Smart Military Money
Personal finance tips andadvice for the military lifestyle.
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You might be surprised to know that errors in a credit report can and do happen. In fact, a recent study suggested that as many as 1 in 4 people found a discrepancy in their own file, and it isn’t just spelling errors that might be causing damage. Certain kinds of omitted information can be harmful as well, triggering a drop in your credit score and a limited access to future credit.
How can you determine if your credit report is hurting from missing information? What should you do about it?
We’ve all seen “going green” become an increasingly popular trend in recent years. Whether that means recycling, buying an eco-friendly car or conserving energy, environmental consciousness is important for the planet and for our resources. But what you might not know is that it can be important for your wallet, too. You could even save up to $113,000.
Many people think of going green as a costly endeavor. Although it might take more time and effort, Sara Tetreault of GoGingham.com and her family prove that it is not costly and is, in fact, a giant money saver.
Check how Tetreault dishes on her money-saving techniques and eco-friendly living.
In a world where your credit score may affect everything from your home loan to car insurance rates, it is no surprise that everyone is looking for that quick fix to bump their score a few points. Although major improvements in credit take several months (and sometimes years) of responsible credit usage and money management, some personal finance blogs recommend raising your credit limit.
It’s that time of year again. The holiday decorations have come out and so have the wallets.
You might think that the only way to have successful holidays is to spend copious amounts of money, but this is not so. There are several ways you can financially prep for the holiday season — without feeling like Scrooge — so that you fulfill all your holiday desires without breaking the bank.
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Car loans have become standard for most Americans. In fact, car loans now last an average of more than five years, according to the credit-rating company Experian. This means the public will most likely make high car payments every month for a good portion of a decade.
Experian found that for new car buyers, these monthly payments average $452, and for used car buyers, the payments average $351, according to an article from Credit.com. Although interest rates remain low, these payments can be daunting.
So are there ways to lower your car payment? And under which circumstances would this be possible?
Summer may be over, but your debt from summer travels might not be. There’s nothing wrong with treating yourself and your family to a relaxing vacation, but you might have spent more than you planned for initially.
“It can be especially hard to pay off debt for something like travel, where you’ve already ‘used up’ what you have purchased,” said Gerri Detweiler, Director of Credit Education at Credit.com. “But paying if off quickly means you’ll free up money toward other financial goals.”
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From your mailbox and the mall to your evening TV time, credit card offers are everywhere.
As annoying as these solicitations are, credit cards are an important part of your debt mix and credit rating – 30 percent of your credit score is determined by the amount you owe weighed against your available credit. As credit cards become more prevalent and easier to use, it’s understandable that so many people are overwhelmed with out-of-control balances. Big balances can lead to excessive interest charges and a decrease in your credit rating.
But avoiding the swipe isn’t always the answer. Without an open credit card, your rating will be artificially low. Still, there’s ways to boost your credit score.
Some form of debt haunts most Americans. But a new study reveals that members of the military accrue debt at alarming rates when compared to civilians. This debt can endanger service members’ financial lives (and their jobs) if left untouched.
Approximately 36,000 active members of the military have security clearances recently requested financial help due to large debt threatening their clearances, according to nonprofit VeteransPlus in an NBC News article.
It is Labor Day weekend, so we hope you get that extra day off to relax. For now, take a look at this week’s military personal finance roundup. Whether you’re curious how your credit card number is created or looking for cheap ways to tailgate, we found what you need. See More
You probably know how to improve your credit with a credit card. You might even know how to improve your credit several ways other than using a credit card. But do you know how to boost your credit with a personal loan?
If you’re planning to try using a personal loan to improve your credit score, there are both benefits and downsides to doing so. If you go about it the right way, however, it can be a helpful way to raise your credit.
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