A late payment is simply a payment that you have not made to the lender before the due date. This happens to the best of us as we can make mistakes due to oversight or shortage of cash. Unfortunately, these mistakes will negatively affect your credit score and cause it to drop dramatically as your payment history is the key component used to calculate your credit score. In this article, we will discuss how late payments affect your credit score, the other potential penalties, and tips on how to keep your future credit…continue reading →
Money management can be tough when you are single, but incorporating your spouse‚Äôs finances when you get married can be overwhelming. It is nothing new that financial conflicts can cause major problems in relationships and is one of the main reasons couples end up in divorce. Traditionally sharing finances was a part of the journey after marriage but nowadays it is becoming more and more common for couples to either divide expenses down the middle, or delegate certain expenses to each. This is becoming more common especially for working couples. However, at the…continue reading →
Plenty of homeowners would like to pay off their mortgage early as it is a hassle and a headache. It's their largest monthly payment and takes out a good chunk out of their budget. It is understandable as there are many reasons to pay off your mortgage early. It will not only help you save hundreds (even thousands) in interest but will also help you feel secure at the thought of owning your own home. At the same time, there are benefits of not paying your home loan ahead of schedule. The approach…continue reading →
When you apply for a loan, a credit card or any other form of credit, every point in your credit score counts. So, you may want to consider boosting your credit score before applying for any type of credit as even a few points added can make a large difference. With a higher credit score, you can save on fees, annual percentage rates, higher bonuses, and perks. There are many things that you can do to improve your credit core over time, but credit bureaus often do not make the relevant adjustments for…continue reading →