Archive for December, 2009

Create a Budget Using The Envelope Method

If you are like most people, the thought of making a budget will send chills down your spine. The idea of calculators, excel spreadsheets, crunching numbers and constantly monitoring you checking account balance is enough to make people forget the whole issue altogether. Well, that is how so many people end up in bad debt situations – they simply avoided what can really be a simple task: budgeting using The Envelope Method.



The Benefits of Budgeting in Cash

Anyone who has opened a credit card and made a purchase they later regretted because they truly could not afford it will benefit from switching to paying for most of their expenses in cash. Even if you do not think you need a change, getting out of the habit of using a credit card is a great idea. Just think, every time you swipe that plastic for your lunch, you are essentially taking out a high interest loan just to buy a Big Mac! That is not the best use of credit. › Continue reading

Thursday, December 31st, 2009 Budgeting No Comments

Credit Score

What is a Credit Score?

Your credit score is a three-digit number based on your bill-paying history and debt profile. Lenders use this to determine the likelihood of certain credit behaviors, including whether you will pay on time and your credit score will have an important impact on the interest rate you will pay to borrow money. › Continue reading

Tuesday, December 29th, 2009 Credit No Comments