How to Save Money During Tough Times - Especially Making Personal Changes for the Better!

In this new year unfolding and recovering from an uncertain economy, many people are looking for ways to stretch their dollars and make ends meet. The good news is there are lots of ways to save money and stay on top of your financial situation. Here are some effective methods for using your money wisely and generating cash for your savings account.


Save money on your food and grocery bill. This can be done in a multitude of ways. First, limit eating out to no more than once a month. This includes lunches, so get creative and brown bag it to save money every work day. Make eating out a treat and not something you rely on regularly to stretch your food dollars to the max. Next, plan your weekly menus ahead of time and always shop from a pre-made list. Clip coupons from magazines and store flyers. Make your list while considering what is on sale. All the major stores have websites that will show you exactly what is on sale currently, so begin your list by checking out those sale items. Using a list will help you be more efficient with buying  items that can be used together, and you will be less tempted to impulse shop if you stick to your list.

Shop around for a less expensive television entertainment package. A lot of money can be saved just by calling your provider and asking about discounts or deals. Often you can eliminate channels that you don't watch often and walk a way with big savings. If your current company doesn't have any discounts, call around and check out the competition. The same thing can be done with your internet service or phone service. So, shop around and you can save big money on entertainment, internet or phone access.

Contribute something to your savings account every payday. Even a few dollars each pay period will add up over time and can make a big difference if an emergency comes up. Without a savings fund, the only way to get through emergencies is to take on debt and we all know how expensive that can be. So, if you are not already growing your savings account now, get started so you have a cushion for unexpected expenses.

Consider getting a second job. A part-time second job can generate a cash influx that makes the difference between getting by and getting ahead. Better yet, think about starting a side business. You may have a hobby or interest that can be made into a profitable business. Learning that your main job isn't the only way to make money will open your horizons and get you thinking about new ways of bringing in money.

Have a yard sale to get rid of unneeded items around your house and make some extra cash. Sell suitable items on Ebay or Craigslist. This is a great way to clean out your closets and storage areas. You may be surprised at what people will pay for your things, but give it a try. Make sure to advertise your sale in free newspapers or online forums, Put a sticker price on every item as people don't always like to barter. Be clear about your prices but also be willing to haggle with interested parties. You want to sell as much as possible so don't be too picky about your selling prices. Your earnings can be added to your savings account making an even bigger safety net for the uncertain future.

So, there you have it. With the tips above you can save money during the hardest economic times. These ideas are tried and true methods for cutting your spending and generating cash for your savings account without imposing painful budgetary restrictions. Start living within your means and dedicate yourself to creating a sizable savings account and you will be well prepared for whatever the future holds. Now that 2015 is literally hours away, you can grab a hold of your direction and begin to create the life you deserve finally!!

Happy New YEAR!!

Read more »

10 TIME-TESTED TIPS FOR BOOSTING YOUR CREDIT TODAY

If your credit rating is faltering or has hit rock bottom this year, there are ways that you can boost your credit scores.  It is important to take an honest look at your immediate circumstances and be real with yourself to move forward. 2015 is right around the corner and if you struggled all year or even over the last few years, these time-tested tips can give you a sense of order to move forward.

1.  Obtain all three copies of your credit report.

There are three main credit reporting agencies and not all companies will report to all three of them.  It is vital that you obtain copies of your credit report from all three agencies.  This way, if you have a problem on one report it may not necessarily show up on the other reports and you can still ward off any mistakes or issues.  Don't just get a report from one of the major agencies, get all of them.

2.  Check your credit report often.

Experts advise checking your credit report at least once a year.  Some people, however, obtain their reports as often as every quarter.  It really depends on the activity and other factors as to how often you should check.  The common consumer who only has a few lines of credit can probably get away with checking less often.  It is important, though, to check your credit report so that you can ward off any problems, issues or even unauthorized activity.

3.  Delete your negative credit if possible.

If you have any negative credit such as delinquent accounts or slow payment history you need to work to bring it all current.  Credit repair is not as easy as it used to be, but you can pay on delinquent accounts to get them to a current status.  You should also begin to make regular, timely payments on a payment history that is slow or lagging.  If you can pay your delinquent accounts all at one time to bet them to a current status, but if that is not a possibility, you can pay on the accounts in increments and pay it a little at a time until current.

4.  Don’t close old accounts.

While you may be tempted to close old accounts, resist that temptation.  Keeping old accounts open and current will show as current accounts on your report.  This will show that you have active, good credit and will help to boost your rating.  The longer that you have revolving credit accounts with no negative reports, the better it makes your credit appear.  This translates to a better overall credit score.  Many credit experts advise that you keep a balance a balance or 30 percent of your credit limit.

5.  Pay your bills on time - always.

You may think that this tip is rather obvious, but it still stands to be repeated.  Your credit score can begin to decline even if you are only 30 days late in payment.  Even if you pay every month, if you pay late every month, you are still damaging your credit.  Your best bet is to make your payments on time every single month.

6.  Use credit to pay for credit.

This is an old, tried and true technique for credit building.  Get a secured credit card for "x" amount of dollars.  Once you receive your card, get a cash advance of 70 percent of your credit limit.  Do this with a second and third cards as well, using the cash advance from the previous card.  Open a checking account with the cash advance on the third card.  Use this checking account solely for making payments on your three cards.  Pay on time each month and your credit score will increase.  It may drop initially because of the three accounts taken out so quickly in succession, but within 4 months it will have rebounded and your score will be greater.

7.  Maintain different types of credit.

Diversify your credit with revolving accounts, unsecured loans and secured loans.  This shows that you are able to manage several different types of credit at once.  Get a vehicle, mortgage or personal loan so that you can have an installment loan on your credit report and charge cards give you the revolving credit.  This shows that you can handle short term credit, long term credit, fixed payments and variable monthly payments.

8.  Don't file for bankruptcy.

While bankruptcy may seem like an easy way to get out of debt, resist the temptation.  Don't file for bankruptcy or foreclosure; they remain on your credit report for 10 years and will cause your credit score to plummet.  However, the older a bankruptcy becomes (as long as it is combined with a credit history that is rebuilt), the less impact it will have on your credit score.

9.  Don't open new lines of credit.

Do not open new lines of credit unless you absolutely must.  Every time that you apply for credit there is an inquiry that is placed on your report.  This often causes your credit score to drop slightly.  This is more important when you are just starting out or when you are rebuilding credit because you either show no payment history or a negative payment history.  That, combined with a lowered score can show you as a credit risks to creditors.

10. Stay on top of all credit issues.

As soon as you realize that there is a problem with your credit, you need to take care of it as soon as possible.  When you are staying on top of your credit issues you can ward off problems that will destroy your credit score.  This strategy will also help you ward off fraudulent activity that may occur on your account due to thieves and identity theft.

When you use these tips to boost your credit rating you will see great results.  Your credit rating will improve with the structure you establish and you will have better access to credit if you never need it for emergencies. Emergencies can come at any time as we all know and your ability to some form of credit can truly help in a time of need.

Merry Christmas and Happy Holidays!

Read more »

SMART HOLIDAY CREDIT TIP #2

I hope your Christmas and Holiday activities are off to a wonderful start. 2014 is about to gone for good in a few more weeks and it's shocking how fast it went! In today's post I want to highlight a great way to prevent credit problems while managing your spending this season. It's widely known that the average consumer will rack up at least $1,000 in additional debt this season. People just go crazy over special incentives, door busters, and mail-in offers. One amazing way to stop over-spending and pushing those credit cards to the limit is shop the CLEARANCE items exclusively!

Credit problems always escalate this time of year. Banks see more NSF's because people over-draft their accounts buying all over the place, more checks bounce and debit cards are pushed beyond their daily limits because a DEAL makes people crazy! Today's SMART HOLIDAY CREDIT TIP #2 is shop closeouts and clearance on your favorite websites and during in-store visits If you are watching your spending even a little bit, these areas can save you allot of money and even if you push your giving to include more people, you just may stop yourself from wrecking your finances.

While the deals are appealing I want to include a BONUS recommendation; if you do in fact spend beyond your credit cards approved limit be sure to pay that balance overage by the next billing cycle. The reason is because your lender just might close that account to ensure no additional balances can rack up they feel they may have to collect on.

Keep these points in mind to close your year right:

1) Any credit cards you own right now could be in jeopardy if you have missed payments this year.

2) If you have a habit of not paying before their 10 day grace period ends, expect a late fee for that payment not posting on time to your account.

3) I some instances late fees accrue and can began to hurt your credit scores because they push your credit balances out of whack. BE MINDFUL!

Just some added value for your Holiday season. We want to help in anyway we can!

We hope you enjoy this post today. Please share it and comment if you enjoyed it!

Read more »

UNDERSTANDING CREDIT SCORES AND HOW THEY WORK

When people ask me do we offer credit repair, I am often surprised that they ask. I am often like, "Are they serious?" if the name of the business, doesn't get that across, I do not know what to say. In today's post, I want to capture what really goes on with the elusive credit scores and how they work when applying for credit. This is directly related to why this company goes out of its way to educate people on all levels about how to deal with the credit problems. Credit scores are generated essentially through a myriad of systems called "algorithms". That's a fancy term that sets a "standard" in which any of the three main scores are calculated based on any given lender's capacity or interest to evaluate someones ability to repay a debt. The scale most often associated with a certain score and value looks like this:

People truly feel like they are climbing some elusive ladder of privilege or status to get to a 700 credit score. In some cases it may very well seem that way when you look at the interest rates someone can pay for the use of a credit card or installment payment terms to buy products and services. So how do they REALLY WORK? Well, first it's important to understand that not every scoring system uses the same algorithm. What that means is, Bank of America may have a totally different way they review your credit status than say, Citibank. Both banks indeed offer credit cards, auto loans, and even lines of credit. What each bank may feel is top tier credit scores for low interest rate lending may in fact vary. 

Let's look closer: You checked your credit score online first because you have been following my advice and know that you should not apply anywhere without checking your scores first. So you review your credit scores by setting up an online credit monitoring service and discover your credit scores are in the high 600's.  Specifically, you have an Experian score of 678, a Equifax score of 650 and Transunion reports a score of 693. Now, you are armed with some way of having an intelligent conversation about your status. So next you apply with Bank of America in person for a credit card you feel you should have no problem being approved for. You sit while your credit is bring reviewed by the bank representative and they share you are not approved for that particular card. You wonder why? That representative may offer another option since you are in the bank. It has very different terms and the interest rate is not what you had in mind, but you take it because you do not want to be declined completely. What just happened? You fell in what is called a "Tier system" and review.

Your not a bad credit client, but the score was not high enough for the card you actually wanted.

Every lender has some kind of Tier system and often those really hot offers with zero percent interest rates for 6 months and 5% rebates and vacation points, etc; are designed to capture the credit scores of people who are considered "Top and Elite'. How can you become the Top tier and Elite of approved offers and opportunities, well it's not simple and not easy either; but it is doable and actionable if you are not hell bent of running up your credit card balances every month.

Here are 5 WAYS TO GET TO TOP TIER STATUS:

1) Always pay your credit cards, loans before the date payment is due. 

2) Pay more than the minimum! If you are due to pay $15, pay $30.

3) Never, never, ever spend more than the approved credit line!

4) You do not have to spend on every card you own. Learn to manage your cash!

5) Do not apply for credit cards just because you get an offer. Value your credit information and be careful with the terms and conditions of your credit cards and loans. Spend time developing a relationship with those lenders. 

Using the information shared here, credit scores have a new significance aside from just getting a high score. It takes time, structure and clarity in how to use credit in which your scores will increase and those prime offers will be offered to you! I hope you've enjoyed this post and please let us know how we can help you!

Read more »

SMART HOLIDAY CREDIT TIP #1

The Holiday's are here ALREADY and how fast they came this year! As I finalize all of the business going on with our service house, many things have come to our attention throughout the year as we service clients working on their credit files. We wanted to provide some of those insights in this series for the 2014 Holiday and Christmas season. So much goes on in the world, we get blind-sighted by poor disclosures, popular advertising and third-party data collection activities, that we often do not realize how are very personal information is being handled and transmitted. Many clients we help contact us because at some point they were duped by an offer they thought was a good deal and when we activated an account  to pursue an offer of some kind, they are then captured into some unknown or unclear disclosure relating to their action. It then becomes an issue of Terms and Conditions in which that "offer" was presented. It could look something like this image here:




This is an every increasing challenge for many people because they may not recognize, some kind of expectation is met with that "offer" in which they advertiser or even a BIG BOX STORE wants to engage with you to get your business. Our tip today is: Make sure that before you click or press submit online to an "offer" that you have read the terms and condition of that govern that website for use. Be careful who and where you share your personal details. If there is a WEB SUPPORT, click on the icon to ask for clarification to ensure are in agreement with the actions of the "offer" and whatever will come from that later by way of an email or some kind of advertising.  Often credit problems start with opportunities that sound good at first and really wound up costing you a whole money and headache.

We hope you find this post helpful! Be Safe! 

Read more »

5 THINGS YOU NEED TO KNOW TO MOVE FORWARD WITH CREDIT RESTORATION

Sometimes credit restoration and repair can be a painful process. We know all too well how changes in the way you spend and income disparities can throw everything in your life in a flux. It's important to overcome the fear of failure in any of this because if you don't get a handle on how you do things your credit will forever suffer.  

Here are five things you need to know to move forward:

1)    Identify your motive to make the necessary financial changes real. There has to be something that matters to you enough to commitment to YOURSELF. I used to love to shop, and at one point Marshall's was my favorite store. I could not ever dry by a Marshall's in any part of the country and not stop in. I was a true SHOPAHOLIC.. What finally broke me of this habit was the burning desire to own my own business and invest in real estate.

2)    Sit down and document your true budget for your household. Everyone should do this because if you do not take an account of what is truly happening with your finances, you can never get an edge in your future as opportunities present themselves. Money has a funny way of growing or shrinking when the mindset of the person handling it is incapable of discerning their situation. I am saying - you must know everything to move   forward, but you have to be honest so a blessing can develop on your behalf because you were honest and willing to get organized.

3)    Locate a true friend and confidant to help you keep your commitment. Getting out of a jam is a lot like losing weight, it helps to have some encouragement from someone you admire and respect. Maybe there is a friend who just seems to always save a every month no matter what, you want to capture some of that fire and determination. 

4)    Gather all the knowledge you can muster to make sound decisions as you take on this new direction. Reading is amazing! Learn from the many available resources in the marketplace. 

5)    Give yourself time to adjust to this new way of thinking.

Spend at least one day a week reflecting where your headed to keep pace with your perspective each day. Sometimes our lives move so fast, we can barely keep up with ourselves. Making time to just gather your thoughts will go a long way in making some sound decisions.

Want to learn more about us - Grab our free REPORT here: http://www.getgr8tcreditvip.com/

Read more »