Bad Credit? No Credit? Yeah, It's a Problem.

Written by Tim Gorman

Many companies userepparttar slogan "Bad Credit? No Credit? No Problem!" The truth is that it is in fact a problem and there is no easy way to correct it. It takes a lot of time and effort to obtain credit when you do not have any and even longer to fix bad credit. The first step to solving these credit problems is to understand what your credit score means. In doing this, you will have a better idea of how to fix it.

Creditors use a point system to evaluate your credit. The more points you have,repparttar 146411 better your credit is. These are some typical scoring methods used by most creditors. * Age -Under 21= 0 points -24-64 = 2 points -65+ = 0 points

* Marital Status -Single = 0 points -Married = 1 point -Divorced = 0 points

* Number of Dependants -None = 0 points -1-3 = 1 point -Over 3 = 0 points

* Current Residence -Living with family or friends = 0 points -Living in an apartment = 1 point -Living in a home that you are buying = 3 points -Living in a home that is paid for = 4 points

* Previous Residence (Varies with creditors) -0-5 years = 0 points -5 or more = 1 point

* Employment History (Each creditor determines whetherrepparttar 146412 job is considered skilled, unskilled or professional) -Unskilled job = 1 point -Skilled job = 2 points -Professional job = 3 points

Preparing to Invest: How to get started

Written by Tim Gorman

Investments can be a source of great potential earnings. The two most common reasons that a person does not invest are either they do not haverepparttar money or they do not know how to get started. These are some ways to prepare for investing and some things to consider before investing.

Saving Money to Invest * Lower debt Everyone has debt and most will always have some debt, however if you have outstanding credit card debt, then this may not be a good time to invest. Credit card debt can be consuming andrepparttar 146410 best way to become financially stable and to create and atmosphere in which you are able to save money, you must pay off high interest rate credit cards. If you have more than two credit cards or your cards have reachedrepparttar 146411 maximum limit and you are making minimum payments then you should invest all extra money into paying off these debts before investing in other ways.

* Create Emergency Funds Everyone should have an emergency fund for unexpected debts or accidents. Financial advisors will recommend that you have at least three months of funds or 15% of annual income to fall back on inrepparttar 146412 event that you lose your job or incur unexpected expenses.

* Maximize Employment Benefits If your employer offers a 401 K plan, be sure that you are taking full advantage of this plan. Strive to put inrepparttar 146413 maximum amount allowed each month. You may not think of this as an "investment" however, 401 K and similar plans are some ofrepparttar 146414 best investments a person can make for their future.

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