Tag: Scores

A recent study conducted by Timothy Gubler and Lamar Pierce from the Olin Business School, Washington University in St. Louis shows that poor physical health is driven by the same psychological factors that determine whether or not you contribute to your retirement plan at work.  See this related article in the NY Times:

In the study, employees who contributed regularly to their 401(k) plan were not only more likely to take steps to improve their health but also had a 27 percent improvement in their blood scores. “Non-contributors continued to suffer health declines,” the paper said.

This study underscores the importance of having a mindset that is focused on planning for the future.

The same mentality that drives you to increase your 401K contributions also inspires you to enhance health measures such as weight and blood pressure. The participants who improved their health scores were incentivized to make changes to their physical health after receiving information and education from the study coordinators. Once informed, they took the appropriate action and their health improved.

Whereas some people are motivated to save and are more future-oriented, others apparently only act when they are forced to make a change. This is something I see frequently in my practice. The clients who are able to pull together their financial statements easily and quickly and who are more organized and committed, fare far better than those who are not as concerned about the future and do not have their financial life organized and top of mind. The key is to be intentional about making the changes you need to improve your future. Helping the client creating a clear vision of the future often helps motivate someone who up to that point had been procrastinating savings and unwilling to address key areas of his or her financial life that needed to be addressed.

A fee only financial planner can act as a personal fiscal fitness coach to provide motivation as well as a well defined action plan to ensure that steps are taken to improve the clients financial independence now and in the future.

Read Full Article

Do you want to take option of financial help in order to borrow of fast cash? Here, you can visit our financial loan website in order to get instant money. You can now visit our loan website and take the advantage of installment payday loans online so as to borrow instant money. As the name goes, these payday loans can be availed through simple online mode. Without wasting precious time consuming, you can take option of this loan. The mode of availing loan can be accessible via online mode without using paperwork.

There are few conditions in order to apply for these loans. Usually, these loans are granted to US borrowers who attained above 18 years of age. The borrowers should be having regular job. Their monthly income should be at least $1000 bucks. And he/she should have a valid bank account where online transaction can be done. To get applied for this loan, you should take help of online mode and fill up loan application form with your full details like- name, gender, age and bank account etc. Once you get the approval, the sanctioned loan amount is automatically transferred into your bank account on the same day.

An amount of instant money in the range of $100 to $1500 can be derived if you select installment payday loans online. You can use the loan amount for only few weeks. After you borrow of urgent cash in the choice of this loan, you can meet all kinds of unforeseen financial expenses. The loan amount is flexible to arrange pending bills which include- home rentals, home renovation, paying off school fees for your children, and educational purposes for your children. Therefore, this credit support is quite helpful to fight many financial expenses.

Furthermore, this small credit solution is quite helpful for bad credit people who are in need of fast cash. Without showing the past credit scores, lending companies have granted this loan to everyone. For applying this loan, you should fill loan application form with your full details like- name, gender, age and bank account etc. Once you get the instant loan approval, the sanctioned loan amount is granted to you on the same day.

On the other hand, the loan amount can be availed without pledging any kind of collateral as security against installment payday loans online. This loan is supposed to be unsecured loan designed to help many borrowers.

Read Full Article

Sometimes you don’t have sufficient fund left in your pocket and you can’t defer your vital needs for days. For taking care of your needs on time you need funds in a very least span of time but you are much worried since you don’t have any proof related to job as well as income to submit it against the lender. Keep tranquility! Right now you can apply for unsecured loans for unemplo[censored] without fretting about jobless status. As the title suggests, these loans are unsecured in nature and so, you don’t need to be anxious about pledging collateral against the loans. This is because you are at leisure to raise the utmost benefits from these loans with ease.

Fund that you acquire through unsecured loans for unemplo[censored] can be ranging from £1,000 to £25,000 for the repayment period of 6 months to 10 years. Good thing is that you have the chance of deriving the best rate of interest in spite of being high interest rate. Since, you can make a proper online research in cut-throat financial market and you have to compare among various lenders and then opt for one of them who can offer you an affordable financial deal that will suit your pocket money and needs.

Interesting thing for you through unsecured loans for unemplo[censored] is that you have the complete freedom to make use of the borrowed funds for various personal or temporary needs. You can spend the fund in managing the marriage expenses, planning for exotic vacation, supporting higher study, consolidating debts, starting a new venture and so on.

Individuals who are disturbed a lot owing to both conditions unemployment and bad credit history, still they don’t need to worry about it since unsecured loans for unemplo[censored] are specially planned for jobless people to help them out of any financial hurdles in spite of being their bad credit history. Therefore, bad credit people having poor credit scores like defaults, arrears, foreclosure, skipping of installments, bankruptcy, late payments, missed payments etc are also accepted for these loans.

In order to derive unsecured loans for unemplo[censored] in a least span of time you can go for the online mode that is quite free from faxing do[censored] ents, extensive paperwork etc. You are required to do is to fulfill a simple online application form with the required details and submit it on the webpage of the website. After confirmation of your details, the fund is transferred directly into your bank account on same day of applying.

Read Full Article

Smart Credit Management

Financial advice and credit advice are not always the same. For example, transferring and consolidating high-interest credit card debt to a 0% APR credit card might make financial sense, but does it make sense for your credit?

Rarely is anything ever taught about credit, and credit is somewhat counter-intuitive. Have you ever heard someone say that you do not have enough credit to qualify for a loan? Huh? You mean you have to have a debt to get more debt?

Establishing credit, and thus, a credit score enables you to qualify for a mortgage, loan, credit card and even security clearance for a job. The information below will help demystify your credit score and provide valuable tips for improving your credit and avoiding pitfalls.

What is a credit score? A credit score is a measurement for lenders to determine how much risk they take on to lend you money. Your credit score is generated from a statistical analysis that assesses “creditworthiness,” and FICO is the standard used. FICO looks at a mix of secured and unsecured credit, your payment history, and has a scale of 300 to 850. This credit score does not care about income or size of debt payments, but it does care about the percentage of debt in use and that you make your payments on time.

Credit scores also have no memory. Your credit score is pulled as of a point in time based on all the information available from the three credit bureaus. The score can be different every time it is pulled, so if you had a great score five years ago, it means nothing for a score pulled today. Credit scores are more heavily weighted on recent items.

You can get a gauge of your credit score for free once every year at annualcreditreport.com, but this report will not contain FICO score. To get your FICO score, you’ll need to have to pay a credit monitoring service, though many do offer brief free trial periods. A number of services now offer free FICO score estimates, but remember these Fake-o-Scores are only estimates and may differ from the scores provided to lenders. Self-pulled scores are considered soft inquiries and will not hurt your credit score. Hard inquiries, those made by others who are trying to approve you for credit, can impact your score if too many happen within a 12-month period. The good news is that multiple mortgage and auto loan inquiries are rolled together and will not adversely impact your score if they are all done within 30 days of the initial inquiry for that loan. If the inquiries are spread out over more than 30 days, the hard inquiries can reduce your credit score up to 50 points, which can mean real money in today’s market.

The Most Common Mistakes?

1. Joint credit cards. The biggest mistake couples make is to have all credit cards (revolving credit) and unsecured credit jointly named. There is no reason to have both of your names on your credit cards. If something bad happens to one of you, both of your credit scores are negatively impacted.

2. Closing old credit cards. Debt ratios and account seasoning (the age of a given account) are important components of your credit score: approximately 45%. When you close old credit card accounts, your debt usage ratios go up, and you shorten the average age of your credit file, which will negatively impact your score.

What should you do?

Keep separate credit cards. You can pay them off from a joint account.

Rotate your credit cards. Keep your cards active by rotating your use of cards. The amount you charge does not matter; charge a coffee at Starbucks. In a bad economy, lending standards tighten, and credit lines are reduced or closed if not active. Even if they are not closed, credit card companies may eventually stop reporting inactive accounts to the credit bureaus. Again, this loss of payment history will reduce the average age of your available credit and hurt your credit score.

Pay off your credit card each month and on time. For assessing credit, your debt ratio is Dollars in Use/Credit Available. You want to keep your debt ratio as low as possible.

Read Full Article