How Merging Assets Affects Your Credit
You may want to share everything with your new spouse, but you’ll each forever own separate credit scores. Nonetheless, merging assets can affect credit reports going forward and can influence access to credit. When spouses with widely different credit scores apply jointly for purchases like…
How to Successfully Save Money
Saving money is on many people’s to-do list, but it can easily get pushed down the priority list. No matter what you want to save for, whether it’s a new car, home down payment, or going back to school, making a plan and sticking to…
Wedding Budget Mistakes to Avoid
Planning a wedding can be a whirlwind experience. Many couples who are planning this event for the first time can easily get caught up in the rapture of creating a fairytale event. Creating, evaluating and managing a wedding budget is the cornerstone to a successful big day. Even when couples have the best intentions of sticking to their budgets, there are times when things go off-track. Knowing the budget pitfalls in advance can help you avoid them.
5 Most Common Mistakes That Lower Credit Scores
Your credit score serves as a quick way for lenders to get an idea of how well you’ve managed your credit in the past, especially when banks are deciding whether to lend you money in the future. If you’re looking at taking out a loan,…
How to Rebound from a Poor Credit Score
Fair Isaac Corporation provides consumers with FICO scores to gauge their creditworthiness. Scores range from 300 to 850; a “good” score, though not rigorously defined, falls in the mid-700 range. You can take steps to improve your score even if you had credit problems in the past.
How to Budget for Holiday Travel
Budgeting makes travel better. It gives you a structure to save for your vacation and to plan out all the details you want to incorporate into your travel. With discipline and research, you might be able to expand your travel activities to include extras that otherwise would be out of reach. Not having the funds to book a five-star, all-inclusive vacation does not mean you have to don a backpack and hitchhike your way to the nearest hostel. Budgeting can help folks with even modest incomes to enjoy comfortable, well-planned excursions.
Investment 101: How to Start a 401(k)
To encourage people to save for retirement, the government offers a number of tax advantages for contributing to special retirement plans, including 401(k) plans, which can be offered by for-profit companies. Knowing how your 401(k) plan functions helps you make better decisions about how much you want to contribute and how you want to invest the money in the account.
What Should You Do With your Tax Refund?
A tax refund can give you a sudden influx of unexpected cash that you can use for a variety of purposes. But make sure you have a plan for the money, and don’t be in too much of a hurry to get your money by signing up for a refund anticipation loan or other product. “Generally this is a bad idea,” says Ben Wacek, a certified financial planner and founder of Wacek Financial Planning, LLC. “It’s important not to rely on a refund for financial well-being, and so it’s best to just be patient and wait for the refund.”
New Year Financial Resolution: Buy a New Car
The clock striking midnight to ring in a new year can be that little extra motivation you need to get on track to save for a new set of wheels. However, buying a new car requires more planning than just driving down to the dealership and signing a few papers. how much you can afford and shopping for the best deal on financing ensures you’ll enjoy your new ride and make payments without a hitch.
New Year Financial Resolution: Pay Down Debt
Paying down debt can be a life-altering New Year’s resolution — if you actually carry it out. Often, best intentions are not enough. To successfully reduce your debt levels, you can employ tools and strategies to make the job easier. The rewards for paying down debt include more money for discretionary spending or saving, improved credit scores and an ego-boosting sense of accomplishment.