Month: November 2012

Credit Repair and Giving — How to Make Your Gift Count

The holidays are fast-approaching and the shopping season has begun. Finding the perfect gift for your relative or friend can be challenging. The good news: If your loved one struggles with financial woes, your shopping trip just got easier. Consider the following gifts for your tight-budgeted comrades this year. Useful presents are often the best.

1. Discount store memberships.

If budgeting is a problem, help your loved one by increasing their cash flow in a positive way this year. Consider buying them a one-year membership to a discount store such as Sam’s Club or Costco. The recipient will save money on everything from clothes and books to food and electronics. The result will help them cut costs and (hopefully) add to their savings account.

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Holiday Shopping and Credit Card Limits — How to Buy Responsibly

The holidays are around the corner, and it’s time to think about gifts. You may have a list of swag for family and friends, but how does your budget stack up? Do you intend to pay cash, or do you need the help of credit cards to cover the balance of holiday cheer? If you opt for credit this year, do so responsibly. Pushing your limits to the max will undoubtedly affect your:

  • Credit utilization, or the amount you owe vs. your total credit limit.
  • Ability to repay the balance.
  • Credit score. A surge in debt is viewed as risky, especially if you don’t pay the balance right away. The consequences could cost you a few credit score points.
  • Interest rates, which are likely to rise as your credit score decreases.

While giving is better than receiving, spreading joy should never lead to credit repair woes. Follow the tips below before embarking on a shopping trip this season. The results will allow you to use credit safely and protect your finances along the way.

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Hurricane Sandy Relief: How to Help Safely

Hurricane Sandy is the largest Atlantic storm on record, causing over $52 billion in damage and displacing millions of people. Unfortunately, the devastation is far from over. On November 7, 2012, New York City mayor Michael Bloomberg urged residents who were not part of last week’s mandatory evacuation to move to higher ground. This announcement was considered a preemptive measure to brace for additional storms that may occur in the next few days.

As the storm rages on and northeastern resources dwindle, offering support is imperative to ensuring the well-being of those affected. Follow the tips below if you feel inclined to help. While donating funds during a crisis is a wonderful gesture, it is also a breeding ground for scammers looking to benefit from others’ misfortune. Keep your credit repair efforts in check on your quest to provide aid.

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How to Focus on Credit Repair During Thanksgiving Festivities

Expect a heftier price tag for this year’s Thanksgiving feast. According to the Department of Agriculture, the crop shortage stemming from this year’s drought will drive up the cost of groceries. They predict inflated prices continuing well into 2013 on plant and animal-based products. The rising cost of food isn’t a new development. Last year, reported a 13 percent increase in Thanksgiving meal costs compared to 2010. When credit repair is on your plate, forking over the extra cash to feed your extended family is tough. The good news? You don’t have to sacrifice your budget to plan a lovely, food-filled holiday. Follow the tips below to protect your credit repair goals and get cooking.

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Holiday Travel and Credit Repair: Economical Alternatives

Travel is inevitable during the holidays, especially when close family isn’t close by. While haggling with the airlines isn’t realistic, there are ways to save your cash this season. Keep your savings account and credit repair goals in check as you pack your bags. Debt reduction and credit utilization should never eclipse your travel plans, or vice-versa.

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