Archive for October, 2011

6 Easy Ways to Trash Your Credit Score

Posted on October 27, 2011 by Saldutti

Your credit score – issued by each of the three major credit bureaus (Equifax, Experian, and TransUnion) – is your personal rating of creditworthiness.  A shoddy score can wreak hell on your finances, making it nearly impossible to refinance a mortgage, lock down a loan, or even rent an apartment in some places.   So if you’re looking to trash it, here’s what to do (according to The Business Insider: Get into debt – Going on a mindless shopping spree is an easy way to send your finances to the landfill.  According to Credit Karma’s Credit Score Simulator, a fair score of 640…

What Percent Are You?

Posted on October 24, 2011 by Saldutti

Does your household have an income?  Is that income less than $500,000 a year?  Then welcome to the 99%. Curious to see where you stand?  Here’s a handy tool from The Wall Street Journal: http://blogs.wsj.com/economics/2011/10/19/what-percent-are-you/ Use it to enter your household’s income and then click the Rank Me button. It’ll tell you where you fall, percentage-wise.  What do any of us do with this information?  What will you do with this information? One of the curious things I see with regards to this ranking system is how many folks who aren’t in that top 1 percent – or even 5…

Save $1,000 By the Holidays

Posted on October 11, 2011 by Saldutti

It’s not too early to get a head start on the holidays — saving for the holidays, that is. By making moves now to cut costs, you can save up to $1,000 or more over the next two months to pay for holiday gifts with cash rather than credit. Kiplinger.com has skipped several of the usual savings recommendations (such as dining out less and cutting out your morning Starbucks stop) and highlighted some cost-cutting moves you might not have considered. The actual savings in the examples below will vary (especially depending on which ones you can implement). Ways to save: Adjust your…

4 Unexpected Moves That Can Ding Your Credit

Posted on October 04, 2011 by Saldutti

You may be damaging your score without knowing it.  Most people know that paying bills late can play havoc with your credit score. But not every move that shaves points from your credit score is so obvious.  Kiplinger.com shares these ways that you can jeopardize those three all-too-important numbers:    1. Charging a Big Balance to a Store Card – You’re tempted to buy thousands of dollars’ worth of furniture or appliances and charge it all to a store credit card that doesn’t require payments for six months or even a year—and sometimes longer. But according to SmartCredit.com, debt that…