10 Ways to Destroy Your Credit in 2012
January 2nd, 2012
I think I might vomit if I have to read one more “10 steps to financial freedom in 2012″ blog post. They all say the same things. Make a budget, track every penny you spend, build an emergency fund…blah, blah, blah!
Don’t get me wrong. Those are each important parts of personal finance, but aren’t you bored of reading the same old stuff? I certainly am. So I’d like to take a different spin on things for my first post of 2012.
Want to destroy your credit this year? Here’s 10 ways to make it happen: More »
Posted By: Joshua Heckathorn | Comments (0)Dash to Goodwill Before Ringing in 2012
December 31st, 2011
You probably have a list of 50 things to do today as you prepare to ring in 2012 with friends and family, but I’ll bet most of them will cost you money. Here’s a quick task to add to your New Year’s Eve list that will actually save you some money in 2012.
To save on your 2011 tax bill, take an hour this afternoon and rummage through your closets for old clothes, toys, and household items that are just taking up valuable space. If you come across something and it hasn’t been used in 6 months, get rid of it. Don’t try to talk yourself into keeping it around because there’s the slight chance you might need it at some point in the future.
Trust me, if you haven’t used that old t-shirt you won at the state fair 3 years ago, you’re never going to need it. Donate it to someone who will, and earn yourself a little tax break. More »
Posted By: Joshua Heckathorn | Comments (0)Top Three Holiday Credit Mishaps
December 23rd, 2011
The holiday season is in full swing, and regardless of which holiday(s) you celebrate, gift giving is exciting, expected, and expensive. While it’s certainly ok to share your hard-earned cash with loved ones through gift giving this holiday season, keep in mind the three most common credit mishaps as you fit in your last-minute shopping.
After all, ’tis the season to be jolly! ‘Tis not the season to be tricked, scammed, or sold into destroying your holiday and your credit for years to come. More »
Posted By: Jeff Greatorex | Comments (0)The Top Five Myths About FICO Scores
November 7th, 2011
We’re all aware of the importance of having great credit scores, but sometimes figuring out how to get that stellar credit score is like cracking the code to the secret sauce at your favorite burger joint.
The result is that over the years, dozens of credit scoring myths and misunderstandings have popped up as people have attempted to get their financial lives in order. Here are my top five in descending order. More »
Posted By: Jeff Greatorex | Comments (0)The Risk of Piggybacking
October 17th, 2011
Piggybacking still works. In fact, if you have no credit at all, it can be one of the fastest ways to add positive credit history to your credit reports and give your FICO scores an immediate boost. I recommend it quite often to parents and spouses who are interested in helping their child or significant other build credit from scratch.
However, while piggybacking is a rather safe credit-building technique, it’s important to understand that it’s not risk free. Especially if you’re the one seeking to build credit, there’s one big risk to consider before you’re added as an authorized user on anyone’s account—
What if the account holder responsible for the card eventually racks up a bunch of credit card debt and stops paying? How would that affect you? More »
