Month: June 2012

Why Your Credit Affects Your Insurance Rates

 “I believe that sometimes you gotta wreck the truck to get the insurance money to make the truck payment.” – Larry the Cable Guy (Blue Collar Comedy Tour Rides Again)

All of us have applied for home or auto insurance at some point in our adult lives. I’m sure that the thought crossed most of our minds of: “Why did they have to check my credit reports to determine my insurance rates? They have nothing to do with each other.” The fact is that, statistically speaking, they have very much to do with each other.

How Your Credit Score Got Involved

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Savings and Credit Repair: How to Redistribute Your Cash

Savings and credit repair go hand-in-hand. Resources in the forms of time, money, and credit score points will aid your financial stability and keep your reputation in fighting form. For those pursuing credit repair, acquiring the skills of budgeting and saving are imperative. Along the way, keep the five factors of credit scoring in mind and use your newfound abilities to conserve and redistribute funds. Deliberate planning leads to deliberate results.

• Payment history and debt

A cash surplus can breathe new life into a flailing credit score. The ability to cut back on everything from monthly food costs to inflated bills will add to your bank account and provide instant flexibility. Utilize your financial leeway by focusing on payment schedules and overall debt reduction for credit cards and other revolving credit balances. Save more money by paying down those cards before associated interest accrues. If you carry a mountain of revolving debt, reduce your credit utilization ratio by setting an end goal and increasing your monthly payments. Remember that credit scores are highly impacted by how maxed out your cards are.

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Credit Repair and Budgeting: Three Steps

Resource allocation is the cornerstone of good budgeting. Understanding how and when to spend your money is the best way to build a stable lifestyle. These goals are especially important when credit repair is added to the mix. The ability to pay your bills on time, establish an emergency fund, and reduce debt are all credit score boosters, ones that come easily with a wise budget in your arsenal. Focus on credit repair and simplify your life by adopting the financial tips below.

• Tip #1: Overestimate.

Budgeting requires a review of the facts. Begin by gathering three months’ worth of bank statements and bills. Make a list of your monthly expenses and calculate the average of each. Consider the following example:

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The Credit Repair Insider Guide | Free eBook

Click here to view and download your free copy!

The Credit Repair Insider Guide
Quotes from the book:

Nobody is required to report anything about any of us for any minimum length of time to anybody else.”

“All of us have a fundamental right to legal representation.”

“Lexington’s Concord Premier level of service constitutes a rare lighthouse of individualized guidance.”

“In real life, favorable credit rates are typically extended to those with scores of 720 or above.

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Is It Time for a New Job? Five Signs

In a perfect world, employment fulfills the needs of personal satisfaction, professional advancement, and income stability. In reality, CBS News reports that over 55 percent of Americans are unhappy in the workplace. If you are among the disgruntled workforce, the time to find better employment is on the horizon.

While securing your dream job is a tall order, credit repair goals require a steady income to accomplish their objectives. A positive career should also help you focus on the areas of:

• Debt reduction: Almost every consumer faces the burden of debt at some point. While a moderate balance can actually help your credit score, too much debt can tip the scales against you. Find an income that allows you to keep your credit utilization ratio below 25 percent.

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