Having poor credit is like having bad in-laws; every time you try to do something it’s there trying to make your life miserable. The good news, however, is that more and more lenders are starting to give loans to people with poor FICO scores. In fact the increase in lending to subprime consumers (i.e. people with bad credit scores) rose by 41% in the last year. Experts predict that this trend will continue to increase as banks ease up on their lending restrictions. Considering that millions of people also have less than stellar credit it’s really no surprise that the banks are starting to cozy up to them again.… Read the rest
To the average person a ‘lender’ is a bank or other large institution that is faceless, nameless and all powerful. While it may seem that banks and other lenders are heartless (and indeed some are) it helps if you know a little about credit institutions and how they work before you go off all half-cocked trying to figure out why you can’t get a car loan with a credit score of 163.
The simple fact is, lending money is a tricky business. Let’s look at in for a moment on a much smaller scale. Say your friend Jim asks to borrow $100.00 and you say yes but as long as he pays you back by next week Friday. … Read the rest
Debt is something that no one wants to think about, but unfortunately, for many people, it is not only unavoidable but also inevitable. Poor spending habits coupled with a lack of willpower to avoid making purchases can land people in debt much quicker than they realize.
There’s only one thing to do, though, when you find yourself in debt: get out. Because of that, there are a few important tips that everyone needs to know about how to manage and pay off debts easily and efficiently.
Avoid It In The First Place!
This may sound simple, but it’s an obvious tip for those who have been in and struggled through debt.… Read the rest
One of the most forgotten ways to stay on budget is also the easiest; using cash for all of your purchases. It seems simple really and even a little outdated but the fact is that many people have lost sight of the actual worth of their money. With credit and debit cards so easy to get and to use the temptation to overspend can be very high, especially when a lot of credit cards give ‘cash back’ rewards for using them.
The fact is, physically handling money and having to give it to someone for your purchase is much different than swiping a credit or debit card.… Read the rest
Sadly, many people all over the world have let their personal financial situation get out of control. This is typically because they have not been properly educated on the right ways to spend and save. You do not have to worry; this article offers you sound advice to help you prevent disaster with your personal finances.
If you can, put money into an IRA. This will enhance your personal finances in the future! Interested parties could open an IRA account through brokerage firms, credit unions, banks or even through mutual fund companies. Contribute to this fund monthly and watch your retirement fund grow substantially.… Read the rest