By Andrew from LendEDU – a consumer education website and financial product marketplace. Andrew has learned quite a bit about personal finance while writing and working for a consumer-oriented small business over the past several years. U.S. consumer debt is at an all-time high, with the average American holding 3.7 cards, according to a recent […]
Your credit score is more important than ever today. Employers, landlords, and college admissions offices will look at them as part of their screening process. Many employers will look at them before hiring a new employee. On top of that, of course, banks will base most of their credit decisions and loan approvals heavily on […]
Credit cards can be a great financial tool, or a fast path to financial destruction. Credit cards make it easy to buy almost anything, but always at a much higher cost over the long term. They’re also a fantastic tool to improve your credit history as long as any carried balances stay low and ideally […]
Most people know that you can access your credit report once per year for free. What is this report all about though and why is it so important? What is a Credit Bureau? A credit bureau is a consumer reporting agency (CRA). They collect facts about how you handle your money, specifically the extension of […]
When it’s time for a new car, you have the option of purchasing it outright, either with cash or by financing it, or you can strike up a lease agreement with an auto retailer. Leasing provides the short-term benefits of a new car without the downside of the latter years of ownership. This avenue of […]
Maintaining a solid credit rating is vital to the future of your personal financial success. One challenge with credit though, is that it can seem impossible to get offered credit unless you already have established good credit. Starting from scratch with no credit history can make gaining traction in the financial world seem like an […]
If you’re tired of “investing” by paying someone else’s mortgage, it may be time to look deeper into purchasing a home of your own. It’s more reassuring to know that the money you’re putting toward your home equity each month is going into your own pocket and not your landlord’s. Contrary to popular belief, you […]
The first step to improving anything is to find out where you stand currently. Obtain a copy of your latest credit report. Once you have a position established to work from, you will know where you stand and you can take action to raise your score. There are numerous companies that advertise a “free” credit […]
Many people struggle to manage their credit card balances while keeping their credit score in good standing. If you apply some of the very simple tips and tricks outlined below for managing balances and monitoring your credit score, you will find that they can be an extremely useful. Instead of slaving away in service of […]
Before the financial crisis, anyone who could fog a mirror could qualify for a mortgage. Since then, government regulation has made getting approved for a mortgage anything but a sure thing. The requirements are more onerous than they were 10 years ago and debt-to-income ratio requirements are more stringent than in the past. Although it […]
Financially Fit Formula