What is a Credit Score?

A credit score is a number representing the “creditworthiness” of a person or the likelihood that he/she/they will pay their debt. Credit scores are linked to your social security number.

A credit score is a number that usually ranges anywhere from 300–850, determined by the three main credit reporting agencies: TransUnion, Experian, and Equifax. It basically represents the risk you present to a creditor as far as being able to pay back loans and credit card balances.

Continue Reading

I’m thinking of opening a long-term savings account, I want to make sure I can have the best interest possible, what do you suggest?

The best way is to start exploring is through “America’s Best Rates” on Moneyrate.com. This website will give you a list of banks that offer consistent high yields. Then go to Bankrate.com to see if any of those banks are around your area. This website also allow you to compare all the banks within your city limits along with the interest rate they offer.

Continue Reading

4 Easy Steps to Creating a College Budget

  1. Talk it out. Before building a budget, chat with everyone who will be involved in financing your education. Discuss who is paying for what, expected expenses, financial aid and perhaps opening a new credit card or checking account.
  2. List expenses. Anticipate the costs of textbooks and school supplies, room and board, transportation, clothing and discretionary spending.

Continue Reading