Category Archives: Credit

4 of the Biggest Credit Score Myths

Having a great credit score will reward you with the best interest rates and terms that are available in mortgages, credit cards, and loans, savings not only hundreds each month, but thousands over the life of the repayment plan.  Unfortunately, those with lower credit scores will be at the lender’s mercy, so why not improve your score to the best of your ability.  Each year you are entitled to a free copy of your credit report, which you should review for inaccuracies that could be affecting you overall.  The scoreContinue Reading

Paying Off Debt?  It’s Okay to Be a Tortoise and Pay It Down Slowly

Paying Off Debt? It’s Okay to Be a Tortoise and Pay It Down Slowly

Mike is on a mission to pay down his debt as quickly as possible.  He works a full-time job and then in the evening, he teaches community college classes from 7 to 10 p.m.  On weekends and after class, he’s grading papers and creating lesson plans.  He has 3 kids, but he rarely gets to spend time with them because he’s so busy generating extra money. He tells himself the sacrifice will all be worthwhile when the debt is gone. Do you want to know a secret?  Not everyone is cut out to be gazelle intenseContinue Reading

What’s In Your Credit Score and What Actions Affect It

What’s In Your Credit Score and What Actions Affect It

Oh the wonderful credit score. As you will read later, I am not “in love” with the credit score and what it stands for. However, it’s something that affects some of the most major financial decisions that we make in life. In that light, it means that everyone should know how it is calculated and what things can affect the score itself. Before we get into the details, you should have a clear understanding of what your credit score is. First, there are currently a couple different types of creditContinue Reading