5 TIPS on Making Money Management Moves

Money management is something I introduce to my credit clients while they are working with us because we often see that money habits are never truly understood by most adults. Money problems can stem from a lot of things in some one's life and they can be hard to control when an income source has changed, gone away or is interrupted by some form of collection action. Making moves to get a clearer head means working on the thought process and framework in which we base our decisions. When I meet with clients, they are often spending a ton of money on things they can do without; things that can crush goals and dreams, and leave a mark of disaster. In today's article I want to highlight some money management moves that can you can activate this year in 2015. We need to often re-visit the basics so we can succeed.



1. Writing checks from your checking account is a management function. It is important to monitor when those checks are written, the money in the account the check is written against at that time.
This includes the use of debit cards as they are linked to a bank account often with check writing privileges and debit cards are essentially very much like an electronic check. NSF fees cost a fortune and can wreck a future money move.

2. Before you buy that Latte or coffee; ask yourself, could I use this very same money to pay down a debt I own? I see clients whom often cry broke and spend good money on goodies that can and would make a huge difference in their goals. $60 as month is a lot to throw away on coffee when you wan to get out of debt. Opportunities begin with small pots of cash like this and grow into a nice chunk of change that can be used for a money move. HINT, HINT...debt-free living.


3. It's hard to resist the itch to buy sometimes, between the ads on television and the shopping networks asking for money for something that you think you need, it takes a burning desire to achieve something to stay on point and not waiver. I believe that rewarding yourself is a great incentive to have the right reasons to spend on that major item you truly want and desire. Set goals, time lines and follow up for each achievement. Instead of spending all the money at once, set a goal, meet it and then using the money moves you made and saved from; reward yourself.

4. Get in the habit of saving! I know it's boring but when you see your accounts growing because you pay yourself by investing in yourself too; it's exhilarating. Doing this is easy as taking that same latte or coffee money and placing it in a interest bearing savings account; or if you can't cut cold turkey, at least deposit half of that spending money. Seeing money in that account, will motivate you to look for ways to get to your goals faster!

5. Maintain all commitments! One decision leads to another. That is in paying bills on time, maintaining your car, and keeping the proper insurance. Life is rough sometimes and the best way to stay on point to have the ability to do things on your terms, taking care of business is essential. Whatever you choose to do, stay on top of it. Making moves is all about management of your life and situations. Money is another factor in all of it, but it's how you do things that will tell the story ultimately.




Be wise, engaged and active in your circumstances. Time waits for nobody and you are in control always. It is the goal of this company to help people be proactive and seeking aggressively to be better in all areas of their lives. Money management is a tool for successful people who invest in themselves. Making moves is the reward of those that take money management seriously.

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The Critical Impact of Late Payments

Late payments are extremely damaging to an effort to build and establish a solid credit history with positive reported payments. In my line of work, I see often that late payments by potential clients are ignored and under-estimated. The critical impact is so intrusive and damaging, often potential clients simply are unable to grasp the concept that their habits and sometimes life situations can create a stigma while boxing them into payday loans and high interest rate borrowing of all kinds.

 To stop the behavior of overlooking due dates on obligations, some kind of reminder tool is needed. I often suggest to my clients and potential clients during consultations that identifying the triggers that create the problem they are wanting correct is incredibly important. Late payments tell a story a lot of time because they signal that a larger underlying problem exists. My clients come from all types of backgrounds and our conversations lead us from small business development challenges to identity theft. Many things can happen with a creditor relationship. I find that a lot of the time, loans and credit cards are abused because the money is there. The notion that late payments due in fact affect future borrowing is quite true and lenders are often unforgiving.

 Building credit history is directly dependent on how you make payments and how much you borrow in relation to your balance history. Every account has records of balance history. If you are notorious for spending up to the limit, that will have a negative impact with the lender. Lenders have a funny way of closing high balance accounts that appear to be failing.
Here are some very important points to remember:

• Banks and Lenders charge late fees! They often are high and interest accruing in some cases.
• If your credit was strong in the beginning and your interest rate was low, that can change and a higher interest rate can be applied.
• The Rule of 30-day lates is pretty true with almost every lender. Recently Discover has introduced new programs that forgive, however, most banks don't.
• Late payments cost in scores too - often anywhere from 45 - 90 points. 

If you discover that you have a late payment on a loan that has had otherwise, strong payment history, we have a service that has been extremely successful removing late payments. It's a game-changed because in many cases the account is destroyed and no longer helps your credit scores without this option.  Be careful, be mindful and take responsibility for your credit opportunities.

We hope you find this article helpful. Let us know.

Alexis - The Credit DIVA!

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