Last post we discussed how interest works for you when you’re investing your money and are in the position of earning interest. This is especially true when you leave the interest you’ve earned in the investment and let it compound. Now that you understand how interest works, let’s turn the tables around and talk about… Continue Reading »
When I was born my father was a very wealthy man. We lived in an 8,000 square foot house on five acres of land that backed up to a creek in the middle of Dallas, Texas. I would go to toy stores and point to the things I wanted, and they magically appeared in this… Continue Reading »
In my previous two articles, I discussed how your total debt accounts for 30 percent of your score while 35 percent of your credit score is affected by your credit history. Today I’ll discuss the remaining 35 percent of your score; it’s divided into three areas and they’re all just as important. The Length of… Continue Reading »
In a previous post, we discussed how the amount you owe others represents 35 percent of your credit score. Another 30 percent of your score is based on your credit history — specifically, how you’ve paid your bills over time. What are the factors in my credit history? There are five factors that are considered… Continue Reading »
Your credit score, also known as your FICO score, is a number between 300 and 850, the higher, the better. Did you know that 30 percent of your FICO score is comprised of the amount of debt you owe? Once the details are understood, then it’s easier to figure out how to improve your score…. Continue Reading »
Credit reports are used when you apply for a loan, apply for insurance, and yes, even when you apply for employment. Thus, it is imperative that your credit report is accurate; any errors will hurt you. Everyone is entitled to one free credit report each year from each of the three credit bureaus: Experian, Equifax,… Continue Reading »
