Credit Can Affect These Monthly Bills

Credit is the primary factor in proving your borrowing worth to lenders, so to speak.  While income and current debt liabilities do factor in, credit score can give an overall picture as to whether or not you will not only be approved, but what interest rate you will secured, or even have the application turned down.  While there are some obvious monthly bills that are affected by your credit score, there are others that may come as a surprise just how much your credit affects other payment obligations as well, so it is important to get your score as high as you can.

Mortgage, Credit Cards, Personal Loan

The most obvious that you credit will affect any application you put in for a mortgage, credit card, or loan from the bank.  Not only will your credit be a major decision in your loan approval, it will also decide what interest rate you will be granted.  Depending on the size of the loan whether it is for a car or even larger for a home purchase, even a small percentage of an increase in rate could cost you hundreds to thousands in extra interest payments per year.

Rent

While it can be tough to secure a mortgage with the tight standards, you will be surprised that even getting approved for rent by a potential landlord can be difficult if you have poor credit.  Landlords want to ensure that you have not only are able to afford the rent payment, but also that based on your history, if you have a pattern of on-time payments.  If your credit score gets too low not only could you be out of getting a mortgage, but it could cost you being able to be able to even rent a place to live.

Car Insurance

A little surprising when it comes to how your credit score can affect other necessary monthly bills is car insurance.  The first thought that comes to mind is what does insurance have to do with credit score, but fitting the theme of granting money, insurance companies also want to make sure that you are a responsible borrower before they will approve insurance for you, and all the more reason to have a great credit score so you don’t have to pay any extra in insurance premiums than you already have to pay each month.

Auto Lease

Basically, every car commercial you see if offering a payment for a hundred or two each month, and by now you realize that after all of the fine print and taxes added in, it really is more like a few hundred a month for a new lease.  While that may be true, that is also assuming that you have great credit, but if you don’t, that $300 a month for a new car can turn into $350 a month pretty quickly with a boost from the finance department, or even not being able to be approved at all.  So, with now home, insurance, and car, credit affects almost every aspect in life.

Tips to Maximize Your Nest Egg

No matter where you are at in your career, whether you are just out of college, or are even nearing retirement, it is good to ask yourself how much you need in retirement and track to see your progress.  If you are like most that unfortunately do not seem to be adequately saving for retirement, now is as good of time as any to get the ball rolling to be in control of your financial future.

The Earlier You Start the Better

Just going by simple math, if you have decades left until you retire, you can contribute very …

Continue reading...

Customizing Your Term Life Policy

 

Have you already decided that term life is your preferred option over whole life? If so, it would be a mistake to think that your life insurance selection process is already complete.

If you were to ask the question, “Are there different types of term life insurance?,” the answer would be a resounding “Yes!” There are two basic types to consider, but about a half-dozen types when you get to a more detailed level.

Two Basic Kinds of Term Life Insurance

What are the two major classes of term life insurance mentioned above? Annual renewable term and …

Continue reading...

Stay Ahead of Your Financial Future

According to a recent study by Country Financial, two-thirds of Americans are worried about their financial future, worried that they will not be able to retire at all.  In fact, The Economic Policy Institute reports that half of Americans do not have any retirement savings, and even half admit that they do not factor saving for retirement into their financial goals.  That is a scary thought that in the upcoming decades there will be less and less people with anything to live off during retirement, other than Social Security, which isn’t much, if it is even there at all …

Continue reading...

Renewable energy: pros and cons

When the world broke out with the promising talks about the renewable sources of energy, some critics of modern progress entered the conversation. In this article we are going to discuss the most popular statements that put the reputation of renewable energy under attack.

The hottest news: who we do trust

With the upcoming plans of New York State Energy Research and Development Authority (NYSERDA) the offshore wind offtake is likely to be used in some American states. The director of NYSERDA Doreen Harris claims to be providing new opportunities for usage of offshore wind energy in June this year.…

Continue reading...

Tips on Saving Money With a Newborn

Having a baby can be (and is, for that matter), stressful.  The crying baby in the picture was my first thought to start off this article as that what it seems to consume my life with now, having a newborn a few weeks ago.  So, while we adjust to our new family member, it is another mouth to feed and more expenses that will occur that will need to be accounted for.  Much like everything else in life, we try to save money the best we can, so same goes with having a newborn.

Clip Coupons!

It is suggested to …

Continue reading...

You Must Have Auto Insurance – How To Save

Several Different Ways To Save

The best way to save on auto insurance is to be a female veteran with an absolutely clean driving record, a sound vehicle with only one owner, and good credit. But as you may have ascertained, this represents only one portion of the actual demographic buying auto insurance. If you’re not in this category, you’ll have to be creative.

First, you don’t want to take the first quote you get from the first agency you call. Geico and Progressive want to dominate the market, but the truth is you can get much cheaper rates from …

Continue reading...

Smart Ways to Save on the Summer Cooling Bill to Start Now

Rejoice, the summer months are almost here, and we have even flirted with August temperatures in the Midwest for a while now, enough that the air conditioning has been kicking on quite a bit.  This could be a great time to check your home for efficiency to ensure that you do not have any outside heat coming in, causing the air to kick on more than it should.

Use a Programmable Thermostat

It’s hard to imagine any homes out there without a programmable thermostat, especially considering most out there now are even Wi-Fi that you can program on your phone, …

Continue reading...

Money Mistakes You Could Regret Later in Life

There comes a time in your life when you reach a certain age or stage in your career when you can look back and reflect upon where you are at.  You don’t have to necessarily be old to do this; you could be in your thirties, ten years into working and still have wished you had done things differently, driving further motivation to ensure you are doing what is right by your financial life.  Before it is too late, ensure you can avoid making money mistakes now so you will not have to regret later.

Renting vs. Buying

I was …

Continue reading...

How To Get Your Sales Team Motivated

When your sales team succeeds, the entire company succeeds. This is not a fact that can be denied. Of course, what there does seem to be some argument on is how you can get your sales team to be as motivated as possible. While what may work for one sales team member may not work for another, there are some tried and true motivators that really seem to kick a lot of people into gear.

Set Up A Prize System

The exact way you will set this up will have a lot to do with how you run the company, …

Continue reading...