Finance Globe

Out of all the bills you pay every month, only a few of them are routinely reported to the credit bureaus. For example, credit cards and loan payments are almost always updated on your credit report each month. On the other hand, payments on your utility bills, cell phone, or insurance generally won’t be listed on your credit report. Pay on time or pay a few days late, the credit bureaus won’t know (you’ll probably incur...

Whether it’s your first job or just a new job, the first paycheck is critical. There’s often a lag between the day you start and the day you get your first check, so you may be anxious by the time the check comes. But, make sure you have a sound plan for how you’re going to spend that check and every check that comes after it. Don’t start spending before you actually get the first paycheck....

The average amount of credit card debt has declined over the past several months, but many families are still struggling to pay basic necessities. Based on a recent survey, 40% of low- and middle-income families have used credit cards to pay for basic living expenses this past year because they didn’t have enough money on hand to pay for those expenses. Basic living expenses include things like mortgage payment, utilities, groceries, and insurance. The statistic come...

The two most important pieces of information on the credit card statement are the minimum payment amount and the payment due date. We have to know this so we can make payment and avoid the consequences of a late payment. But, your credit card billing statement has a lot of other details that are equally important. To confirm your transactions Your credit card statement will include a list of all the transactions made to your account...

The mortgage crisis has left many homeowners in the difficult position of having a mortgage that’s worth more than the home it’s secured by. Being upside-down in a mortgage is an undesirable situation so much that many homeowners have decided to walk away rather than continuing to pay and receive no equity in return. Strategic default is the term used to describe a situation where homeowners voluntarily walk away from their mortgage, especially one they can...

One of the benefits of having good credit is that other credit card issuers want your business. If you haven’t opted-out of credit card offers, there’s a good chance you receive several balance transfer offers each month. As enticing as these offers are, make sure you evaluate whether taking the offer is a good idea. Take Advantage of a Better Interest Rate The best reason to take advantage of a balance transfer is to take advantage...

Sales of existing homes rose in April in all regions of the U.S. and were 10% above the level from a year ago, the National Association of Realtors reported on Tuesday. Home prices also continued to rise, and the national median home price of $177,400 was 10.1% higher than it was a year ago.Lawrence Yun, NAR chief economist, said the housing recovery is underway. “It is no longer just the investors who are taking advantage of...

Marriage affects many aspects of your life, but credit isn't necessarily one of them. Marriage itself does not affect your credit. Contrary to a common myth, your credit report doesn’t merge with your spouse’s once you get married. Nor does your marital status affect your credit rating. Single, married, separated, or divorced, your credit rating is based strictly on your credit history. So, the mere act of saying “I do” and signing a marriage license won’t...

Most credit cards give you the ability to withdraw cash from an ATM the same way you would with a check card, except the money detracts from your credit line instead of your bank account. When you’re in a pinch and you must have cash, a cash advance on your credit card may seem like the perfect solution. But, be careful because it’s an expensive one. When you use your credit card for a cash advance,...

It’s planting time across many parts of the country, and you may be looking at your yard with big plans for lush gardens and pretty flowers. But don’t let your annual landscaping bill get the best of you, save a few bucks here and there with these cost-cutting tips. Buy smaller plants Starting with small plants saves money - and you’ll also have a smaller hole to dig so planting them will be easier, too. Annuals...