Although each credit reporting bureau keeps the specifics of their credit scoring models a closely guarded secret, the general categories that factor into credit scores are widely known. In general, here’s what goes into a credit report, which is then used to calculate your credit score: Payment history, approximately 35%: Paying the amount due on…
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What Should You Do With Your 401(k) When Going to a New Employer?
Have you ever wondered what happens to the money in a 401(k) once you leave a job? Have you made the mistake of withdrawing it and got hit with taxes? A 401(k) (or a 403(b) if you’re a teacher or work in a non-profit) is one of the most powerful investing accounts you can have….
7 Steps to Paying Off Your Student Loans Fast
1. Make more than the minimum payment The simplest way to pay down your debt more quickly is to make more than the minimum payment each month if you can afford to do so. Just be sure your loan servicer is applying the extra money to your principal balance instead of putting it toward your…
What Is the 50/30/20 Budget, and How to Use It Effectively
What Is the 50/30/20 Budget, and How to Use It Effectively Everyone has their own thoughts on how you should budget. From experts speaking on the latest applications for online money management to bloggers giving personal perspectives on cash-only lifestyles, you won’t find a lack of advice in this sector. The 50/30/20 rule is easy…
How To Successfully Build An Emergency Fund
How to Build a Successful Emergency Fund What is an Emergency Fund? An emergency fund is a stash of money set aside to cover the financial surprises life throws your way. These unexpected events can be stressful and costly. What Does an Emergency Fund Pay for? An emergency fund should cover 3-6 months of living expenses….
Pay Off Your Mortgage Early: Easy Tricks Anyone Can Use
Pay Off Your Mortgage Early: Easy Tricks Anyone Can Use Written by Redfin Contributing Guest Blogger/Author Jeff Anttila There are two ways to own your home. Either you can pay cash upfront or you can pay little by little, year after year. For most us, monthly mortgage payments are really the only feasible…
4 Investments With Less Risk Than the Stock Market
4 Investments With Less Risk Than the Stock Market Many new investors fear the market. The thought of their money decreasing in value scares people. In this blog, I will share 4 different types of SHORT TERM investments that carry less risk than investing in the stock market. This information is important to understand because…
Should You Pay Off Debt Or Invest- Which One Is Best For You?
Should You Pay Off Debt Or Invest- Which One Is Best For You? This is a common question that many people ask themselves but do not have the answer. The reason for that is because it is very difficult to come up with an answer as your personal answer will be subjective depending on your…
Four Things You Need To Know Before Negotiating a Raise
Four Things You Need To Know Before Negotiating a Pay Raise As a millennial, I often hear that we are not hard workers and we get complacent, we want everything handed to us, and we expect to make the most money although the productivity does not match. These things are constantly being thrown at…
Want to Help Pay for your Child’s College Tuition? Follow These 4 Steps
Want to Help Pay for your Child’s College Tuition? Follow These 4 Steps We are in a new day and age where college tuition is rising uncontrollably, and student loan debt is reaching an all-time high year over year with no direct plan in sight. We are now at a point where college tuition…