Tag Archives: Money

4 Ways to Have Better Credit Score

Credit ReportThe credit score is one of the most important factors you have for you to be able to access financial assistance from banking institutions. If you have a good credit score, you are more likely to be able to have your credit card or personal loans approved.

A bad credit score is not the most helpful thing to have when you have financial difficulty. The following are ways you can do to improve your credit score.

Get a mortgage

It may seem like getting a mortgage is the antithesis of boosting your credit score. But it actually is quite helpful especially when you have a history of paying your monthly dues on time. Apart from that, it also has tax benefits, reins in the financial impact of asset depreciation and lessens the risks.

Get a Utah mortgage from firms such as Altius Mortgage Group to get these advantages.

Eliminate credit card balance

One of the things considered in determining the score is the balance of your credit cards. If you have money to pay these balances off, settle them right away to have better chances of having an improved credit score.

Put old debt on report

If you were able to pay off your old debt on time, it would be positive for you to put that on your credit report. This will improve your chances to get a loan approved.

Pay your bills on time

Always pay your bills on time. This is to ensure that the credit score is not too low and so that your credit history is flawless.

Whether you are going to apply for a loan to help you with financial difficulty or you are trying to make a big purchase, a good credit score will do a lot in giving you financial security. This should be enough reason for you to make it an endeavor to have a better credit score.

Is it Hard to Secure a Construction Loan?

Money, calculator and contract focused with house blurred backgroundIf you value customization over convenience, building your home from the ground up is better than buying an already existing one. New home construction projects are actually not uncommon in the North Star State. Despite the additional costs, many homeowners choose to build instead of buying to bring the home up to code successfully. Like a blank canvas, a vacant piece of land offers countless design possibilities.

The only challenge to those who tackle new home construction in Lakeville, MN, and nearby areas are obtaining a favorable mortgage to fund your project. Here’s why it can be hard to secure a construction loan:

Stakes Are Extraordinarily High

Most lenders are reluctant to loan a considerable sum of money for a property that doesn’t exist yet. The construction process is full of uncertainty, making it an extremely risky endeavor. If things don’t go as planned, the lender might find it difficult to recoup the money even if the piece of real estate is used as a collateral. In the end, absorbing significant financial losses is highly probable.

Strong Lender Relationship Is Important

Considering most lenders don’t aggressively market high-risk construction loans, the ones that are likely to provide you with the funding are those that are already known to you. Talk to financial institutions, such as banks and credit unions, which you’ve already established relationships with. Not only they increase your chances of approval, they are likely to offer lower interest rates as well.

Large Down Payment Is Necessary

Even if you manage you find a willing lender, don’t expect the mortgage to finance the entirety of your project. To reduce the risk of your new home construction project, the lender may only offer to cover 80% of the expenses — or even less. Be ready to put down at least 20% of the project’s overall cost to get it off the ground.

Don’t let the scarcity of construction loan providers discourage you from realizing your goal of building your dream home from scratch. Take your time to explore the available financial products and study your options to identify the most favorable ones.

How Business Owners Can Save on Overhead Costs

A money box and electronic calculatorAs a business owner, you should always find ways to reduce your overhead costs without sacrificing the quality and value of your services or products. There are ways to reduce your operating expenses while maintaining every aspect of your company that keeps customers happy.

Consider a Modern Workspace

If you operate a smaller business, consider the benefits of a modern workspace. A virtual workspace allows you numerous modern benefits, including a reputable address and phone number, and even a secretary who will answer customer calls for you.

Contact a company that offers virtual office franchise services in your area for assistance, such as Venture X.

Sublet Your Extra Space

If you have extra office space that goes unused, it is a waste of resources. Unfortunately, many new startup companies find themselves locked into 3 or even 5-year lease terms, making it impossible to move on and find a space that is better suited to their needs.

Fortunately, you can reduce overhead costs and wasted space by subletting the unused office space.

Switch to Electronic Paperwork

It costs money to store paper files. Paperwork takes up space in your office, and you lose time and money when you have to dig through stacks of paper to find what you need. Rather than investing in a space with a storage space or digging through files, switch to electronic paperwork.

Aside from reducing overhead costs, you will also save at least a few trees.

Control Purchases You Make

Another way to reduce overhead costs is to reduce the purchases you make. Evaluate every purchase made to determine if it is necessary. If you find that it is something you can go without, skip it. Also, look into alternatives to what you want to buy to see if there is a cheaper option.

Controlling your purchases can save you money and reduce overhead costs greatly.

You will find that once you reduce your overhead costs, your profitability will increase. You need to improve your profitability to succeed as a business owner in this day and age.

Buying a Boat on Black Friday Offers More Than Just Discounts

mature man driving speedboatBlack Friday may be over and for those who decided to buy a boat, the advantages of doing so on this day involve more than just discounts.

Aside from saving money, shopping for a new boat in late November often allows you to choose from different models. That is because most retailers seek to clear their summer inventories before stocking on the following year’s new models.

Inventory sale

Since most sellers aim to clear their inventories to make room for new boats, this will prompt them to offer attractive prices that you otherwise were unable to afford during the boating season in the middle of the year.

Even if you live in states such as California where there are no off-peak times, you may still find several dealerships that want to get their hands off old models. In states with cold weather, a purchase during the holiday season provides you with more time to customize your boat before using it in spring. Take note that you should not use basic household products such as bleach to maintain your boat, which seems to be a common practice.

First dibs

If you have some money to spare, you may also be able to afford new models that are due to be launched in the following year. The winter season often marks the start of boat shows nationwide. Boat manufacturers aim to take advantage of holiday spending by offering discounted top-of-the-line boats.

Boat shops also sell various accessories, including a custom boat cover at an affordable cost. The cost for these ancillary products also goes down during Black Friday. If you dislike shopping along with many people, you can take relief that not many Americans go to boat shops on this day.

With all the advantages of buying a boat during Black Friday, do you think there are other days that are better to make a purchase?

Divorce costs a lot, yet there are ways to cut expenses

torn piece of paper with divorce text and paper couple figuresThe cost of filing for a divorce can be just as expensive as marriage, although the latter can be quite daunting as it often catches you by surprise.

Marriage requires you to spend the time to prepare a budget. On the contrary, some people may not afford to be divorced, simply because it would be strange to establish a budget for it long before the marriage turns sour.

Cost Cutting

Despite the significant costs, there are ways to reduce the expenses related to your divorce. If you live in Colorado, finding the right divorce attorney in Boulder will require you to scout for many lawyers before knowing which one fits your budget.

Some lawyers may allow you to pay fees based on an installment plan, which will be very useful for those that are unable to pay upfront charges. Others also agree to work on a limited scope representation, such as only appearing in court to represent you in a single hearing. In the end, you ultimately decided the best cost-cutting measures for your case. The high cost of divorce could be one reason why more Americans have decided to remain single.

Expensive Vows

Opportunity America and the American Enterprise Institute’s research showed that married life has become a mark of social status, amid a huge gap in the marriage rate between the rich and poor. The marriage rate for poor Americans aged 18 and 55 years old sharply fell to 26% from 51% in 1990.

While money seems to be the main issue, there are other reasons for the drop in marriage rates. For instance, there are fewer jobs that can support marriage for young adults without college degrees, according to Andrew Cherlin, a sociologist at Johns Hopkins University.


Divorce will require you to spend money, which is why you should be financially and emotionally stable before embarking on a plan to tie the knot.

Report: More Americans Decide to Stay Single to Save Money

Lady with money bills on her right hand and a gold bar on her left handCompared with data from 10 years ago, more Americans have decided to stay single due to financial uncertainty. This is according to Pew Research Center’s analysis of data from the US Census Bureau.

In 2007, the data showed that 39% of all adults in the U.S. lived without a partner or spouse. It has risen to 42% in 2017. The trend has been prominent among people under 35 years old. Researchers consider an estimated 61% of them to be “unpartnered” compared with 56% over the past decade.

Cost Savings

The increase of more adult singles stemmed from their lack of financial confidence. This is according to Kim Parker, director of social trends research at Pew Research Center. However, it also indicated that people today are more conscious of becoming financially prepared before exchanging wedding vows.

Regarding divorce as a contributing factor, the Pew analysis has suggested that it had nothing to do with the growing number of single adults over the 10-year period. But, it may be too early to say that it has no influence. Parker noted that divorce rates among baby boomers and older adults are on the rise. The type of job that you have could also determine the likelihood of a divorce.

High Divorce Rates

Gaming managers are the most vulnerable to a divorce with a 52.9% rate. The reason behind this involves their constant exposure to a party atmosphere, gambling, and alcohol. All of those could strain a marriage.

The place where you live could also be a factor. Gaming managers in Atlantic City, New Jersey, may be more likely to need legal counsel. This is in comparison with those seeking an Albuquerque divorce lawyer in New Mexico.

The increase of adult singles hints on some people’s choice of becoming financially and emotionally stable before marriage. At the same time, the census data should conclude that more people are unhappy due to the absence of a partner or spouse.

Trusted Lending Companies

Money Talk: Handling Unplanned and Unexpected Expenses

Trusted Lending Companies in Salt Lake CitySome expenses come out of nowhere and leave you panicking trying to figure out how you’ll get a specific amount in the shortest time possible. Whether you’re living alone or with your family, unplanned and unexpected expenses may create chaos to your budget and future plans. Knowing how to handle them is the key. Here are some ways you can try:

  1. Identify All the “What Ifs” – No matter how much you prepare, you can’t exactly tell what financial problems will come. Even if this is the case, you should still do it. Who knows, the preparation you made may lessen the burden because you’re part ready no matter what expenses might come.
  2. List Trusted Lending Companies – There are emergencies that leave you no room to look for possible sources of cash. Experts recommend making a list of trusted lending companies in case you need money within 48 hours. Whether it’s a Salt Lake City title or signature loan, all you need is to make sure you’re transacting with a legitimate and reliable lending company.
  3. List Items You’re Willing to Let Go – Unexpected expenses don’t always demand for immediate payment. If this is the case, then you should have a list — including photos — of the items you’re willing to sell in case of emergency. A list of potential buyers might also help.
  4. Open Multiple Savings Accounts – Open a new account and set aside some of your money for unexpected expenses. You don’t have to do this regularly; simply make sure you’re putting money in it whenever you can. Having separate accounts is helpful because you’re less tempted to splurge on items and services you probably don’t need.

Money problems can be a major headache, but you can avoid this with the simplest preparation. Find out which works for you to know how to deal with the situation efficiently and successfully.