Pay on time: Being punctual with your monthly payment is one of the most important things you can do to your credit score. Falling behind with 30 to 60 day late payments, does not have a long-term effect on your score (the slate is usually wiped clean as soon as the check arrives), but 90+ day late payments can have much more negative consequences.

Be Mindful of your Balance: Just because you have a $20,000 line of credit, doesn’t mean you should start maxing out the charges. More is not better with your credit score when it comes to debt levels. A general rule of thumb is to keep your balance under 35% of your max or as low as 10% if a major loan is being planned in the near future.

Rotate Your Cards: Don’t close old accounts once you’ve paid them off or if find that you no longer use them. Instead, you should make a purchase, even if it is small, every 6 months to keep them in active mode and improve you credit utilization ratio.

Focus on Credit Limits: Check out your credit score to see if your credit limit is being accurately reported; ask for any mistakes to be corrected to improve your overall credit ratio. Also, you can request that your available credit line be increased to make your debits-to-available-credit appear more favorable. If you go this route, make sure that you won’t be tempted to spend your new “windfall” and also ask before the increase is made if your credit is going to re-evaluated as a “hard-inquiry.” Apparently too many hard-inquiries in a one-year period can have a negative impact on your score.

Contact Collections Agencies: If the payment of a bill sent to collections lowers your outstanding debt, you should contact the collections agency to work out a deal and make sure that they have marked your account “paid” or completely removed the note from your credit report.

Todd Denning

Lean Investor

Strategy, suggestions, and solid advice for today’s no-nonsense investor

http://www.leaninvestor.com/

Article Source: http://EzineArticles.com/?expert=Todd_Denning

A bad credit score can cost you dearly. But it’s not difficult to improve your score and start saving some serious bucks.

The first step is to find out what you score currently is, then we can work out if it needs fixing. To get your credit score click here

And it’s not even that difficult. So buckle up and let start our journey.

Regards

Rachael

PS. I’m also going to let you in on some amazing ways you can actually make more money than you’ll know what to do with. I’m so pleased you let me show you this stuff. Thanks

Enter your details here right now to secure your copy – FREE today!!!

Firstname:

Email:

We’ll email you this incredibly powerful audio book that’s responsible for more new millionaires than I can count. But it may not be here tomorrow so make sure you secure yours now.

CLICK HERE TO CONNECT WITH US ON FACEBOOK FOR MORE GREAT STUFF

Kind regards
Rich

Here’s an EXTRACT of the Book to Give you an idea
My belief is that if you are not just curious but committed to excelling in your life in the 21st Century, then what you will find in this book will be a real gift to you from someone who is committed to helping you achieve similar things if you so desire.

You can join the thousands of others who are applying these strategies and improving their lives immensely. I know I was extremely grateful when I first learned this information – an education for life. In this book you will learn:

* How to develop the mindset of a millionaire
* Why most people fail
* The history of money, how the systems control it and why you must understand this, and why you must understand this to understand the current Global Crisis and why the worst may yet be to come.
* A real life 21st century modern day education that enabled me to excel financially, more than what I learned at school or university
* How to rewire your subconscious mind for financial success
* How to generate instant cash flow, even if you have little money to start with
* How smart investors earn $35,000 per year from investment property – Tax Free
* What you should have been taught at school, but were not
* The 4 key skills you must master to succeed in the 21st century and how others have used these to earn over $100,000 p.a.
* The 5 key components of a 21st Century Education that should be taught at school
* How smart investors are replacing their income in 90 to 180 days or less by using a unique renting strategy
* 8 ways investors raise money to start investing immediately, even if they have no money
* How to easily develop the mindset of a millionaire and think like a winner.

In this updated edition I’ve also added chapters on how to make $1000 to $5000 a week trading the E-minis market, a chapter from one of my millionaire friends about how he makes millions using property options and a chapter from my accountant on how to minimize your tax and protect your assets legally.

I have also added a chapter on a typical day in a millionaire’s life for a recent 30-day period as I find reading books by other successful people is a valuable way to learn more distinctions by reading about what they do on a day to day basis. I also share some of things that have been happening in my life since releasing this book way back in 2002.

Since the first release of this book in 2002 the world has changed dramatically, especially with the Global Credit Crisis and stock market crash that occurred in late 2007 and continues well into 2009 and is likely to continue for sometime.

This means the rules of investing have completely changed especially the buy and hold strategy financial planners have espoused for decades which has proven to be a disaster for most investors who continued to be charged outrageous commissions for financial advisers to lose there retirement funds.

However many of the strategies I taught back in 2002 are still as effective today and some more so thanks to the Global Credit Crisis causing such stock market volatility. To accomplish these objectives, I believe it is important to share parts of my story to make it more relatable and also spend time on developing a solid foundation of understanding the big picture of money and how to change our thinking to be more effective at implementing these exciting strategies.

If someone told me fifteen years ago that this is how my life would be I would never have believed them, especially from where I was starting. I share the following with you, not to impress you but to impress upon you dreams do still come true. They did for me and I believe they can for you.

You can join the thousands of others who are applying these strategies and improving their lives immensely. I know I was extremely grateful when I first learned this information, so I commend you in advance for taking action and developing a 21st Century Education, an education for life.

I would be honored if you would consider me as a friend, a coach, working together through this book, step by step creating and redesigning your life, with an emphasis on improving your financial results until you produce the results you ultimately desire. Let’s begin shall we, as it is an exciting journey you are
starting on.

Is the bank ripping one of them off? Well almost, but there’s a good reason for it and it’s one of the BIG TIPS for saving a bundle of cash. You see the rates people pay is based on what the bank sees as their risk. The higher the risk they think you are, the higher the rate you’ll pay.

So how does the bank determine what level of risk you are… they look at your credit score. Your Credit Score is a number that is derived from your Credit Report. They look at all the stuff on your Credit Report, like the loans you have, applications you’ve made, your defaults, even any failure to pay the late fees on your videos.

When they’ve done all the math on it, they come up with a number – your Credit Score. If your Credit Score is higher you’ll likely be offered a much better rate. But if you’ve got some bad stuff on your Credit Report, your Credit Score will be low and the banks will charge you more. So the Bank isn’t really stealing from you, but they don’t go out of their way to explain how it works and how to get a better rate.

Stay tuned for our big tips on how to improve your Credit Score. This single tip alone could save you thousands of dollars every year.

Bye for now
Richie

We are all reliant on money to live. It’s a simple fact. When people say “money doesn’t buy happiness”, that maybe true… but you can’t live on air alone. You need food, energy, water, and a thousand other things that cost money.

Plus it’s a fact, the more money you have, the longer you live. I think it’s because you can pay for better quality food and better health care.

However the issue is not so much that you need money to live, but that we’re all conditioned by the “System” to always want more and always be in debt. I truly believe that we are Prisoners to Money and our Masters are those who control money i.e. the Banks.

Do you know own owns the US Federal Reserve? Most people answer the US Government, but you would be wrong. It’s owned by a Cartel of the big Banks. That’s why I’m so passionate to give you ways to take some control back and keep more money in your pockets, not the banks’.

More to come.

These are easy ways to start saving money today. If you need to save money to buy a large product like a car or an apartment, or if you need to set aside an emergency fund, or if you need to pay off some credit card debt, follow these simple steps and you can start saving money.

It is going to take a few months to a few years depending on your savings goal, so go ahead and set your monetary goal right now. Do you need $1,000, $5,000 or $10,000? Do you maybe only need $500? Set that goal down and write it on a blank piece of paper. This number determines how long you need to cut back on spending habits.

Take your goal and either divide it by the amount of money you think you can set aside each month (eg: $50) or by the number of months you would like to reach this goal (eg: 2 years or 24 months). The first option will tell you how long it will take to get to your goal (for example, by saving $50 each month), and the second option will tell you how much money you will need to save each month to get that amount of money in time.

It is helpful, though not necessary, to spend a day or even a week tracking where your money goes. That way you can see how the little purchases – a coffee here, a new shirt there – add up and could be better off in your savings account. If you use a debit card to spend money this can be as easy as looking at your statement each month. Try putting these items into categories such as food, bills, and gas expenses. How many of these items were needs? How many were wants?

If you notice that you are spending your money on too many wants, you can consider other ways to have fun or eat without spending money. Look up free shows, museum passes, listen to music, or watch movies from the library for some free sources of entertainment. Try to set a grocery budget each week and stick to a shopping list so that you can cook your meals and you will be less likely to order out. For new clothes, consider that most people only use about 10-25% of their entire wardrobe. Dig out some clothes you may have forgotten about and cycle those into your regulars, or borrow from friends. If you really need new clothes, stick to a budget and consider selling or donating your older clothes so that you can free up some space.

After you figure out where your money actually goes, the next step is to figure out where your money needs to go. Figure out your monthly income (the amount you take home from working). Write down your fixed expenses for the month such as: rent or mortgage, utility bills, internet and phone bills, credit card bills, car payments and insurance, health insurance, gas and food. Hopefully these alone will not total your income, because we need to save room for things that are not monthly like doctor visits, hair cuts, maybe budget some money for new clothes every season, etc. After this is all calculated figure out the difference between your expenses and your income. That is the amount of money you can safely save, without cutting anything out. If there is little to no money left over then you may want to consider getting more hours or a second job if this is possible.

If you cannot make additional income then you need to cut back on spending. This part is uncomfortable for many, which is why very little Americans are saving money right now, even though we need to have money saved up for emergencies and large purchases. Consider the things you can do without for at least the time you’ll need to save money for your goal.

1. Do you need internet, cable, or your cell phone AND a land line? Consider dropping your landline and your internet to save money and going online at the library for a while.
2. Do you absolutely need cable? You can keep the internet instead and drop the cable and watch many episodes for free online.
3. Do you need to buy that daily cup of $4 coffee? A daily $4 coffee habit is $120 a month. Cutting that alone could be a nice savings each month and the costs of brewing coffee at home are miniscule.
4. Are there other little areas like the coffee habit model that you can take control? How about cigarettes or eating lunch at the same place everyday?
5. Is there a gym membership wasting $20 or more each month? Cancel it and work out outside or at home.
6. Do you need to spend money on brand name products? Go to your local discount supermarket and buy most of the things there. It is okay to splurge on good quality vegetables and meat, but for the most part, saving is the name of the game.
7. Find ways to keep yourself groomed for less, especially ladies. Do your nails at home, take longer in-between hair cuts, and dye your hair at home with the help of a friend.
8. Drinking is expensive, especially when done at nightclubs. A once a week cover fee of $20 is $80 per month, not including drinks and parking and other purchases. One can easily spend $50 or more on a single night.
9. Is your bank practically stealing money in fees? Find a better bank, and watch your money so that you don’t waste money on overdraft fees or bounced checks.
10. Are you throwing money away paying your bills late? Keep a calendar up to date and set reminders on your phone or set up auto-pay through your bank so that you can avoid this.
11. Is your car, home, or health insurance the lowest it can be? Search for quotes to make sure you aren’t wasting money on that, either.
12. How often are you eating out? Cut this number in half or avoid eating out altogether, save for special occasions. Why pay for someone to make it when you can make it yourself?
13. Is your cell phone bill the lowest it can be for the features you want? Do you need texting right now? Find a way to lower it if possible. Cell phone plans are as low as $30-40 a month nowadays. However, Smartphones require a data plan which tacks on $30 or more per month, so if you want those features it is unavoidable.
14. Is there anything you can sell that you no longer use? Look around the house and sell on Craigslist or eBay for some quick cash in a pinch.
15. If this is not a priority right now, consider paying the minimum payments on your credit cards for the amount of time it takes for you to reach your goal. Focus on not using your cards at this time.

These are just a few tips to get you thinking about ways you can save money. It can seem daunting at first, but after a while you will not notice the things you are doing without. All it takes is a little bit of delayed gratification to get what you really want, be it a new car, apartment, or whatever you can dream – with some money saving tricks and a lot of patience, you can do it.

Dehlia Buckley is an original creative content, SEO, and ghost writer. You can see her portfolio at [http://freelance.hopeisnotlost.net] or email her at dehlia_buckley@yahoo.com to hire her for writing work.

Article Source: http://EzineArticles.com/?expert=Dehlia_Buckley

We all like to think that we are doing the best we can when it comes to our finances. We think we are saving money, but we’ve never actually sat down and done the math. You could be surprised if you did.

Here are the top five money saving myths that we fall for:

Myth #1 Savings accounts save us money

Having money in a savings account for emergencies is a good idea. It’s easy to get to, but not too easy. But if you are looking to save money or make your money work for you, an old-fashioned savings account isn’t necessarily the best way to go. First, you have to look at what you are paying out in interest rates. For example, if you have a student loan with a 5% interest rate and a savings account making 3% interest rate, your savings are costing you approximately 2%. You would be better off paying off that student loan with your savings account.

It goes the other way around too. If your debt has less of an interest rate than your savings, your money is working better in the savings. But with today’s interest rates being so low, your debt is probably higher than the amount of interest you are earning on your savings account. That means you are actually losing money.

Myth #2 Sales shopping saves money

I used to be a shopaholic, and sales were my drug of choice. Let me tell you that you aren’t always saving money. Yes, if you really needed the item, then you are saving money. But sales often lead to the purchase of items that normally wouldn’t be purchased. And you usually buy twice as much because it’s on sale. So you haven’t saved any money.

Then if you never use the item, you’ve actually wasted money. This can also apply to bargain shopping and shopping in bulk. It doesn’t matter if you bought your daughter 35 pairs of shoes at garage sales for $1 each. If she only wore two pairs of them, you just wasted $33.

Myth #3 Refinancing your home pays off

When you refinance your home, you aren’t necessarily saving that much money in the long run. Yes, your monthly payments are smaller, but you have refinanced for another 30-year term. This means that if you have already paid 10 years of mortgage, then refinance for another 30, you have basically extended your loan to a 40-year mortgage. Sit and do the math and you’ll see if you are really saving anything.

If you really want to save money, refinance for a lower rate and a shorter term. Your monthly payment may not go down, but your overall repayment may.

Myth #4 Zero percent interest saves money

When you take out a card with a zero percent repayment term, you aren’t saving money. You are just delaying paying for items. You don’t save and you don’t spend more. But if you don’t pay the money back within the zero percent period, you’ll be paying interest on those items. That costs you money.

Myth #5 Savings is dependent on income

No matter how much you make, you can save money. You simply have to spend less than you make. If you make more money and spend more money, you aren’t saving anything. In fact, you could even be spending more. Don’t wait until you have more money to start saving. You have to start now.

Martin Lukac represents RateTake Refinance Loan marketplace. RateTake matches consumers with multiple lenders offering low rates. Got too much credit debt? Get Debt help and you’d be surprised what we can do together.

Article Source: http://EzineArticles.com/?expert=Martin_Lukac

Today’s Top Tips

Here are our Some Tips and Techniques to Save a Bundle of Cash. Most people don’t know where their money goes; it just seems to disappear and at the end of the week they’re struggling to make ends meet. This puts enormous pressure on the family and if you’re the person in charge of the finances, you know that feeling of never seeming to have enough.

Here are this week’s Tips for Saving Money…

Tip #1: Find Out Where Your Money is Going Now

It’s proven that how much you save is NOT directly related to how much you earn. Even people on smaller incomes can save money, if they know how. It’s not how much you earn, it’s what you do with it that counts. So if you’re sick and tired of never having enough, here’s the first, most important step. Get a Notebook and write down everything you spend for 1 week. I guarantee if you do this one thing you’ll uncover some very interesting things about your money habits. Because if you don’t know where your money is going now, how will you ever know what to fix.

Tip #2: Do a Budget

With the information you’ve gathered in Tip #1, site down with the family and create a budget that everyone agrees to. Don’t forget to add your monthly and annual expenses like utilities, school fees etc. There’s a template on our FB page you can use for free… Budget Planner When you review your budget it’s a very simple rule that you MUST follow. The rule is this…

You Must Spend Less Than You Earn

This is such an obvious statement but most people don’t think like this. But, if you really want to get out of that endless cycle of never having enough, you must live by this rule.

Tip #3: Pay Yourself First

If you serious about saving some cash, then this technique works great. Basically, each week before you buy anything, or pay any bills, you pay a small amount into a savings account as Savings. Then you live on what’s left. It doesn’t have to be much but of course the more you put into this account each week, the more you’ll save. This technique works because we humans tend to live to our means; the more we earn the more we spend. So by paying yourself first you’re effectively forcing yourself to live on a bit less each week. It’s surprising how you don’t miss this little bit each week, and you’ll be equally surprised how fast it grows; as long as you do it every single week.