Do you have a “thin credit file”? If you do, you’re one of the 25% of Americans who have little or no credit history and don’t use credit enough to build a sufficient FICO credit score. Since having “good credit” (and a good FICO score) is extremely helpful in many ways financially, we decided to put together a blog today to help people who want to start building their credit but either don’t want to or simply can’t get a credit card.

Indeed, there are quite a few ways to build up your credit that don’t require you to have a credit card at all, including credit builder loans, alternative credit scores and Passbook or CD loans.… Read the rest

No matter the economy or what a person’s income is, saving money has those been a passion of many people and one of the best places to save money is by improving your home. When it comes to one’s home, seeing as how it’s most likely your largest investment, you don’t want to be a cheapskate here. Whether it’s adding insulation to the attic to save on energy bills or adding a deck out back to increase the home’s value, home improvement is an excellent way to save money immediately and in the future.  There are some remodeling and home improvement jobs that are DIY but many of the big ones that can really increase your homes value like a whole room remodel.… Read the rest

Did you know that there are 7 Keys to many different things in this life? For example, we all know that effective leaders have seven habits, that there are seven different types of intelligence and that there are even seven steps to get to heaven.

Now, courtesy of the Society of Actuaries, we have the 7 tips for a sound retirement.  They just released her a new 64 page report entitled ‘Segmenting the Middle Market: Retirement Risks and Solutions Phase 2 Report’. Not the most inspiring of titles, we’ll admit, but then again these people are actuaries.

In their report they say that financial planning for retirement requires a methodical approach.… Read the rest

Whether you want to save money for a big trip or you have simply realized that you are living beyond your means, it is time for you to start budgeting. Now we all know the basics of budgeting, but the truth of the matter is that making a budget and sticking with it are two different things. How can you make sure that you stick with your budget without going crazy or simply disregarding it?

First, get everyone to help you. Sometimes, you are simply going to forget about that thing that you should be doing or not doing, and when you do that, it can help to have people remind you.… Read the rest

Savings accounts are often bashed for their low interest rates, but they in reality they provide a save haven for your hard earned money.  The economy has been in turmoil for the past several years, and despite signs of improvement most people are still unsure if the improvements are here to stay.  Inflation is always a concern, but the past couple years have been nearly inflation free, and that could very well continue into the next few years as well.  While interest rates on savings account aren’t exactly at peak levels, they do provide a return that is virtually risk free.… Read the rest