Couponing can be a lot of fun too whether you are doing it with someone or you are going solo. What an experience it is when you are at the register listening to every beep bringing down your total as your coupons are applied reducing the retail price of your goods. All of your time, effort, and hard work is paying off as they play your favorite beep song in subtraction mode.
Equipped only with the fundamentals you too can realize a great deal of savings. Couponing in the beginning is a lot of work, because your couponing skill is new and has not yet become habit. Learning couponing can pay off big however if you stay the course. For example, think about when you were learning to walk. It wasn’t easy but you stayed with it. How about when you learned how to cook, the amount of work it was in the beginning. But after you mastered the basics, you could almost cook in your sleep.
So you want to know how to get started grocery couponing? Couponing like any skill requires knowledge. Grocery couponing can be frustrating, and almost impossible if you don’t equipRead More
Just as how you’d go on a diet to cut out all the ‘harmful’ food from your meals, a money diet gets rid of all the ‘bad’ spending that you’ve been doing. Call it a financial cleanse of sorts, where you eliminate all unnecessary spending and end up saving more money. It won’t help if you’re a compulsive spender but it will do you good if all you want to do is tighten the belt after spending too much over the festive period.
Start by giving yourself a time frame, so you can evaluate how you’ve done at the end of it, by looking at your expenses and savings. It’s also good to set a target for the end of this time frame, say, to save $1,000 by the end of it. This gives you more motivation, just as an ‘ideal weight’ does when you’re on a diet.
It’s fabulous to check out a new posh restaurant every month or meet the girls for martinis every fortnight but is this really necessary? It could be as simple as forgoing the coffees you have every day from that niceRead More
Most of the time when someone is talking about their budget, they are referring to an operational budget. An operational budget is one that tracks ongoing financial activity. This the day-to-day budget of a business or a family.
An operational budget tracks both income and expenses. The purpose of this document is two-fold. First, by tracking all financial movement, or “cash flow”, a person can get a much clearer picture of the financial situation. Hopefully, this picture will allow a person to make any desired changes in an efficient manner. Second, the focus of this budget is on the difference between income and expenses. In a business, this is the profit; for a family, this is the “fun” money. What to do with this difference is another topic, for another time.
A project budget focuses on controlling expenses. The idea is there is a certain fixed amount of money available to pay for everything. By tracking expenses, a person can make sure that everything will be covered. When a person delivers a result “on budget”, this is the type of budget being discussed.
The key is to track expenses,Read More
Late payments are totally different from missed payments. On average, late payments can fall behind a day to three to at least a week. But missed payments take longer and can generally overlap with the next billing period making the minimum amount due larger and total amount due even higher.
Credit cards are really tempting to use for cashless purchases. But when you use it for the sole purpose of having a shopping spree galore without even canvassing for the lowest prices and discounted items, you can actually fall short not only of funds for bills payment but also for other important things like food, clothing, and daily needs of your family, especially if you have kids.
The spending power given by credit cards to their owners can be out of control. Within this is the tendency to max out the credit card of funds. Because of the relatively huge amount associated with the purchases plus the interest charges that may be imposed by the credit company, you may end up being in a really big financial dilemma. IfRead More
First if you are a newbie in handling your own affairs, you need to establish credit. If you have a steady job with money coming in regularly, one way to begin is to purchase something that you may be able to afford already.
You might, for example, buy a comfortable chair and set up a small revolving line of credit with a furniture company. Credit tips and credit counseling recommend paying off this small loan as a good beginning to creating a positive credit history. Should you be a college student, think twice about taking out a credit card in your own name. You are probably saddled with student loans and certainly are faced with huge temptations to spend, spend, spend. Not having a card could preclude going into debt before you know what has happened to you.
For anyone, having one credit card only is a good practice. Use it wisely and for emergencies or for infrequent things such as plane tickets. Your credit card payments and any loans should be at or below 20 percent of your income. Go over that amount and you are on a slippery slope to problems with credit cardRead More
Credit repair software is an option for those who prefer a do-it-yourself approach. These five tips will help those who are looking to use the software to repair their credit.
Even though you can easily grab a “credit repair letter template” on the Internet – avoid them!
Credit bureaus receive tons of dispute letters each and every day. Because of this they use an automated letter sorter that scans each letter and prioritizes requests. Trouble is, this sorting technology is sophisticated enough to notice duplicate content, which can result in your letter being earmarked as a low priority.
Plus, if your dispute letter is labeled as trivial or non-essential, you could be stopped from disputing specific items for several months.
You can certainly follow the guidelines of a form letter or template, but you’ll want to customize it so that it looks unique and “original”.
A customized letter not only stands out, it allows you to attach supporting documentation and get into far more detail about your dispute.
Another little-known thing that credit bureaus do is to use an automated process called e-Oscar. This method scans a dispute letter, and creates a two or three digit code, which is sent to the Creditor of your dispute. In this situation the creditor mustRead More
The credit card holder, though, is responsible for ensuring the company that supplied the card reports it to the three major credit bureaus. There are five main things a person can do to find the best secured cards.
Pre-paid cards are a better alternative for those people, who don’t want their finances to go out of control. The process of using these cards is similar to that of conventional ones, and you can use them in almost all places.
They are offered by most of the recognized banks, and they come with a lot of attractive features for the users. These cards are issued against the deposit that you make. The good thing is that your bad credit will not affect your eligibility to get one. Your application will be immediately approved, and banks do not ask for any kind of credit check. Also, your employment status is not the requisite for procuring your pre paid cash card.
Since you pay money in advance, there is simply no question of any late payment fees. This is one of the reasons why it is believed to be the best option, for those who wish to curtail their unnecessary spending habits. It can be used for buying things online, just like any debit or credit card. The only difference being is that this works on the deposits you make.
Whether it happens to be your credit card bills or monthly dues such as rent, gas, electricity etc it is always a good idea to keep up with all your dues so that you can stay worry free. Although there are several provisions to pay your dues at a later date, procrastinating never helps, especially wherever money is involved.
The upside to paying your bills on time is that:
The moment you default in repaying your loans or forget about your bills, you end up spending more than the original bill’s worth. Why? Because you have to bear the value of the bills plus some kind of late payment charges. Now, do you honestly believe that it’s necessary? Don’t you think with a bit of planning you can beat the odds of defaulting? You sure can. But, planning alone isn’t enough. Implementing your plans is where it all figures.
By being prompt in all your payments, you automatically ensure a positive credit record and eventually an improved credit score. Wondering why a healthy credit record is even necessary? Well, the next time you wantRead More
A dispute can be raised if:
Before you raise a dispute, ensure that you are confident that an error has been made in your report. Now, let us have a look at the general process followed to solve a cibil related dispute.
I will give you a couple of good examples of what I mean. An average male, height 5’9″, weighing 150lbs, may appear to be in great physical health to the naked eye. On second thought, if you did some homework about the background about that same individual you may find some things that can severely impact your perception of his health. Does that person have an eating disorder, that is causing him to lose weight? Is that person a smoker or does his family have a long history of heart disease? How’s his cholesterol level? See what I mean.
The same things applies to credit. If you assume that credit is more than the threes digit score but rather an amalgam of different factors then you will agree that simply making the payments on time is not a clear indication of your actual credit health.
Credit in my opinion is a bridge towards borrowing money. Ultimately, credit is simply the ability to borrow money from a lender, bank, or broker. Many people mistake having a positive payment history for having credit. Let’s dig a little deeper. In today’s harsh economic environment banks, who are the gatekeepers ofRead More
These credit-scoring programs do the following:
Lenders are most likely to base their decisions off of the FICO score or its cousin, the NextGen score, than any other type of credit score. FICO is the industry leader and is used in about 75 percent of mortgage-lending assessments.
With this in mind, if you have a bad score, you don’t have to be stuck with it. On the flip side, if you have a good score, you need to make sure you maintain and monitor it.
Your Payment History – This makes up about 35 percent of your score. This is because it is a record of you paying your bills
Each inquiry can drop your credit score by a few points or more! There are a few creditors that do what is called a soft inquiry and offer a credit card if your credit profile meets their minimum standards. A soft inquiry does not affect your credit score and is only seen by you, the consumer.
Although this can be a welcomed way of gaining credit while rebuilding, one should be very careful not to accept any and every offer as too many retail accounts can be perceived as a negative indicator by other credit issuers. Additionally, many consumers who run across this “Shopping Cart Trick” accept every offer they receive they wind up with too many overall new accounts which also dings one’s “Average Age of Accounts”. Generally speaking, these accounts come with low limits which can also hurt your credit score (ie a $80 balance on a $200 credit line is 40% in utilization). Credit seeker, beware! Only seek and accept offers that you can truly use! A relatively safe option is to accept no more than 3 of the store cards. For credit purposes accepting the cards with the co-branding is thought to beRead More
These kinds of cards have become a lot more popular because gas prices have risen so sharply. You can earn up to 5% cash back on eligible purchases like utility bill and phone payments, cable and gas bills, groceries, and dining when you get some of the more widely available cash back cards.
A lot of cash back cards are in the lower range of percentage payback, hovering at around 1% to 2%. However, there has been a trend to raise the cashback percentage to 5% amongst major card issuers. However, the 5% cashback rate usually just applies to purchases made at gas stations, pharmacies, and grocery stores. You usually only get the 5% cash back on one of these items, but getting 5% back is substantial. Image getting 5% back on gasoline?! In today’s world, where gas prices as so high, getting 5% back can be quite substantial.
The trend towards offering cash back, in general, is increasing for a variety of reasons. The uptick in gas prices, the higher percentages being offered by card issuers, and the increased competition being faced by credit card issuers as well, are all contributing to the larger numbersRead More
A gift of excellent credit is one of the best things that you can give to your child. There are a few ways to help your child create a great credit report including the following:
Credit score is influenced by four factors: history of payments, length of accounts in good standing, inquiries, and types of accounts.
It is difficult to obtain history, length with accounts, or types of accounts when you do not have any kind of previous history. Most credit agencies will turn you down or denied your application because they do not know you. To start building a good credit score, you must establish a secured account. Some institutions call it “secure credit cards” or “secured loans.” Secure products will help you generate history with a credit institution with a low-cost and without risk of generating unnecessary debt. A secured account starts by initiating a savings account which will be taken “hostage” by the financial institution in case you do not repay the loan they will give you for the same amount on the savings account. This way, creditors will be more likely to give you an account regardless of your past history or credit scoring. This product works perfect for college students who want to establish a positive history and get denied for not having any yet. There might not be a need to borrow against the secured lineRead More