How to Maintain a Good Credit Score

What causes bad credit? Late payments, charge-offs, defaulting on loans, foreclosure and bankruptcies are some of the things that can ruin your credit. An unpaid judgment can also cause your credit score to drop to the point where even an easy personal loan isn’t so easy to get. Dealing with bad credit can be frustrating. Fortunately, there are ways that you can keep your credit score high.

How to Improve Your Credit Score

Check Your Credit Report

It is estimated that 20 percent of people have at least one error on their credit report. If you have a low score, then it may be due to errors on your credit score. That is why it is important to obtain a copy of your credit report. Keep in mind that you can get one free report each year. If you have errors, then you will need to report them to the credit bureaus as soon as possible.

Watch Your Credit Card Balances

A credit card can make or break your credit score. If you keep your credit card balances low, then you can increase your credit score. Paying on time can also boost your credit.

The optimal credit utilization percentage is 30 percent. This means that if your credit card limit is $1,500, then your balance should not be above $500. You can keep your balance low by making multiple payments throughout the months. If you are getting close to the 30 percent limit, then you can ask for a limit increase.

Leave Old Debt on Your Credit Report

Many people remove items that they have paid off from their credit report. However, it is a good idea for you to keep these items on your credit report. Keeping items that you have paid off on your report will help you add points to your credit score.

Pay Bills on Time

Your payment history is one of the main things that affect your credit score. In fact, it determines 35 percent of your credit score. That is why paying your bills on time is one of the best things that you can do for your credit score.

It is important to note that one missed payment can drop your credit score. If you have any missed payments, then you will need to pay them off as soon as possible. Ask your bill collectors to delete past-due accounts after you have paid them off.

Be Careful About Applying for New Credit

You can add points to your credit score by having multiple credit cards on your credit report. However, applying for too many credit cards at one time can cause your credit score can drop. Lenders may also consider this a risk. Many people apply for credit cards in order to supplement their income.

Bad credit is a problem that many people have due to things like late payments, past-due accounts, collection accounts and errors. However, there are ways that you can improve it. You will need to make sure that all credit errors are corrected. You will also need to keep your credit card balances low, pay bills on time and leave old debt on your credit report. Additionally, you will have to be careful about applying for new credit.

5 Keys to Turning Your Side Hustle Into a Successful Business

Starting a side hustle is the perfect way for people to pursue their passion while paying their bills. With hard work and dedication, entrepreneurs can start a business while using their regular income to support their efforts and keep the lights on.

For some, keeping a side hustle is a great way to supplement one’s income while working a full-time job. For others, the goal is to create a full-time endeavor. Here are five keys to turning your side hustle into a successful business.

Get the Right Tools in Place

When you’re building a side hustle, you have wiggle room …

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What is a “Small Business” Work Retreat?

It’s difficult to find the balance between work and your personal life in the startup phase of your business. You fear that if you step away for even a minute, the entire enterprise will flounder and fail. The truth is that there is a lot of risk associated with starting a business. And it could not work out. But you will never know for sure unless you put your whole self into it. However, that could lead to burn out.

Entrepreneurs have drive, but this can be what forces them into a state in which they are unable to enjoy …

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4 Goals for A Great Retirement

When it comes to retirement planning, you need to do more than figure out how to increase your investments or scale down your expenses; you also need to set some meaningful goals.

Goal setting isn’t something you should do only when you’re trying to climb the corporate ladder or achieve your dream career. It’s something that will also serve you well if you want to enjoy a great retirement.

Without goals, retirement can be challenging. If you have to live frugally, then it’s rewarding to focus on something other than financial affairs. But goals are also important if you have …

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How You Can Save Money by Summer

Although it seemed like this time would never come after a long winter, it finally seems like the nice weather is here to stay!  That means you can open up the windows to get some fresh air in, not to mention if your house a long overdue spring cleaning.  The warm weather means that summer is around the corner, and while your weekends will likely start to fill up fast, you can start to reduce expenses now so that you can have extra play money during the summer.

Avoid Going Out to Eat

Sure, this one may be tough, especially …

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How to Avoid Potential Money Wastes

While sure, it’s important to know the sep ira rules when it comes to setting yourself up for financial success but if you aren’t maxing out your retirement account, then there is plenty of room for improvement with the rest of your finances.  By avoiding some of the biggest money wastes, you can free up extra money in order to build an emergency fund, pay off debt, and fund your retirement account.  The earlier you start, the more it will pay off in the end when you really need it.

Not Tracking Spending

You may know how much are in …

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How to Improve Your Personal Finance Starting Now

Sure you can pay attention on penny stocks to watch when it comes to investing, but before you go down that road, it’s a good idea to take a look at your overall personal finance to ensure you’re on the right track.  Although it may be decades before you retire, it’s never too early to start preparing, so the better money moves you can make now, will set you up for success in the present and future, the more you can free up extra money.

Check Your Credit Report

With the amount of fraud there is these days you never …

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5 Ways to Enjoy Your Spring Break

Spring Break is just around the corner, and for some restless college students, it can’t come fast enough.  Having lived through tough exams, late night cramming sessions and last-minute revisions on papers and thesis, students are eager for a break from studying and from the cold of winter.  For many, heading to the tropical climes or straight to the closest beach is all they can think about.  And while they may have fantasies about fruity cocktails with little umbrellas, string bikinis and partying into the wee hours, the reality is that you have to pay to play.   For too many …

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Ways to Save Money Starting Now

Before you go getting into a cpxx, it might be time to take a look at your whole financial picture in order to look at every dollar coming in and out, and then finding ways you can cut expenses in order to put your hard-earned dollars to good use, from building an emergency fund, increasing retirement contributions, and even saving for a much needed vacation.  There are plenty of ways you can save money, but some might take some sacrifices, but will be well worth it in the long run.

Get Rid of the Gym Membership

When the end …

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Money Mistakes You Could be Making

While sure, insurance can help you, but it doesn’t help any potential money mistakes that you could be making.  There may not be a cut and dry answer to what is right and wrong, as everyone makes different amounts of money and have different financial goals, but across the board, if you can build up an emergency fund of a few months’ worth of expenses to give yourself a cushion, getting out of debt, while saving for the future you have a good start, but look to avoid a few behaviors that could set you back.

Trying to Keep

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