Building Credit

Learn-How-Personal-Loan-Might-Help-Your-Credit-Score-in-6-Ways.
Did you know that personal loans can help improve your credit? How can you benefit from personal loans in this regard? Well, let us first understand what credit score is and its relevance. Before a loan application is approved or declined, lenders often conduct credit checks on applicants. An applicant is supposed to meet some requirements in order to be […]

Learn How Personal Loan Might Help Your Credit Score in ...

 in Building Credit / Finances  tagged #CreditBuilderCard / Improve your credit score / Personal Loans / Rebuilding Credit by
6-Sign-Your-Debt-Has-Become-a-Problem
It can be really tricky to tell when exactly debt crosses the line from manageable to problematic. One week you’re plugging along, as usual, the next you realize you’ve gotten in over your head. Everyone’s financial situation looks different, so there’s not necessarily a universal way to determine whether the debt has become a problem. However, there are six warning […]

6 Signs Your Debt Has Become a Problem

 in Building Credit / Finances  tagged Cleaning up credit card debt / Signs your debt is out of control by
Owning-a-credit-card-is-a-responsibility-and-you-can-either-build-your-credit-or-damage-it.-Paying-it-off-month-is-what-helps-build-your-credit 2 comments
Credit cards are everywhere. The little pieces of plastic that allow us to spend money we don’t possess have taken over. As an adult, you have a whole range of options available to you, depending on your needs. If you are a bit short before payday or you need to fund a large purchase, there are credit cards geared to […]

Pros and Cons of Owning a Credit Card

 in Building Credit / Finances  tagged Building a credit rating / Healthy Habits of a Credit Card / Payback credit card before due date by
Rock Bottom - 5 Steps for Rebuilding Your Life After an All-Time Low Photo by Tom Pumford on Unsplash A variety of things could tank your financial situation—divorce, bankruptcy, or the loss of a job, to name a few. While you may feel like things will never look up again, that is not the case. Below are five steps that you can take to start rebuilding after an all-time low: 1. Beat the Credit Trap In general, it is not a good idea to add a loan to a bad financial situation, especially if it’s a payday loan that comes with excessive interest. No-interest loans are an exception to this rule. These loans are typically smaller in size, ranging between $300 and $1,500 for things like education or essential goods and services. A no-interest loan can be a great way to set yourself up to rebuild your credit score while helping you attend to your basic needs. 2. Create a New Budget Given that your financial situation has changed, your budget must change as well to reflect your new income. A caveat, it must be realistic to be successful. Go back through your bank account and credit card statements from the previous month and review bills and amounts. If your financial issues did not allow you to pay your bills in the recent past, put your budget efforts on hold briefly. Your first focus should be creating a list of what you owe and to who. You can then create your budget to include your monthly payments to pay your bills as well as the additional amounts needed to catch up on outstanding payments. 3. Get Professional Help If you are struggling to find a path to catch up on outstanding payments, a great resource is a financial planner or advisor. Financial counselors can help you get out of debt and teach you how to create an emergency fund so you can avoid this economic rock bottom in the future. You can find these individuals through such resources as the National Debt Helpline, which is a free service. 4. Pursue Emergency Relief If your new financial situation is dire and you cannot afford to purchase food or pay essential bills, it is time to seek out emergency relief. There are nonprofit organizations that can provide food, clothing, transportation, and other services to help get your financial life back on track. 5. Make Time for Self-Care A very important item in rebuilding your finances is self-care. Your mental health can suffer if your finances do. For example, your new financial situation could cause you to experience feelings of anxiety, worry, increased stress, and depression on a more consistent basis. It is crucial to keep these new emotions in check by investing in self-care. Meditation and deep breathing are excellent ways to restore emotional balance as is exercise. Think through what brings you peace and relief and pursue those things consistently. Your financial rock bottom is not the end of your story. You can absolutely rebuild and create a better financial future. If you are unsure where to start, seek out the help of a financial counselor. Then, create a new budget which may include payments for those you have missed in the past. If you need an immediate influx of cash for an essential good or service, only consider a no-interest loan or seek out emergency relief. As you rebuild, set aside time for self-care so that your mental health does not suffer alongside your financial health. 1 comment
  Photo by Tom Pumford on Unsplash A variety of things could tank your financial situation—divorce, bankruptcy, or the loss of a job, to name a few.  While you may feel like things will never look up again, that is not the case. Below are five steps that you can take to start rebuilding after an all-time low:  Beat the […]

Rock Bottom – 5 Steps for Rebuilding Your Life After ...

 in Building Credit / Managing Debt  tagged Managing Debt / Rebuilding Credit by
How To Manage And Regain Control Of Your Family Finances
If you are worried about the state of your family finances and are feeling increasingly upset and overwhelmed, then it is time for you to rethink how you spend and begin to take steps to make a change not only for your own future but that of your family also. We may all have the best intentions when it comes […]

How To Manage And Regain Control Of Your Family Finances

 in Building Credit / Consumer Advice / Finances / Savings  tagged Debt Reduction / Family Budget / Family Finances by
How-to-Manage-Your-Credit-Card-Repayments-with-a-Debt-Consolidation-Loan 4 comments
When you purchased your new furniture to fit out your new home, your income could support the monthly payment. Then, there was that little trip to the Caribbean last summer that really did some damage to your credit card. Compound that with the fact that in the last couple of months, you had to make repairs to your home and […]

How to Manage Your Credit Card Repayments with a Debt ...

 in Building Credit / Finances / Savings  tagged Achieve Debt Relief / Credit Card Debt / Manage credit card payment by
Teens Making Their First Attempt At A Job
The end of high school is an exciting time. Teens legally become adults at age 18, and it’s right around that time that they finish high school and decide what to do next with their lives. As their parent, you’re likely feeling a little bit sentimental right about now. Weren’t they just running around in diapers? While they might legally […]

How to Help Your Teen Prepare for Graduation

 in All / Building Credit / Loans / Schooling  tagged Buying A Car / College Graduate / Graduation by