4 Helpful Steps to Getting Better Credit

It's often stated that cash is king. While cash is important, nothing beats an excellent credit score, especially when credit can get you so much farther these days. With an excellent credit score, you’re able to open so many wealth-building doors. 

You can leverage an excellent credit score to get amazing interest rates, points, and loans. Not only that, but it makes big purchases, like houses or cars, much easier since the people you’re working with know they can trust you. 

If you don't have a great credit score, there's no time like the present to begin the rebuilding process. Consider the four helpful steps in order to achieve better credit.

Pay on Time

While there are certain tricks of paying at a time when the credit bureaus track everything, start by focusing on making payments by your assigned due dates. Also, it's important to note that many creditors require you to pay by a specific time of the day. 

If your credit card payment is due on July 27th, don't think that you can pay anytime before midnight. In fact, many creditors require you to pay no later than 5 PM PST or 8 PM PST. If you pay even a minute later, it's considered late.

Get a Consultation

In order to leverage your credit moves, consider a consultation with a financial professional. Talking with professionals who know how to navigate financial management and credit scores, professionals at establishments such as Luckie Seven Solutions Inc, means it should be easier to get a better understanding of how long it can take to improve your credit, practical steps, and credit goals. 

They can even help you come up with a financial plan to improve your score and keep you on track to maintaining it.

Pay the Balance Each Month

When you're able to pay the full balance each month, this may open up more perks from your creditors such as grace periods and points. Be intentional about planning your spending on your credit cards. 

If you can focus on purchasing the necessities with your card, pay it off at the end of each month. You should already have the money to cover the necessities so it won't be difficult to develop a strategic system with your credit card usage.

Use No More than 30%

If you're not the most disciplined person, don't use the entire balance if you don't need it. If you have access to a $1,000 credit limit, try not to use more than $300. 

Unless you know that you can pay the balance every single month, try not to use more than 30% of your available credit. It doesn't look good when you have a habit of maxing out all of your credit cards without paying the balance down completely.

While there are financial advisors who preach the "debt-free" gospel, it's only practical if you don't know how to manage credit wisely. In fact, it's best to learn how to manage credit wisely in order to leverage it and build wealth. 

Plus, when you have excellent credit, you'll be able to recognize how much access you truly have because creditors trust you to manage their resources well.

How a Lawyer Can Help You While You're on Long-Term Disability

Are you on long-term disability? If so, you may be scared to know what will happen if your condition worsens or if the company paying for your medical care goes bankrupt. 

You are not alone in this fear! Thankfully, there are many ways that a lawyer can help you during this difficult time. Read below for seven reasons why it's important to seek legal advice while on long-term disability:

To Help You Fight for Your Benefits

When the company paying you long-term disability begins to question whether or not their payments are correct, they will hire an attorney. If this happens, it is important to do the same to protect yourself and receive all of the money you deserve.

To Help You With Any Appeals

If your company decides on whether or not they will pay for an appeal, their attorney will submit this request. If necessary, it is important to hire legal representation so that the process can be as successful and smooth as possible.

To Help You Fight Against Fraudulent Claims

If the company believes that your long-term disability claim is fraudulent, they may hire an attorney to prove it. If this happens, make sure that you are protected by hiring legal representation as well.

To Help You Fight Against Discrimination

If the company believes that they are not responsible for your long-term disability, there is a chance that they will try to prove it. If this happens, be sure to hire an attorney so that their claims can be proven false.

To Help You Challenge the Status of Your Claim

If there are any suspicions about whether or not their health is improving, it may be necessary to hire legal assistance. This will ensure that everything goes as planned so that your benefits can continue even if things don't seem clear.

To Help You Get the Right Amount of Money

If your company decides to change how much they will pay for medical care, you must understand what this means. If necessary, hire a long-term disability attorney so that everything goes smoothly and all of your benefits are protected.

To Help You Fight Against Tax Implications

When your company decides to change how much they will pay for long-term disability, this could mean that the amount of money you are receiving is taxable. 

If necessary, hire an attorney who can explain more about what exactly this means and how it may affect you.

How a Mortgage Broker Can Help You Fully Enjoy Your Property

If you are a homeowner with a mortgage, you know how difficult it can be to keep up with the monthly payments. The best way to make your situation easier is by speaking with a mortgage broker. 

A mortgage broker can help you get better rates and determine which plan will work for you and your family's needs. This blog post will go over five methods that a mortgage broker can use to help homeowners have more fun with their property.

Determine the Type of Loan

A mortgage broker will help you decide which type of home financing is best suited for your needs. The options include adjustable rate mortgages, FHA loans, conventional loans, and 30-year fixed-rate mortgages. 

Each option has its pros and cons that a mortgage broker can explain to you in detail. By determining the correct type of loan for you, a mortgage broker can help ensure that your monthly payments will be affordable and stress-free.

Ensure Payments Are Affordable

Mortgage brokers can help you get the lowest possible rates on loans. By having a good relationship with several banks, mortgage brokers will often find better interest rates than if you were to apply by yourself. 

If you've found that there's no way around increasing your credit score in order to get a better interest rate, then you should consider asking your mortgage broker to help out. 

They can speak with lenders on your behalf and explain the situation so that they can find the best solution for you. This is just one way that brokers can save their clients money by getting them lower rates.

Help You Find the Best Solution

Do you know what type of mortgage plan will work best for your family? If not, then an excellent way to get help is by speaking with a mortgage broker. 

Mortgage brokers often have access to countless lenders and banks that they can use to determine which loans would be most beneficial for their clients' needs. 

For example, if you're self-employed or running your own business, then lenders will be more likely to work with you and offer better terms than the average person applying for a loan on their own.

Explain the Pros And Cons of Different Loans

Not only will a mortgage broker be able to help you get better rates on your home financing, but they can also explain in detail what each option has to offer. 

For example, adjustable-rate mortgages often come with lower interest rates than FHA loans or conventional mortgages. However, ARM’s usually have higher rates than 30-year fixed-rate mortgages. 

By choosing the right type of loan, you can save yourself money in the long run.

Discuss Loans And Financing Options

Do you know what type of home financing loan is available to homeowners? If not, then your best bet is to speak with a mortgage broker. 

Mortgage brokers will be able to help you determine which type of home financing works best for your needs by explaining the pros and cons of each option in detail. 

For example, an FHA loan often has lower monthly payments than a conventional mortgage. However, FHA loans require smaller down payments. Interest rates are usually higher on the average of all types of home financing options.

In conclusion, a mortgage broker can help you with your home’s finances, find a suitable loan, and allow you to enjoy your property more by saving you money in the long run.

4 Ways To Evaluate If You Can Afford A New Car

While you may be itching to get behind the wheel of a new car, they tend to cost quite a bit of money. Depending on the type of vehicle you desire, you could find yourself facing a substantial loan payment each month for almost a decade. 

To figure out if you really can afford a new car, here are four evaluation tools you should always use before heading to the dealer's lot.

Your Take-Home Pay

First of all, consider how much money you actually bring home from your job. As a general rule, it is recommended that you only pay no more than 10% of your take-home pay towards a car payment. 

If after figuring up your other bills and how much money you'll have leftover you find you'd be spending well over 10% of your monthly take-home pay on a new car, you may need to look at other options.

Car Insurance Rates

Along with paying for gas, maintenance, registration, and other regular expenses, there will also be the matter of paying for car insurance. 

Since this can vary depending on the type of vehicle you want, your driving history, and other factors, don't buy anything until you have contacted experienced insurance agents to get a quote on your insurance rates and discuss what options you may have to make your insurance as affordable as possible. 

For example, you can reach out to The Lofrumento Agency, Inc. for car insurance recommendations.

Own or Lease

If you are like many people who want to drive a new car every year or so, you may decide to lease a vehicle instead of buying it outright. If you are on a tight budget but really want to have a new car, leasing may be a smart way to go. 

In many instances, you will need less money down to buy the car, have smaller payments for a shorter period of time, and then get to hand it back to the dealer a year or two later. 

However, if you choose this path, remember to keep the car in great shape and watch your mileage, since additional costs can come if you mess up the car or drive it more than anticipated.

Your Loan Terms

Finally, if you can only afford a loan for your car that has you paying on it for the next decade, chances are that you can't afford the car. Since most experts recommend loan durations be no more than 36 months for a used car and 60 months for a new car, keep this in mind as you look around.

By using these evaluation tools, you can make a smart financial decision regarding your car purchase.

Costs All Seniors Need to Be Prepared for and How You Can Manage Them More Easily

You may have been setting aside money for retirement your entire working life, and you probably think you’re set. However, many seniors are surprised to find out just how expensive things can become as you age, especially as you take on extra costs. 

Unfortunately, if you don’t think about these costs early, you may not have enough money set aside. These are some costs you should prepare for and ways to make them easier to handle.

More Doctor’s Appointments

It’s not uncommon for seniors to need to go to the doctor more often than they did when they were younger. Insurance might not cover all of these costs, and you may end up having to pay medical bills that you weren’t expecting. 

You can manage these costs more easily by going over their insurance plan to see what’s covered and what isn’t. Also, take a look at your family history to see what kinds of health concerns you might need to prepare for.

Moving to a Senior Living Facility

Many seniors end up moving to a senior living facility at some point. While some seniors resist this move or consider it to be limiting their own independence, there are many different benefits to it. 

First, it gives you an easy way to get regular social interaction, which is something many seniors struggle with. Many communities also offer a variety of classes and activities for residents. 

There are often many other senior-friendly amenities close by as well.

Some seniors write off senior living communities because they think they’ll be too expensive. However, while these communities aren’t cheap, instead of having to juggle monthly payments for your mortgage, home insurance, home and yard maintenance, groceries, and other related expenses, you can consolidate these into one monthly payment.

Dietary Changes

A lot of seniors need to change their diet as they get older. They may develop food intolerances that they didn’t have when they were younger. 

Unfortunately, many of the remaining foods you can rely on can be more expensive, and you may notice a spike in your monthly grocery bill. 

To manage this, look for inexpensive recipes that you can easily make at home. With some conscious meal planning, you can get your grocery bill back under control.

Additional Medications or Medical Equipment

Many seniors may wind up having to take medications or needing certain types of medical equipment, even if they have been fairly healthy all the rest of their lives. While these items can be costly, you can find the best deals available by shopping around. 

Compare prices for different retailers for medical equipment by doing some research online, and look for coupons that you can use for prescription drugs.

Try Bill Management Services

Even when you find ways to save money, juggling bills and payment deadlines can be a struggle for seniors. This is especially true if you experience memory problems or if you have limited time or technology. 

However, missing due dates can lead to vital utilities or services being shut off or to you not getting the medication you need. A bill management service for seniors can help you pay your bills on time without you having to worry about what is due when or about over-or under-paying.

While many seniors do have to allocate money for things that they just weren’t prepared for, you still have many options. The key is to look for ways to cut back where you can so that everyone feels adequately prepared to manage these costs.

5 Tips to Help You Plan Out Your Tax Payments

The end of the year is quickly approaching and if you're like most people, that means it's time to start thinking about your taxes. If you haven't already made preparations for this year's tax season, then now is the time to get started. 

In this article, we will go over 5 tips that will help guide you through the process of planning out your tax payments. With that said, let’s jump into these 5 tips.

Start Early

You should start planning out your tax payments as soon as you have a solid idea of how much money you're going to earn for the year. 

This is because your tax bill will change depending on whether you received a bonus at work if any extra income was brought in from side jobs, and so forth. 

If it takes you a little longer to gather up the money you owe, then tax planning as early as possible will give you more time to save.

Consider a Side Job

If you're having trouble saving up enough money for your taxes before the end of the year, then taking on a second job could be what helps get you to where you need to be. 

There are quite a few things that people do as part-time jobs in addition to their day jobs, such as cleaning tables at a local restaurant or walking the dogs in the neighborhood. 

For some extra cash, you could even sell stuff that you no longer use anymore like clothes, appliances, furniture, etc.

Be Sure to File

If you're like most people, then it can be easy to forget about your taxes until the last minute. However, if you do this and don't end up filing them in time for the tax deadline, then there's a chance that you could get hit with some pretty hefty fines. 

Many states will charge you a late filing fee of up to $100, and failing to file could result in the IRS charging you interest on your outstanding tax bill.

Use Your Deductions

If you're going to be paying taxes for the upcoming year, then it makes sense that you should try and minimize what you end up owing. 

This can be done by utilizing various tax deductions available to people who fall into specific categories, such as getting a mortgage or owning a business. 

By taking advantage of these deductions, you could end up saving a significant amount of money on your taxes when the time comes to actually file.

Make Estimated Payments

If you're worried that your tax bill is going to be higher than normal, then it would probably be wise of you to start making quarterly estimated payments. 

Doing this will help ensure that the IRS doesn't end up charging you late fees for not having enough money on hand when the deadline rolls around. 

The main downside with doing this is that you'll have to set up a payment plan with the IRS and if your income goes down for some reason, then there's also the possibility of having to pay back what they already gave you.