5 Ways you are Killing your Credit Score

I know you are thinking, Tia, not another post on credit!  Yes, there have been quite a few posts on credit lately.  However, your credit score is so important.  It can affect if you are able to buy a house or car as well as the interest rate or total amount that you will pay for that house or car.  Literally, with a poor credit score your car payment could be over $500 and with an excellent credit score, that same car payment would only be $350 (or less).  In this post, I want to make sure that you’re not killing your credit score.

Before we dive into the 5 ways that you are killing your credit score, let’s look at the different categories that make up your credit score and their weightings.

  • Payment History: 35%
  • Credit Utilization: 30%
  • Length of Credit History: 15%
  • New Credit: 10%
  • Credit Mix: 10%

Now that we have reviewed the categories that make up your credit score and their weightings, let’s look at the 5 ways you are killing your credit score.

5 Ways you are Killing your credit score

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10+ Tips to Save Money on Back to School Shopping

Can you believe that the summer is already in full swing?  This year is flying by!  Many schools in my city start school at the end of July!  With a new year, it is also time to get supplies for school. Back to school shopping can get very expensive if you aren’t careful.  We will be reviewing 10+ tips to save money on back to school shopping.

Families with children in grades K-12 plan to spend over $650 on back to school shopping (when taking in consideration apparel, accessories, electronics, shoes and school supplies)!  Therefore, it is important to find ways to save money on back to school shopping however you can.

 

Tips to Save Money on Back to School Shopping-2

 

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7 Ways to Earn Money with your Car

We all have different goals as it relates to finances.  Whether your goal is to pay off debt, save money for a home, or even to travel, there are two key ways to accomplish those goals financially.  You can cut our expenses or you can make extra money.  Honestly, there are only so many ways to cut your expenses.  If you have a cell phone and a car, you are in luck because you can earn money with your car!

Today we are going to cover 7 ways that you can earn money with your car.

5 Ways to Earn Money with your Car

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Qapital: Making Saving Fun!

I don’t know about you, but saving money isn’t always fun, especially when it is a manual process.  In order to encourage saving and making it more exciting, the app Qapital was born.  Qapital makes it easy for you to automate your saving with weekly or monthly transfers.  In addition, you can also save money simultaneously with your friends.

I heard about Qapital back at the end of 2015 but there has been more and more talk about the app recently.  Qapital gained a lot of steam because of a popular saving app, Digit, started charging a monthly fee!  Digit was a favorite of many personal finance coaches and bloggers like myself because Digit would automatically save money for you each money based on your spending habits.  Normally a money fee wouldn’t be so bad, but Digit raised their fee from free to $2.99 each month.  Although Digit added some additional benefits with the fee, I don’t see the service being worth $36 per year.  So,

Normally a money fee wouldn’t be so bad, but Digit raised their fee from free to $2.99 each month.  Although Digit added some additional benefits with the fee, I don’t see the service being worth $36 per year.  So, Qapital is good if you are looking for an app to start saving automatically but it is also good as an alternative to Digit.

Think you don’t have enough money to put your saving on auto-drive?  An app like Qapital forces you to save.  It is as if the money is out of sight and out of mind.  Unlike putting your money into a saving account that you can see everytime you log online, the money is in a completely separate location.

 

Qapital- Making Saving Fun (2)

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What Financial Health Means to Me

June 27th is Financial Health Matters Day! In honor of Financial Health Matters Day (or FinHealthMatters Day), hundreds of personal finance experts around the country will be educating their communities on financial literacy. As a part of this partnership, today’s post will be outlining what financial health means to me.

My Facebook status eight years ago today was: “I am having the worst week ever.” 

I remember it like it was yesterday.  It was a warm Thursday during the summer of 2009.  I was feeling lost, afraid, and confused. I just lost my job and was wondering how I would pay my bills.

Thankfully I had a small amount of money saved – only about $1200.  In addition, I was owed one full paycheck.

Immediately I set a plan into action for survival – financial survival.  I made a budget based on the money I had in savings and what was owed to me in my paycheck to figure out how long I could survive.  Even though I didn’t have many bills (just rent, utilities, and my cell phone), I would still need money for food.  In addition, the money I was able to come up with would only last two months at most but I wasn’t sure how long it would take to find another job.

what financial health means to me

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25+ Free Activities to Enjoy This Summer

Today we are going to be discussing 25+ free activities to enjoy this summer.  The other day I asked my Twitter followers what they do in the summer to save money?  Some of the answers I received included:  I don’t save money in the summer, I just count the summer as an L, and that I avoid my bank account for the summer.

Although I was saddened by the answers, I am not going to lie.  When it is nice outside, it is tough to stick within your budget.  If you are anything like myself, then you want to enjoy the happy hours, rooftops, and other activities after work as well as on the weekend.  On top of that, there are concert announcements and flight deals every week!  The thing is, you can’t let all of your good financial habits throughout the year go to waste over a few month in the summer.

That is why I decided to come up with this list of 25+ free activities to enjoy this summer.

Free Activities to Enjoy this Summer

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4 Reasons You Should Increase Your Credit Score

Check out this latest guest post by Dan Miller regarding 4 reasons you should increase your credit score. See his bio at the end of the post.

A good credit score makes one’s life much easier.  It paves the way towards financial independence and aids in money-saving endeavors.  On the other hand, a shabby history of credit use reflects in less than stellar rating and inhibits your credit management.  It goes without saying that there are plenty of reasons to get on the right path to a clean credit rating.  There is a variety of prudent steps to take and best practices to adhere to.  Basically, to hold the reins over your finances and life, you have to stay on top of credit management and make on-time payments.

Check out these 4 reasons that you should want to increase your credit score.

4 Reasons you should increase your credit score

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8 Reasons you Should Keep Renting (Instead Of Buying a House)

Everyone around me bought a home in the past 2 years or is in the market for a home in the next 2 years. It is crazy!  Although we may be at that stage in life, purchasing a home isn’t for everyone.  Personally, I did a ton of researching before I realized that it was time for me to buy a home instead of continuing to rent.  I weighed the pros and cons, read lots of articles, and asked a ton of questions!

In order to help others that may be considering buying a house, a created the following resources:

If you are on the fence about renting versus buying, check out these 8 reasons you should keep renting (instead of buying a house).

8 Reasons you should Keep Renting

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6 Items that have the Best Resale Value (to make money fast)!

There are a couple of ways to make extra money quickly.  Of course, you could try a side-hustle like driving for Uber or freelance writing.  You could even try to open up a new credit card or checking account that comes with a bonus for signing up.  Typically, though, those options can take time to actually receive the money.  However, you may be able to find extra money by selling items that you have at your house.  Like the saying goes – one person’s trash is another person’s treasure.  Check out these 6 items that have the best resale value.

5 Items that have the Best Resale Value (to make money fast)

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The Ultimate Guide to Money for Recent College Grads

Congrats to all of the 2017 graduates!  It is awesome to scroll down social media and see all of the beautiful family pictures.  Now that you have walked across that stage it is time to welcome you to the real world.  By real world, I mean the world of additional bills and responsibilities.  Although personal finance is typically not taught in a traditional school setting, you are in luck.  I have created this ultimate guide to money for recent college grads.

 

The Ultimate Guide to Money for Recent College Grads

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