Finance Roadmap » Credit

Managing your finances in a credit crisis

David Allen — Thu, 12 Feb 2009 05:49:00 +0000

Getting a grip on your finances is hard enough, but with a full blown credit crisis creating all sorts of problems for many people there is an extra pressure on people to get a grip on their finances in order to be ready should the worst happen.

The problem for ordinary people is that they have little influence in their future, as this is in the hands of their employers, but what they can do is work on their finances and get them into some short of order.

This can be done by following the tips below:

Make it a habit to check your bank account on a regular basis
Try to reduce your daily expenses as much as you can
Credit cards increase debts
Avoid borrowing money from anyone
Continue to pay the premiums
You should look for extra sources of income other than your ongoing one

Source [Personal Finance Coach]

Fixing your finances

David Allen — Wed, 14 Jan 2009 06:48:43 +0000

These days getting on top the personal finances should be a priority for most as by doing this it can be a way of getting ready for a new future where finance does not control you, but rather the other way around.

If ever there was a better time to get on top of the finances this is it and there is no doubt that there are some lessons to be learned from what has happened in the past, which has to be good thing for everyone’s point of view.

Here is what you can do:

Imagine how good life will be once the debt is paid.
Do a budget.
Live within your means.
Cut up your credit cards. (Well, maybe keep 1 for emergencies, if you have to.)
Find bargains – have fun.
Set aside a savings amount.
Do not compare yourself with others.

Source [Vision Lifestyle]

Fixing your credit rating

David Allen — Thu, 08 Jan 2009 07:18:43 +0000

Your credit rating can affect the way that you conduct your life for a long time, this is especially important these days with the credit and finance industry being in such a state right now.

The first thing to do is get a copy of your credit report, there are three main agencies so it is probably better to get it from all three, just to make sure that you have the full story.

Normally most the data contained in these reports you would be aware of, but occasionally there are mistakes and it is these that need to be sorted out and you are the only person who can do it.

The first step is to get in touch with agency and explain the situation, this should be enough to convince them to update their records, but if this is not done then there are other avenues that you can take.

Source [Huntsville PR]

Surviving the credit crunch

David Allen — Tue, 16 Dec 2008 07:06:45 +0000

For some people it may already be too late to avoid the current financial crisis, but that does not mean that it is the end. In fact, in many cases this is just the beginning of getting on top of all things financial.

The world of personal finance is something that has to be worked on and this work is ongoing.

However, it does not have to be a full time job if everyone follows where their money is going and what they are doing with it.

There are some rules that can be followed that will bring personal finances under control these are below:

Keeping accurate records of all Money Transactions
Do not become addicted to the Keeping-up-with-the-Joneses Syndrome
Avoid living Beyond your Means
Are you considering getting divorced?
It may be Christmas, but try to avoid Impulse Shopping
Use Credit Cards sensibly

Source [Squidoo]