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Reporting Death of a Loved One

4 Ways To Not Break The Bank This Mothers Day

With Mother’s Day around the corner, it is time to start gathering some ideas on how we can really make the day special! It is no secret that everything is growing more expensive, and it is becoming increasingly difficulty to not break the bank when it comes to gift, but luckily Credit Law Center has you covered! 

1.) Thrifty Flowers 

One of the most traditional ways to tell someone you love them is to send them beautiful, vibrant flowers. Although this is a wonderful gesture, it can really add up once you consider everything that goes with a wonderful bouquet. 

A terrific way to help cut back on the cost is to bring your own vase or pick out a beautiful vase at a craft store. Floral shops can also become quite expensive as the bouquet is normally priced per flower, consider visiting your local grocery store and make your own small bouquet for as little as $10-$15. 

If you do decide you would like to go with a florist, be sure to ask when the flowers were delivered to make sure you get the freshest pick! 

2.) Creative Piece 

Hobby and craft stores are amazing places to find a Mother’s Day gift! You could find a beautiful piece of art or pick up a fun craft for you and your mother to complete together! Places like Potters Haven offer event days where parties can come in, have a glass of wine and paint together! Add that with a quick lunch and you have the better part of the day set aside to really make your mother feel special! 

3.) Good Eats 

After working in restaurants for several years, it is no question that Mother’s Day is one of the busiest days out of the year. Hour long waits and added stress is not something you or your mother need on her special day. Instead, why not fire up the grill and make a wonderful meal! In the time it would take to get into a restaurant, get seated and get your meal, you could be relaxing at home with cheaper drinks and better service! 

When I was younger, we would have a big family BBQ where everyone would stop at our Aunt Cindy’s house and cook a amazing spread for everyone. Grab the radio, set up the yard game and sip on an ice-cold drink with some of the most important people in your life and have fun! 

4.) Acts of Service 

Sometimes, something as simple as help around the house can be a great gift! Finishing the laundry, completing some house chores, or just helping by going above and beyond during the day is a lovely display of appreciation! Even if it isn’t flashy, acts of service are still quite a viable gift! 

From the Credit Law Center family  to all those special ladies on Mother’s Day, we appreciate all you do!

Credit Law Center Christmas Shopping

12 Credit Tips for the 12 Days of Christmas

With the holidays quickly approaching and the festivities in full swing, your budget is going to take a substantial hit. Whether it be a Christmas Vacation, holiday parties or gifts for your loved ones, the end of the year normally brings financial strain for most. In today’s blog, we are going to attempt to take away some of the stress of overspending with some helpful tips and tricks you can use to make life easier during the holidays.

 

Tip #1- Budget

I get it, with the current state of the world post Pandemic and the current state of the economy, budgeting is much easier said than done. Planning is not a sure-fire way to ensure that your finances will be healthy at the end of the year, but it can decipher how you will enter the new year. My fiancé loves to use this budget template when she wants to reevaluate finances and spending habits.

 

Tip #2- Make a List, Check it Twice

Appliances go out, things come up and surprise purchases appear. Along with budgeting, keeping a list with allocated emergency or “surprise” funds is always handy to have readily available when the unexpected happens.

 

Tip#3- Compare Prices

As the self-proclaimed “Ebay god”, price comparing is something I personally love. It is like a scavenger hunt for the best deal and occasionally, you can find amazing deals. Outside of online shopping, depending on the merchants inventory, small deals can really add up over time!

 

Tip #4- Choose Vendors Carefully

This one goes hand in hand with price comparison and I experienced this situation the other day. The Fiancé picked up a curtain rod from an “At Home” type store for a fairly high price. That evening I went to a supermarket and found the exact same rod for almost 15 dollars cheaper! Save yourself the hassle and do some prior research about your purchase. Be confident you are getting the best deal… and do not pick up a shower rod for $40!

 

Tip #5- Cash is King

It is exceptionally easy to over extend yourself financially during the holidays, but make sure your generosity does not put you in the red. To avoid overspending and high interest rates, try to purchase your gifts with cash. This also keeps you from spiraling into what I call “The Holiday Pit” from using your credit card for each purchase. This is when a consumer is unable to keep up with the interest rates they experience from their holiday purchases.

 

Tip #6- Save That Money

When I was younger, I would always freak out when Christmas time came because I never had finances to spare. With 12 months between the holidays, I learned to save a little bit every paycheck to help around the holidays. I went to my bank and added a “Christmas Funds” savings account and would toss $10 in ever pay check. Though it isn’t a huge amount, this left me with $240 to use for my holiday purchases.

 

Tip #7- Search for Sales

This tip ties into tip #3 closely. No matter if you shop online or venture out to a brick-and-mortar store, everywhere has sales going on at some point. Cyber Monday deals, Black Friday, Labor Day and Summer Sales are just a few ways you can find some amazing deals for the holidays…or for yourself!

 

Tip #8- Say No to “Buy Now, Pay Later”

During the holiday season, many retailers try to offer ways to make a purchase now and pay for it later. Be sure to be extremely cautious with these offers and read the fine print to make sure you are not penalized when making payments early or late. Also, keep an eye out for the interest rates associated with the tactic, it could end up costing you more than the product was originally listed for!

 

Tip #9- Track What You Spend

This one comes from the Fiancé (as she is extremely strict when it comes to list creation and management). If you need to use your credit card for purchases, make a list of your budget and deduct the purchase from the amount. This way, you can track how close you are to your maximum budged and you can make sure you are not overextending.

 

Tip #10- Know What You Owe

Piggy backing off tip number 9, keeping track and documenting what you owe can save you the headache of interest rates and overspending. Keep your receipts or keep a log of your purchases so that you can refer to them when budgeting and spending. Knowing what you owe before the bill comes in will help keep you out of debt and set you on track to eliminate any debt you may have.

 

Tip #11- Budgeting for the New Year

Assess how much disposable cash you have each month to pay down credit card balances and use the remainder toward holiday debt. Paying more than the minimum balance will keep you from having to combat interest rates and going upside-down on your purchases.

 

Tip #12- Do Not Overextend

The final tip is harder than it sounds but happens to many of us. Do not let your generosity be your downfall and don’t go overboard. With holiday deals and new ways to purchase, ask yourself, “does Grandma really need the 6 speed, Bluetooth enabled, Alexa compatible blender so she can smash protein shakes before leg day at the gym?” The answer is no, a regular blender will do the same thing and she will still be able to dominate at the gym. All jokes aside, flashy does not mean better…but it does mean more expensive!

For more information about your credit score, please give Credit Law Center a call at 1-800-994-3070.

A note from the author:The opinions you read here come from our editorial team. Our content is accurate to the best of our knowledge when we initially post it.

This entry was posted in Credit Cards and tagged . Bookmark the permalink. Follow any comments here with the RSS feed for this post. Both comments and trackbacks are currently closed. Edit
Reporting Death of a Loved One

4 Ways To Not Break The Bank This Mothers Day

With Mother’s Day around the corner, it is time to start gathering some ideas on how we can really make the day special! It is no secret that everything is growing more expensive, and it is becoming increasingly difficulty to not break the bank when it comes to gift, but luckily Credit Law Center has you covered! 

1.) Thrifty Flowers 

One of the most traditional ways to tell someone you love them is to send them beautiful, vibrant flowers. Although this is a wonderful gesture, it can really add up once you consider everything that goes with a wonderful bouquet. 

A terrific way to help cut back on the cost is to bring your own vase or pick out a beautiful vase at a craft store. Floral shops can also become quite expensive as the bouquet is normally priced per flower, consider visiting your local grocery store and make your own small bouquet for as little as $10-$15. 

If you do decide you would like to go with a florist, be sure to ask when the flowers were delivered to make sure you get the freshest pick! 

2.) Creative Piece 

Hobby and craft stores are amazing places to find a Mother’s Day gift! You could find a beautiful piece of art or pick up a fun craft for you and your mother to complete together! Places like Potters Haven offer event days where parties can come in, have a glass of wine and paint together! Add that with a quick lunch and you have the better part of the day set aside to really make your mother feel special! 

3.) Good Eats 

After working in restaurants for several years, it is no question that Mother’s Day is one of the busiest days out of the year. Hour long waits and added stress is not something you or your mother need on her special day. Instead, why not fire up the grill and make a wonderful meal! In the time it would take to get into a restaurant, get seated and get your meal, you could be relaxing at home with cheaper drinks and better service! 

When I was younger, we would have a big family BBQ where everyone would stop at our Aunt Cindy’s house and cook a amazing spread for everyone. Grab the radio, set up the yard game and sip on an ice-cold drink with some of the most important people in your life and have fun! 

4.) Acts of Service 

Sometimes, something as simple as help around the house can be a great gift! Finishing the laundry, completing some house chores, or just helping by going above and beyond during the day is a lovely display of appreciation! Even if it isn’t flashy, acts of service are still quite a viable gift! 

From the Credit Law Center family  to all those special ladies on Mother’s Day, we appreciate all you do!

high risk borrower

Am I A High Risk Borrower?│I Want To Buy, Now!

I Want To Buy, Now!

Are you preparing to purchase a home in the next few months? It seems that when we are not looking, a home just pops up and finds us, at a time when we were not even contemplating making a move. Then, boom!  The rush is on to beat the clock and make an offer before the next person does. With how quick homes are flying off the market, the best thing to do is be as prepared as possible right now, in the event you do find what you are looking for.

Many borrowers hoping to apply for a home loan are unsure of what a lender might need because it is either their first time, or the process was so long ago. Let’s go more in depth here, about what you will need to get to the point that you are ready to purchase!

Here are 4 things you’ll want to start thinking about before you meet with your lender:

  1. Locating your W2, pay stubs and documents to provide proof of income
  2. Decide if someone will be on the loan with you
  3. How much money you may have/can save for a down payment
  4. Your credit scores
This list will start to prepare you for what your lender will want to discuss with you. More often than not, what is going to keep you from moving through the process as quick as you’d like, is if your credit scores are not where they need to be.
Facts on Fico

FICO is grading you on a few key factors:

  • Payment history
  • New credit
  • Types of credit used
  • Length of credit history
  • Amounts owed

 

If you are looking at your credit report and seeing several derogatory accounts, late payments or other items you will want to look at cleaning up your credit before you go in to a lender. In an effort to lessen the pain of a solid “No” next time you meet a lender, and miss out on your dream home, please consider the following points. If you feel you are a high risk borrower, there are a few things you can you do to ensure that you can lower your risk to lenders. The more prepared you are and the more education you have, the more equipped you will be to get approved and improve your buying power!

4 Challenges of a High Risk Borrower

1. Do you have a low Fico?

You can be sure that your lender will be taking a look at your credit report when you are thinking about purchasing a home. This score is a large portion of what they are using to determine your trustworthiness and the likelihood of you defaulting on a loan, based off previous loans, bank accounts, credit card payments, etc. As important as the scores are in this process, do not let this keep you from going in to see a lender.

If your FICO scores are low there are several things you can do to increase your scores on your own. Read more here, or speak to a credit advisor at Credit Law Center so they can look through your report and ensure you are mortgage ready before you find the home of your dreams.

2. What does your employment status look like? 

Your employment status and employment change are two very different things. Should you be changing jobs often, this may be cause for concern. If you are working a full-time job with regular, consistent pay, creditors prefer this. If you do not work on a set schedule with set pay however, or maybe are self-employed (with less than 2 years of verifiable income), a lender may be very hesitant to lend you any money.

 

 

free credit repair consultation

 

3. Are you lacking excess funds?

Although there are several programs in place for borrowers with little to no money down, it is a good idea to save and have some skin in the game for a down payment. Many lenders would prefer to work with someone that has shown financial responsibility and saved and set aside money. A lender may be hesitant if you  do not, and potentially feel like you still may be a risk.

4. Are you avoiding other responsibilities you have?

Late payments impact your credit score the greatest. If a lender sees you have been falling behind on responsibilities you already have, this can be a large red flag during this process. Again, they are considering the likelihood of you to fall behind on the loan, and if you are late on several bills, why would they feel your mortgage would be any different?

If the above apply to you, and you are potentially a high risk borrower, do not let that stop you from pursing a home. As discouraging as things might seem, there is hope for you after some time of getting back on track.

If your credit is not where it should be and your lender has expressed concern, you may look into a few different options within credit repair. If you are in a rush and are pressed for time, Credit Law Center can help you through a quick and affordable process. Each round with Credit Law Center lasts 30-45 days. If you have items on the credit report that have to be removed (collections, tax liens, bankruptcy, etc) allow a credit advisor to walk you through a consultation.

The credit advisors at Credit Law Center will let you know what you can work on, on your end as well as what you may be doing that is keeping you from higher credit scores. With a little help and a guide to walk with you, that new home may be closer than you expected.

 

A Note From The Author: The opinions you read here come from our editorial team. Our content is accurate to the best of our knowledge when we initially post it.

Article by Breana Washington

Do you have questions about your credit report? If you would like to speak with one of our attorneys or credit advisors  and go through a free consultation please give us a call at 1-800-994-3070 we would be happy to help.

 

high risk borrower

Am I A High Risk Borrower?│I Want To Buy, Now!

I Want To Buy, Now!

Are you preparing to purchase a home in the next few months? It seems that when we are not looking, a home just pops up and finds us, at a time when we were not even contemplating making a move. Then, boom!  The rush is on to beat the clock and make an offer before the next person does. With how quick homes are flying off the market, the best thing to do is be as prepared as possible right now, in the event you do find what you are looking for.

Many borrowers hoping to apply for a home loan are unsure of what a lender might need because it is either their first time, or the process was so long ago. Let’s go more in depth here, about what you will need to get to the point that you are ready to purchase!

Here are 4 things you’ll want to start thinking about before you meet with your lender:

  1. Locating your W2, pay stubs and documents to provide proof of income
  2. Decide if someone will be on the loan with you
  3. How much money you may have/can save for a down payment
  4. Your credit scores
This list will start to prepare you for what your lender will want to discuss with you. More often than not, what is going to keep you from moving through the process as quick as you’d like, is if your credit scores are not where they need to be.
Facts on Fico

FICO is grading you on a few key factors:

  • Payment history
  • New credit
  • Types of credit used
  • Length of credit history
  • Amounts owed

 

If you are looking at your credit report and seeing several derogatory accounts, late payments or other items you will want to look at cleaning up your credit before you go in to a lender. In an effort to lessen the pain of a solid “No” next time you meet a lender, and miss out on your dream home, please consider the following points. If you feel you are a high risk borrower, there are a few things you can you do to ensure that you can lower your risk to lenders. The more prepared you are and the more education you have, the more equipped you will be to get approved and improve your buying power!

4 Challenges of a High Risk Borrower

1. Do you have a low Fico?

You can be sure that your lender will be taking a look at your credit report when you are thinking about purchasing a home. This score is a large portion of what they are using to determine your trustworthiness and the likelihood of you defaulting on a loan, based off previous loans, bank accounts, credit card payments, etc. As important as the scores are in this process, do not let this keep you from going in to see a lender.

If your FICO scores are low there are several things you can do to increase your scores on your own. Read more here, or speak to a credit advisor at Credit Law Center so they can look through your report and ensure you are mortgage ready before you find the home of your dreams.

2. What does your employment status look like? 

Your employment status and employment change are two very different things. Should you be changing jobs often, this may be cause for concern. If you are working a full-time job with regular, consistent pay, creditors prefer this. If you do not work on a set schedule with set pay however, or maybe are self-employed (with less than 2 years of verifiable income), a lender may be very hesitant to lend you any money.

 

 

free credit repair consultation

 

3. Are you lacking excess funds?

Although there are several programs in place for borrowers with little to no money down, it is a good idea to save and have some skin in the game for a down payment. Many lenders would prefer to work with someone that has shown financial responsibility and saved and set aside money. A lender may be hesitant if you  do not, and potentially feel like you still may be a risk.

4. Are you avoiding other responsibilities you have?

Late payments impact your credit score the greatest. If a lender sees you have been falling behind on responsibilities you already have, this can be a large red flag during this process. Again, they are considering the likelihood of you to fall behind on the loan, and if you are late on several bills, why would they feel your mortgage would be any different?

If the above apply to you, and you are potentially a high risk borrower, do not let that stop you from pursing a home. As discouraging as things might seem, there is hope for you after some time of getting back on track.

If your credit is not where it should be and your lender has expressed concern, you may look into a few different options within credit repair. If you are in a rush and are pressed for time, Credit Law Center can help you through a quick and affordable process. Each round with Credit Law Center lasts 30-45 days. If you have items on the credit report that have to be removed (collections, tax liens, bankruptcy, etc) allow a credit advisor to walk you through a consultation.

The credit advisors at Credit Law Center will let you know what you can work on, on your end as well as what you may be doing that is keeping you from higher credit scores. With a little help and a guide to walk with you, that new home may be closer than you expected.

 

A Note From The Author: The opinions you read here come from our editorial team. Our content is accurate to the best of our knowledge when we initially post it.

Article by Breana Washington

Do you have questions about your credit report? If you would like to speak with one of our attorneys or credit advisors  and go through a free consultation please give us a call at 1-800-994-3070 we would be happy to help.

 

student credit builidng

The New Word Is Yes│A Credit Card Company Ready To Work For You

The New Word Is Yes

Little to no credit history can make it hard or near impossible for students that are applying for student loans or other lines of credit to start progressing. Many institutions turn students away because they don’t already have credit established. But how can you establish credit, when you continue to be denied credit cards in the first place?  Deserve is bridging the gap for students to be able to start building credit, without turning them away due to a lack of credit history.

If you are a soon to be college student, currently enrolled, or soon to be graduate, there are more incentives with this credit card like referral bonuses and Amazon Prime Student perks to start looking into. You’re going to want to keep reading, because it gets even better!

Establishing Credit

This new card helps not only domestic students but international students as well. This credit card will will start reporting to 2 of the 3 major credit bureaus (Transunion and Experian) so making payments on time to your credit card will be very important. To start the process and apply with no credit history, they will be looking at several factors:

  • The financial documents you provide and your credit potential
  • Bank account balances and your ability to pay
  • Your contact information and how frequently it changes in the likelihood that they need to get in touch with you
  • Your major and the likelihood to graduate and get a job

 

The Benefits to the Card

If you are approved for the credit card, you will notice there are several factors that make the Deserve card stand out:

  1. No annual fee and no foreign transaction fees
  2. Your first late fee is waived (do not let this be a trend, lates on a report can harm you scores greatly)
  3. Unlimited 1% cash back on all purchases-rewards will not expire as long as your account is active
  4. 12 months with Amazon Prime Student-a six month free trial and a 12 month statement credit of $49.99 when you use the card for the subscription
  5. Referral credit money to account-$30 of credit every time you refer someone and the friend also gets $30 for joining. You can refer an unlimited number of friends but if you refer 10, you’ll get a $200 bonus to the accoun

In order to start building credit here is what you need to apply:

For domestic students

  • Your Social Security Number

or

  • ID

For International Students

  • Student Via, passport ID or school documents (I-20 form or DS 2019)

Applicants must be 18 years of age for this offer. There is no deposit needed and no cosigner for the credit cards Deserve offers.

 

 

free credit repair consultation

Key Factors to Remember

Often times college age students get out into the world and are ready for independence. Before you start applying for credit cards on your own please consider three very important variables.

1. Debt-Credit cards are not to be taken lightly and should be used knowing exactly the goal in mind-to build credit. Racking up credit card debt will follow you around for years. Buying a tank of gas or a textbook and then paying it off is good practice with your money. Try not to overspend or live outside of your means.

2. Utilization-High balances on a credit card mean low credit scores. If you have a credit card you are using, the balance should be as low as possible. If you are having to use it for something significant and the balance is pretty high, try to cut that down to below 30% of the utilization. This will help you keep your credit scores up.

3. Budget-Keep in mind your why for the credit card you have. If you are hoping to build your credit scores up, remember the other debts after school that will follow you i.e student loans, etc. The last thing you need is a credit card looming over you for years because of a spring break trip you took in college. Know your limits and understand your budgets!

 

While there are many credit card companies out there to help build your credit scores as a young adult, this is just one option out there to explore. Finding the right credit card for you and your needs will take research and patience. Consult a trusted guardian or advice from a relative about the options out there and establish boundaries for yourself. For families, this is a great way to start the conversation on finances and understanding a budget while away from home. Additional resources on student loans and credit building cards, you can follow the link.

 

A Note From The Author: The opinions you read here come from our editorial team. Our content is accurate to the best of our knowledge when we initially post it.

Article by Breana Washington

Do you have questions about your credit report? If you would like to speak with one of our attorneys or credit advisors  and go through a free consultation please give us a call at 1-800-994-3070 we would be happy to help.

 

KC Royals Blog

Ballparks On A Budget

Ballparks On A Budget

Salvy

For once, feeling blue is good! (Royal blue that is) and dare I say it, but baseball season is finally here again! If you have looked at the ticket prices at Kauffman Stadium lately you’ll notice they have not gone down. In 2018, the average ticket price for a Cubs game at the highest end of the spectrum is nearly $60 while the KC Royals average about $34 a ticket. If you were hoping to spend a day at the K, you may be looking at a few hundred dollars between parking, tickets, and those fan food favorites. I fully believe that once in a while an experience at the stadium is worth it (wherever you call home) but there are a few other options in Kansas City that may have slid passed you.

Here are a few (alternate ways) to enjoy my favorite pastime, without striking out on all the fun:

Watch the game at one of the local bars

Power and Light, Chicken N Pickle, Westport or your local Johnny’s Tavern are just a few favorite spots of mine to enjoy a good game. With a great patio, some fun outdoor games, and a cold beer you’ll still be able to enjoy time out in the sun with your friends.

Buy tickets in the top section

Chances are, you will end up wandering around the stadium in-between innings and can hang out in the bar out in left or right field. At some point you may ask yourself “Why did I come to this game, and pay for those seats?” It was for the Dippin’ Dots or maybe that is just me! But, if you are adamant about going into the game, purchasing a ticket for $19.99 in the nosebleeds won’t break the bank.

 

free creidt repair consultation

 

Pack a snack

Unopened plastic water bottles (limited to 1 per person) are acceptable as well as small bags (16×16) of snacks. These can be taken into the stadium with no trouble. For more information on what you are allowed to take into the stadium, check out the Royals website here. Tailgating is another great option to feed your friends and kids before going in and to avoid the high cost of the concession snacks.

 

Catch a T-Bones game

With free parking and fireworks every Saturday, this is a great alternative option for families that are wanting to take their kids out for a fun baseball experience. Select seats are $11 and there is entertainment just about every inning.

What I didn’t talk about is the one way I prefer to catch all of my baseball games-by radio. Although it may be old school (millennial’s cant be old school, or so I’ve heard) there is something fun about relaxing on the patio at home and listening to the announcer describe the scene. If you are a true fan of the game, it’s fun to imagine what the field looks like and the sound of my favorite guy walking through the isles of Kauffman Stadium yelling “Lemony, Lemony, Lemonade!” That is what this time of year is all about.

Whether you choose to enjoy the sights and sounds of Kauffman this year or decide to do something totally different, Kansas City offers many outdoor activities  for families on all budgets!

A note from the Author: The opinions you read here come from our editorial team. Our content is accurate to the best of our knowledge when we initially post it.

Article by Breana Washington

Debt Top 10 Reasons

Top 10 Causes of Debt – Credit Law Center

Debt is the amount of money borrowed by one party from another. Consumers typically borrow money from credit card companies or private loans for purchases that they may not be able to afford upfront. Debts are acquired from a car loan, credit card, personal loan or even student loans. In June 2017, U.S. consumer debt rose 3.9 percent to $3.856 trillion. That surpassed last month’s record of $3.843 trillion. The key to debt is being able to pay it off without damaging your credit score.

Top Ten Causes of Debt

  1. Reduced Income With The Current Amount of Expenses
  2. Divorce
  3. Poor Money Management Skills
  4. Medical Expenses
  5. Gambling and Addictions
  6. Underemployment/Not Earning Enough
  7. Spending before you get Paid
  8. Not Saving Enough
  9. Inflation
  10. Financial Literacy

 

Examples of the top 10 causes of debt

1. Reduced Income with the current amount of expenses: Earning a lesser amount per year could be due to a job change. Outstanding bills don’t just go away with a job change. Your current bills will likely stay the same and possibly could increase. You may feel like you are unable to keep up with your monthly bills and wind up deeper and deeper in debt.

2.Divorce: As divorce continues to become more common and couples are spending a significant amount of money beating each other up in the court rooms. One thing is valid divorce, and family lawyers are not cheap, and the more time you spend battling it out in courts, the more you will spend on legal fees.

3. Poor Money Management Skills: Many Americans live paycheck to paycheck, and one little mishap can cause you to snowball. Keeping a monthly budget is essential when you have a debt to pay off. If you are not keeping track of your monthly income and the amount you are putting out in bills, you will wind up in financial trouble.

4. Medical Expenses: Medical services are often necessary to remain healthy, and depending on your situation can be extremely harmful to your pocket book. Many doctors, dentists, and hospitals require the payments at the time of service. A significant portion of specialists and dentists accept credit cards and offer to finance. Essentially this means more debt for you, not them.

5. Gambling and Addictions: Gambling and any other addictions can be downright dangerous financially! Gambling may seem exciting at the time, but dealing with the financial strain after you have spent your house payment, car payment and possibly drained your savings you may feel devastated. If you have a gambling problem or any other addiction that is draining your pocket book, reach out to a professional for help.

6. Underemployment/Not Earning Enough: This is very similar to #1. If you are underemployed, you may feel it is a temporary situation, and in a matter of time, it will work it’s way out. This can lead to a false sense of financial relief especially when you are collecting unemployment. Taking a break is great, but you will want to make sure you are making more money than your monthly bills and ending up in a financial hole.

7. Spending before you get paid: Counting your chickens before they hatch is never a good thing. Buying something today depending on tomorrow is never a good thing. Life can change in a matter of minutes, buying something in hopes of an upcoming bonus could leave you in a financial bind, if something unexpected happens and you don’t receive that bonus. Don’t spend until the money is physically in your hand.

8. Not Saving Enough: Putting aside money every month can significantly impact your financial health. It doesn’t matter how much you make monthly you will want to save something every month. Building a nest egg for emergencies is crucial. Ideally, you will want to try and save up to six months of living expenses in case of something bad happens, such as a layoff, you become ill or a divorce. Remember to “Pay yourself first

9. Inflation:  is often overlooked when it comes to debt. You may not realize how much the cost of living goes up every year. In recent times companies and administrations have struggled to stay afloat and are unable to give annual raises. With the price of housing, food, gas and other expenses increasing annually, this leaves the employees finding ways to supplement the cost increase. Look at the type of savings account you have your nest egg in, find ways to cut back on food and other expenses.

10. Financial Literacy: Many consumers do not quite understand how many works, how money grows, how interest rates function or how to invest in your futures. I am sure there is someone in your immediate circle who doesn’t even know how to balance a checkbook. Think back to when you were in school, were you taught this information? You are responsible for your own life and future, therefore taking charge is your responsibility. If you feel you are inadequate in these areas, take charge and educate yourself. Financial mistakes can be very costly and take you years to recover from being uneducated.

Are You Wasting Money

Are You Wasting Money? 5 Common Ways You May Be Wasting Money- Credit Law Center

If you actually took the time to add it all up you would be in awe of how much you have wasted.

Here is a list of the most common ways Americans waste money.

Coffee

How many times a week do you stop and get a coffee from a high-end coffee shop? Even if you spend on average $4 per cup 3 times a week, that equals $12 a week, dig a little deeper, and that equals $624 a year! Imagine if you made your coffee at home and put that extra $624 into a savings account.

Eating Out

With our busy lives eating out at a fast food restaurant can be very convenient, but also a huge waste of money. For a family of four, the average cost for eating at a fast food restaurant can be about $25 per visit. If you do this two times a week that comes to $50 a week if you stick with this weekly pattern that may cost you around $2600 a year!!!! Just cutting it back to once a week would save you a significant amount of money.

 

Grocery Shopping When You are Hungry

Have you ever went to the grocery store hungry and you spent a considerable amount more than you had budgeted? The grocery store is notorious for putting things at the end of aisles to catch your attention and increase impulse buying. Going to the grocery store hungry may be harmful to your budget, try eating before you go to the store. If you have a budget that you have decided on and if truly need to stick to your budget, you might consider ordering groceries online and having them delivered to your home. Ordering online will stop impulse buying and helps you stick to your budget.

Cellphone Data

Cellphones are the norm in this day and age, and having one is no longer just for emergency situations. Having a cell phone with us now takes the place of bringing a camera along, we use the phone to look up directions, and anything else we can think of. An important money saving tip is to ensure you have the appropriate data plan from your cell phone provider. You may not be using the amount of data you have on your plan, or you may be going over the data and racking up astronomical charges per month. Be cautious and review your plan, so you get the biggest bang for your buck.

 

Gym Membership

At the start of every year, Americans rush to the gym thinking this will be the year you get fit. You get the gym and the enthusiastic representative signs you up for a yearly or monthly fee. Fast forward 2 months and you are sitting on your couch each night and not attending the gym anymore. What a waste of money! Gym memberships can be great for those of you that actually use them, however before joining a gym set a goal to work out on your own for a period of time. If you meet that goal reward yourself by joining.

5 Tips to stop Living Paycheck to Paycheck

5 Tips to Stop Living Paycheck to Paycheck- Credit Law Center

Many Americans are ending up broke month after month, even when their income is well above the poverty line. A recent survey by Suntrust Banks found that a third of higher-income households, (those that bring more than $75,000 or more a year) are living paycheck to paycheck.

It’s easy to get caught up in debt, once you are living paycheck to paycheck. You are more likely to use credit cards to pay for monthly expenses, therefore racking up more debt. Each month you will pay just the minimum amount owed, and continuing to rack up more and more interest.

If your income is steady, but your financial habits are what is causing you to live paycheck to paycheck, here are some helpful tips to overcome the paycheck to paycheck struggle.

1. Create a Monthly Budget

Many of us are poor at money management because we haven’t been taught the proper ways to manage money. Creating a monthly budget and sticking to it is much as possible. Budgets are a great way to get you back on track. Some budgets can be as simple as keeping track of your paydays and the due dates of all your monthly expenses, then determine items you might be able to cut back on to start saving money.

2. Stop Spending Impulsively

How many times have you grabbed something that has been placed at the end of an aisle at the grocery store, or Target? At some point or another, I am sure we are all guilty of this. Often we don’t ever use the product, or we may get home and instantly regret purchasing it.

3. Stop letting your feelings sway your shopping

Instant gratification can be a huge culprit in buying items we do not need. Emotions play a significant role in buying unnecessary items, your child may be upset about something, and you go and buy him/her a new toy, or maybe you just rearranged your living room, and you decided that to make it complete you need a new chair. You go and buy, and regret spending the money later. When you are feeling this way, maybe writing it down on a wish list will help curb the impulsive spending.

4. You’re Still Paying for Unused Memberships

With debit cards and credit cards being readily assessable to pay for things in this day and age, it allows for us to sign-up for gym memberships, video programs, and more. I know I have a gym membership that I have paid for the last 12 months and never used it.

5. Pay Attention to Your Bank Statement and Credit Card Statements

If you find yourself broke month after month, it may be a little easier to stomach if you avoid looking at your bank statements and credit card statements. Avoiding these important financial documents could be detrimental to your financial health. How can you possibly create a budget or tackle your financial situation if you are avoiding the key to your situation? You can’t! It is also important to review your statements to make sure all information reporting is correct, in this day and age there is a significant amount of fraud going on.

After you find ways to cut unnecessary spending and begin saving it will be important to start paying more than the minimum on your current credit card obligations. This will significantly help pay down the amounts owed and the interest you pay.