Finance Globe

In the world of finances, your credit report is one of the most important documents because it contains so much information about your financial habits. Your credit report is pulled from a database to which most, if not all, your creditors have reported data on your accounts. A business that pulls your credit report at a given time can tell: When you opened your first accountHow many accounts you’ve openedHow timely you’ve paid on those accountsHow...

Saving isn’t easy. It’s especially hard when you try to save what’s left over after you’ve paid all your other expenses. For one, you may not have much money left over after paying bills. And after spending all your money on life’s necessities, you may not feel motivated to put money in savings. You’d probably much rather enjoy what you have left. That’s why many financial experts recommend the “pay yourself first” method of saving money....

If you’ve incurred unexpected financial emergency, but don’t have an emergency fund or sufficient credit to bail you out, you might be tempted to take out a title loan. Be careful, these loans are one of the most predatory types of loans on the market, even worse than the infamous payday loans. A title loan is like a mix between a pawn and a payday loan. You can take out a loan using your vehicle as...

Preparing for a mortgage can be a stressful process. The lender wants to see that you have a solid credit history, a low amount of debt, a stable employment history, and enough income to afford the monthly payment on the mortgage you’re looking for. In the months leading up to a home purchase, you’ll be preparing for the mortgage application. It’s wise to focus on your whole financial picture, not just to qualify for a mortgage,...

Numerous businesses use debt collection services to help recoup the cost of unpaid debts. For example, if you cancel your cable service and don’t pay the last month’s bill, your ex-service provider may send you a few bills then send the unpaid bill to a collection agency. Because of debt collector’s bad reputation or perhaps the insignificance of the bill, many consumers often put off paying these collections. Besides personal responsibility, what need do you have...

The past several years have been rough for consumers and credit card issuers. Prior to the Credit CARD Act of 2009, credit card issuers were cutting credit limits without notice, raising interest rates to the default, and charging consumers interest on balances that had already been paid. Fortunately, things are starting to settle and, according to a study from J.D. Power and Associates, consumers are more satisfied with their credit cards than they were six years...

Identity thieves will use any means available to trick you into your giving up your personal information. You may be familiar with phishing scams where scammers email you seemingly legitimate messages from your bank or other business. The email includes frightening language, e.g. your account has been compromised, that bait you into going to a fake website where the scammers capture your password, bank account information, and other personal information. Then, they use whatever information they’ve...

Self-employment can be risky, especially from a financial standpoint. Managing your money is especially important given the potential ups and downs that come with being your own boss. Being smart with your money is critical to longevity in your career as an entrepreneur. Build a substantial safety net before taking the leap. If you’re still employed and know you want to move to self-employment in the future, start stashing some money away now. Save up as...

Every debt instrument has an interest rate, typically expressed as an annual percentage rate, or APR. The interest rate the annual amount you pay for borrowing $100. For example, if your APR is 5%, you’d pay $5 in interest annually for every $100 you borrow. The interest rate isn’t an arbitrary number that banks set up. In fact, you indirectly control the interest you pay when you borrow because your credit score is one of the...

Some people can expect to have a hard time getting approved for new credit cards and loans. You might be one of those people. You have a low credit score. Credit scores are designed to predict the likelihood that you’ll pay back a loan or credit card balance. Since your score is based on your past payment habits, banks trust it. If you have a low credit score, indicating that you haven’t always paid on time,...