Archive for August, 2013


Quarterly Things to Do For Maintaining Good Finances

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Most people are only concerned with what they save on a monthly basis regardless of their financing’s standing or their credit score. Every quarter of every year, it is highly important to perform several maintenance to your finances, such as the following.

finance cleaning

1. Retirement Account Contributions
You have a retirement account and monthly your employer will just place a check or deposit money in it that would help you gain more when you finally get out of your job. However, it is highly important to take some time off to check your retirement account contributions. Sometimes, you get promotions and your employer may not indicate salary increases in your retirement contributions fairly.

2. Financial Instrument Management and Designation.
Your insurance, retirement accounts and annuities, all financial instruments, are designed to benefit you and your family. However, if you could not make use of these financial instruments in your lifetime or you unfortunately pass away before the maturity of your accounts, you could assign a designated beneficiary that you choose. It is important to check and confirm your designations or else all your work would be in vain.

3. Credit Scores
You might be sure you are paying your dues on time, but are the credit bureaus indicating the same thing? It is highly important to check your credit scores and ensure that you are on a good rating. Else, you’ll have something to make up for in the future.


Improving Your Credit Scores

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Improving your credit gives you more than just lower interest rates. Here are a few tips that will allow you to improve your credit score and reap benefits.

1. Use Your Greens
Today’s economy makes for a frugal consumer. Saving up for the things you want is a better option than using financing. Save your financing for your child’s education, a new vehicle needed for work or for improving the house. This helps stabilise or improve your credit.

2. One at a Time
With a stable occupation, most people take on multiple financing, which automatically lowers credit scores. Multiple financing resets your credit median gauge back because you haven’t performed yet on your new financing. Multiple financing also puts you at risk of not paying your bills on time.

3. Ask for Lower Interest Rates
Lenders can allow you lower interest rates if you have a high credit score. Assess your current credit services and request for lower interests with your more-than-a-year or years credit cards. You’ll find it easier to manage with high debt.

4. Pay on Time
Paying on time and in full allows credit companies to place you as a priority borrower because you could pay on time. This gives you greater opportunities for higher financing or lower interest rates.