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Weekly Tips

Good Credit Saves Big Money

Everyone loves finding new ways to save money. Some people obsess over cutting the little things from their daily routine, like lunches out with friends and $4 lattes. And while there's nothing wrong with frugality, the truth is a lot of people tend to overlook other areas in their life that could save them much more in the grand scheme of things.

Take credit scores for instance. A little dedication and financial responsibility will go a long way in improving your FICO scores. Then, when you're ready to purchase your next home or car, the savings can be absolutely astounding.

In fact, when compared to a peer with bad credit, someone with a good credit score will likely spend thousands of dollars less in interest on a vehicle financed over just 5 years. A home purchase, financed over 30 years, could even net savings in the hundreds of thousands depending upon the size of the loan. It would take a lot of skipped lattes to beat those savings!

on Wed, 2011-05-11 17:00