Finance Globe

U.S. financial and economic topics from several finance writers.

How to Build a Good Credit Score Without Racking Up Credit Card Debt

good-credit-score
Many people have made the mistake of thinking building a good credit score requires that you go into debt, but that's not actually true. Unfortunately, charging up high balances in an attempt to build your credit score can backfire. If you ever fall behind on a payment or two, you can wind up with worse credit and a mound of debt that takes years to pay back. While borrowing money is part of building credit -...
Continue reading
  3551 Hits
  0 Comments
3551 Hits
0 Comments

How the 50/30/20 Budget Works

woman-calculator-desk
One of the hardest parts of creating a budget is figuring out how much money you should spend on all your expenses. What's the right amount to spend on housing? Or transportation? Or entertainment? Having a guide to building a budget helps keep your spending in line. That's one of the benefits of the 50/30/20 budgeting method. Your spending on certain categories is kept within a certain percentage of your monthly income, so you can figure...
Continue reading
  2813 Hits
  0 Comments
2813 Hits
0 Comments

5 Ways to Simplify Your Finances

financial-organization1
The more complicated your finances are, the harder it is to keep up with everything. You'll spend more time and effort trying to manage complicated finances and the stress of dealing with your finances may cause you to procrastinate. Overly complicated finances could lead to more expensive mistakes like missing a payment or overdrafting your bank account. If you've been feeling like your finances are all over the place, there are a few things you can...
Continue reading
  2900 Hits
  1 Comment
Recent comment in this post
Wanderer
Good ideas to try and manage your finances while keeping the methods to do it simple so you will do it! For myself, I build and an... Read More
Thursday, 07 November 2019 21:23
2900 Hits
1 Comment

Why The APR is the Most Important Factor In Borrowing

time-to-change-financial-habits1
Many people choose credit cards and loans based on the features, benefits, or the monthly payment, but there's a more important factor to consider - the APR. This number tells you how much you're actually paying to borrow money. The higher the APR, or annual percentage rate, the more you're paying when you borrow money. Finding the APR Looking at the APR gives you a better way to compare loan of the same type to each...
Continue reading
  3011 Hits
  1 Comment
Recent comment in this post
Wanderer
Good points offered on the subject of Aprs. With that said, there is one thing to keep in mind, try not to acquire debt on high in... Read More
Thursday, 07 November 2019 21:28
3011 Hits
1 Comment

Five Tips for Budgeting a Fluctuating Income

budget-faling1
Coming up with a solid budget is tough even when you have a regular income from a job or business. Budgeting a fluctuating income can be even more difficult because you can't be sure how much money you're bringing in. In these situations, having a plan for to manage an unpredictable income becomes even more important to ensure all your monthly expenses are met without getting into debt or overdrafting your accounts. When you're self-employed, working...
Continue reading
  3223 Hits
  0 Comments
3223 Hits
0 Comments

Getting Your Credit Back on Track After Bankruptcy

woman-frustrated-debt-credit-cards
Filing bankruptcy can affect your credit more than almost anything else, but that doesn't mean you should avoid bankruptcy if it's the best solution to get your finances back on track. Bankruptcy can be the perfect opportunity to start over and rebuild your credit. Here's how you can do it. Make sure your bankruptcy is reported correctly. Order copies of all three of your credit reports. You can use AnnualCreditReport.com if you haven't already received a...
Continue reading
  2907 Hits
  1 Comment
Recent comment in this post
Frank
Very helpful information! I hope everyone can get back on track from bankruptcy.
Thursday, 31 October 2019 10:06
2907 Hits
1 Comment

Why Debt Collectors Check Your Credit Report

past-due-letter-collections
Debt collectors do several things to try and collect debts from you. If you've ever had an account in collections, then you're already aware of the phone calls, letters, and placing the debt on your credit report. They also pull your credit report to get more information on you. Unlike most other businesses, debt collectors don't have to ask for your permission before they check your credit report. Credit reporting law automatically allows collectors to check...
Continue reading
  3207 Hits
  1 Comment
Recent comment in this post
Frank
debt collectors can be the absolute worst, keep an eye on them!
Thursday, 31 October 2019 10:07
3207 Hits
1 Comment

6 Signs You Don't Need a Rewards Credit Card

credit-cards-sliced-in-half-pile
Rewards credit cards hard to resist. Credit card issuers are constantly improving their rewards programs, offering bigger signup bonuses and more opportunities to earn. Even if you're not on the market for a new credit card, you may change your mind after seeing what many of the latest credit cards have to offer. As tempting as it might be to sign up for a new rewards card, they're not for everyone. You don't pay your balance...
Continue reading
  2743 Hits
  1 Comment
Recent comment in this post
Frank
Thanks for the tips Latoya. I do think credit cards are useful only if you use them for the right reasons!
Friday, 20 September 2019 11:42
2743 Hits
1 Comment

What Things Can Make Your Credit Score Drop

woman-thinking-credit-score
Your credit score is an important number to keep up with, especially if you have a major loan coming up. For example, if you're planning to buy a house or car in the next few months, your credit score affects whether you're approved for a loan and the terms. Your credit score also impacts whether you have to pay a security deposit when you apply for utilities and similar services. Credit scores go up and down...
Continue reading
  2458 Hits
  2 Comments
Recent Comments
Wanderer
This writing covers well the factors of credit. Would add that there are many schools of thought on closing accounts ranging from ... Read More
Thursday, 15 August 2019 20:12
Frank
I agree that accounts for the most part should not be closed.
Wednesday, 28 August 2019 11:00
2458 Hits
2 Comments

How Long is Debt Valid?

woman-credit-card-bills
If you're dealing with multiple debts on your credit report or you're getting calls and letters from debt collectors, you may wonder if the debt is still valid. Debts generally don't "go away" just because they get older. However, older debts do reach a period where they should no longer affect you or your credit. There's a one time limit that a debt can be listed on your credit report and another for the amount of...
Continue reading
  2560 Hits
  2 Comments
Recent Comments
Wanderer
Learned a lot in this Blog! WOW! Reminds me of "tip toeing through the tulips" as you need to be ever so careful! Many legals to w... Read More
Saturday, 10 August 2019 07:00
Frank
I had no idea debt was valid for this long! Great information!!
Monday, 26 August 2019 13:37
2560 Hits
2 Comments