Facing an economic crisis like the one we are dealing with now is not easy, and puts consumers at more risk than ever for flailing credit scores. With gas prices sky high, the cost of living on the rise, and the unemployment going up; it is easy for singles and families to get behind on bills and payments. But you are not alone 0 60% of Americans have a credit score that is below 750, meaning we0ve all made mistakes and have had difficulty staying on top of things. So here are a couple tips that will show you how you can still maintain a good credit score, even when living paycheck to paycheck.
1. Know Your Score. The first step to reviving your credit score is to know exactly where you0re at. So, contact a trustworthy credit bureau (there are plenty of free ones out there) and ask for a copy of your current credit report. Here, you can identify exactly where you have fallen short in the past, and what to avoid in the future. You will also be able to see all open lines of credit. Perhaps you have forgotten about the Macy0s credit card you opened when you […]
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If you have ever set foot on a college campus, you know that applications for college student credit cards can be found around every corner. In fact, the sheer abundance of them leads many students to believe that these cards are a normal, everyday part of student life. Before you go jumping onto the plastic bandwagon, however, there are a few things you need to consider…They’re Not Your FriendsThe companies offering college student credit cards are not your friends, and they’re definitely not your guidance counselor. Remember, any advice given by these companies or any information distributed by them will be provided with a slant.These companies have one goal in mind — and that’s making money. The more money they make off of you, the better. Sure, they want you to be a responsible card holder and they want you to pay your bills on time, but they also want you to rack up debt so you can pay interest over the years. You need to keep that in mind when considering any student credit card offers.You Have To Pay Them NowUnlike your student loans, you have to pay your college student credit cards off while you’re in school. Student […]
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It isn0t easy to carry out a debt management plan or live on a reasonable budget in today0s consumer market. Effective advertising and marketing executives work hard to convince the average American citizen that happiness lies in material possessions that only money can buy 0 fast luxury cars, large homes or cutting-edge electronics. Unfortunately, this is why many people are bogged down with debt and bankruptcy. Developing a budget during harsh economic times can seem extremely difficult, but it is imperative if you ever hope to survive on a debt management plan. Budgets help you overcome poor spending habits and avoid bankruptcy. Like any other valuable skill, learning to live on a budget can take time, patience and practice. The following information will help you develop your own budget-friendly debt management plan.
Make a list of all of your necessary expenses or bills. This includes bills that you must pay on a regular basis 0 your rent, phone, car insurance, health insurance, mortgage payments, student loans, utilities, cable and internet, etc. Add the costs of your payments together to find the total amount of your typical mandatory expenditures.
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