Recent Posts

  • 3 Things Your Will Want To Know About As...

    April 25th, 2016

    If you are looking for a secure way to invest your money for retirement, putting your assets in gold and silver is a good idea. Before you get started investing in gold and silver, there are a few things that you will want to know first, such as what you pay taxes on and the best places to invest. You [...]

  • How To Get The Best Leverage When Shoppi...

    December 30th, 2015

    If you’re ready to buy the home of your dreams, shopping for the right mortgage can be complicated and time consuming. A mortgage broker can help you with finding the best lenders and available rates, but much of the final outcome depends on a few things you can do to make sure you’re getting the best deal. When you’re ready [...]

  • 3 Things To Know About Payday Loans

    August 24th, 2015

    When it comes to needing money quickly, you may want to rely on the assistance of payday loans. These are ideal to help you face any financial emergency that comes your way. Many people live from paycheck to paycheck, and when a medical or another expense comes up, this can be difficult to handle. Knowing specific things about payday loans [...]

  • How To Use Credit Cards As A College Stu...

    August 10th, 2015

    When you are a college student, chances are excellent that you do not have an extensive credit history, since you have just become an adult. This can be frustrating for students who need to take out loans to pay for cars or textbooks. Luckily, it is very easy for these college students to build credit by getting a low-balance credit [...]

  • 3 Ways To Cover Last-Minute Expenses For...

    July 24th, 2015

    If you’re an expecting parent, you’re going to be faced with all sorts of new expenses. Raising children is very expensive these days, and you may not always be able to get all of your finances in order as the due date for the baby approaches. Fortunately, if you are an expecting parent, there are options available to you when [...]

  • Boosting Your Credit Score Helps You Get...

    June 30th, 2015

    Most people aren’t able to walk into a car dealership, put thousands of dollars down on the counter, and drive out with a new car. Instead, for most people, purchasing a new car includes getting an auto loan. Trying to get a good auto loan can take some work. In fact, it’s something that you want to start doing well before [...]

  • Saving And Investing Without Entering Th...

    June 15th, 2015

    It’s always important to remember there is no such thing as a riskless investment. It’s just that some vehicles of investment inherently come with more risk than others. The most riskless of investments are traditional bank options: Checking accounts Savings accounts Certificates of deposit Money market accounts In most cases, these types of accounts are interest bearing, easy to set up, and usually easy to [...]

Debt Organization

Debt Organization

Before you can pay your debts, you must first know what all of your debts are. Develop an organiza-tional system that will allow you to keep track of total debts owed, creditor information, and fees as-sociated with your debts. This will allow you to get a handle on all of your outstanding debts so that you can begin repayment. This system will also allow you to identify any debts that may have been reported incorrectly or are the result of fraudulent activity using your identity.

Prioritize Your Debts

Prioritize Your Debts

Unless you win the lottery or receive a large inheritance, you will not be able to pay off years worth of debt all at the same time. In order to minimize the impact on your credit score and to ensure you are able to meet your most basic financial needs, you will need to prioritize your debts and focus on repay-ing the most important debts first. These priorities will often be decided based upon need and poten-tial fees associated with each debt.

Minimum Payments

Minimum Payments

Credit accounts typically require only a minimum amount of the total due is paid each month. Howev-er, choosing to pay only this minimum payment can have a negative impact on your credit score and your overall financial stability. Learning how these minimum payments can impact your overall debt will allow you to make smarter decisions regarding how you can best use the resources available to you. For instance, choosing between making several smaller payments to multiple creditors or one lump sum payment to a single creditor.