Turning the Torture into a Treasure
I’ve heard a number of people in my financial education classes tell me, “I’ve tried to budget, but I’m just not a budgeter. Budgeting doesn’t do anything for me.”
To anyone who has ever felt this way before, let me say two things.
First, I totally get it. I was there too. I hated budgeting because it was painful, ugly, uncomfortable, and a general exercise in frustration.
Second, though, is that I can all but guarantee that THE most crucial item of any household or personal budget was missing from your own the last time you tried (and consequently failed) to “stick to” a budget. That principal part of your spending plan is a list of one, two or three goals that explain WHY you’re budgeting in the first place. Continue reading “Turning the Torture into a Treasure” »
Top 3 Personal Finance Tips
I’ve answered the golden question many times in my classes and presentations: “What is the number one suggestion you have for financial success?” In all honesty, don’t we already live in a society that’s plenty busy and plenty complicated already? Why throw on our shoulders another five, ten or twenty financial skills to master?
Each time I answer the question, though, it’s within the context of a specific course topic, whether it’s budgeting, using credit wisely, or getting out and staying out of debt. Consequently, three different people in three different classes have heard me provide three different #1 suggestions. Continue reading “Top 3 Personal Finance Tips” »
Reality Check – Credit is Used for More than Just Loans
Cut credit cards from your budget
Put food down on credit cards
The titles of articles such as these are clever, intriguing and seemingly sensible, so why do I have a problem with financial experts (even if he or she is nationally recognized) who preach total abstinence from credit cards across the board?
At a class I taught this past week for individuals going through bankruptcy, I fielded a question that touches upon this very subject. A couple attending the class had been pushed into bankruptcy for several reasons, some of which were somewhat out of their control and others which were within their control. To get a grip on those issues within their control, they had decided to pay $100 to take a financial education course at their church. The creator of these classes preaches life without credit cards. Continue reading “Reality Check – Credit is Used for More than Just Loans” »
Credit Report and Your Rights
Have You Pulled Your Credit Report Lately?
Information found on credit reports and that three-digit number called a credit score havebecome such integral decision-factors in our lives. Do you feel as though you are now judged upon your credit report and credit score more than ever?
We have the opportunity—and the right—to see our credit reports and ensure that they are accurate, which is especially important before you apply for a loan. Here are some steps to taking advantage of the FACT Act to monitor your own credit: Continue reading “Credit Report and Your Rights” »
How to Dispute Discrepancies on Your Credit Report
The odds of there being error on your credit report are pretty good. Errors do occur frequently, but they can also be fixed. Here is the recommended way to dispute errors with the Consumer Reporting Agency. Continue reading “How to Dispute Discrepancies on Your Credit Report” »
Credit History – The Importance of Maintaining Good Credit
Credit (an agreement to repay a loan over time) is becoming ever more pervasive in our society. What used to be the exclusive privilege of the wealthy has only in the past 50 to 100 years become available to the masses. Continue reading “Credit History – The Importance of Maintaining Good Credit” »