Your credit score – why is it important?

By now, you are probably aware that you have a credit score. The only way you do NOT have a credit score is if you have avoided banks and credit cards (not a wise choice in today’s world…read on). Why is a credit score important?  Banks and other lending institutions feel that your credit score is an indication of whether you are a financial risk.  … Continue reading Your credit score – why is it important?

To Bank or Not to Bank: That is the Question

According to the Washington Post, a recent FDIC report finds that up to one third of Americans are unbanked (without any bank accounts) or underbanked (have a bank account but do not use bank services like credit cards). This means up to 50 million adults and households nationwide are not participating in the banking system, and thus not building their credit score. Instead, one fourth … Continue reading To Bank or Not to Bank: That is the Question

Credit Card Use Declines Among Students

Are you in student loan debt? You’re not alone. The average college loan owed by the class of 2010 was up to $25,250 by the end of 2011. On a positive note however, on average, the credit card balances have dropped to $811, from a record of $3,173 in 2009. The percentage of students owning credit cards has also decreased from 84% to 40% within … Continue reading Credit Card Use Declines Among Students

How Getting Hitched Can Save You Money

Last week we mentioned that there were six main financial benefits of tying the knot with your sweetie. Here is the last set of financial perks you could gain! Auto Insurance – With a proper and qualified agent, you could gain discounts almost immediately after the wedding.  The opportunities for discounts for responsible married drivers are significant. Most married couples save by consolidating policies. Raise … Continue reading How Getting Hitched Can Save You Money

What is Your Personal Financial Wellness Score?

Think you are stressed?  Take the Personal Financial Wellness survey (PFW).  Your PFW  can help you determine what level of stress you are experiencing due to personal finances.  By taking an eight-question financial stress quiz , you can learn how your stress measures in comparison to the national  averages .    Is your PFW score higher than the average?  Take action – even a baby step – to start taking control of your money.  Here’s … Continue reading What is Your Personal Financial Wellness Score?

How to Order Your Free Annual Credit Report

Those little jingles you hear about getting your “free” credit report on television or on the radio sound good, but they are really not free. There is usually a stipulation or another product that is being marketed. The federal Fair and Accurate Credit Transaction Act is a federal mandate that requires consumer credit reporting  agencies (that include Equifax, Trans Union and Experian) to give you a … Continue reading How to Order Your Free Annual Credit Report