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Controlling Your Debt: How To Boost Your Credit Score

Written by Dian Herdiana on 8:13 AM

A credit score acts much like your high school report card. It features a three-digit “grade”, which reflects a person's credit worthiness to potential creditors, banks, insurance companies, mortgage companies and even employers. The higher your score, the greater will be your chances of availing credit. Here's how to control your debts, and boost your credit score.

Review Your Creidt Report

Ther are three major cretid reporting agencies today, and through these agencies, you can get a copy of your credit report, for you to closely evaluate it. Just like using a fine- comb to weed out tangles and loose hair, you need to review your credit report with a keen eye for incorrect data, or any inconsistencies. Check out any incorrect payments, credit limits, or collection data that you strongly feel is not yours. It's a fact that some typing errors or numerical glitches often show up on some credit reports; therefoe you need to get a copy of your credit report at least once a year.

Pay Your Obligations On Time

Always make sure that you pay off all types of debt or bills on time. Late payments or any delinquencies will truly have a major effect on your credit score. If you forget to pay one or two of your bills on time, prepare to have some red marks or black eyes on your credit history. To steer clear of any delinquencies, try setting up your bills for automatic withdrawal from your personal ckeching account, so that you won't have to deal with any collection agency in the future.

Balance Your Credit Card Spending

Regardless of whether you have one, two or three credit cards, remember to spend wisely and balance your credit card obligations. If you don't have the money to pay an existing credit card balance at the moment, try getting a loan from a family member or relative, so that your debts can be wiped off from your card, and your credit score also gets a helpful boost.

Never Do Loan Shopping

Whenever you continually shop for loans, or submit to as many lenders within just two weeks, your credit score will surely suffer a major drop. Try to do a cluster of loan inquiries within a proper period of time, like one every two weeks, so that your credit score remains strong, and won't have to suffer major drops in credibility with lenders.

According to credit experts, a credit score of 300 to 580 indicates that you'll only get approved for loans which offer very high interest rates. A credit score of 651 to 710 means that you'll be able to avail of credit at moderate interest rates, while a score of 751 and up indicates that you'll be able to get the most competitive and flexible loan packages available in the market today.

Manage Money For The Home

Written by Dian Herdiana on 11:07 AM

Managing money may have been something that we have already started practicing since we started receiving allowances from our parents. Most of us learned to manage money at a later time when we got to elementary schooling since we only had our lunchboxes during kindergarten to support our ever hungry stomachs. As we grow older and leave the academic environment, we then begin to focus on managing our money on other things such as a relationship and self sustenance. As we go into married life and start our own family, we then focus on how to manage money for the home.

There are many things to take into consideration when we manage money for the home and allocate the appropriate budgeting of our salaries to prevent ourselves from having credits, and on a worse case scenario go into bankruptcy. This also happens even with a combined salary of each parent. Such end point would be damaging to the self esteem and living conditions of each member of the family.

Before we get into such confusion and inconvenient status, here are some of the basic things that we need to allocate tight and properly allocated budgeting, given that responsibility and the number of kids have been taken into consideration.

The House

One of the most important things to consider in allocation of budget would be the house. Mortgages and taxes that come along with the acquisition of a house would have the greatest impact in a family budgeting scheme as it would be the basis of living. Without a proper house to dwell in and a home to thrive in, each member of a family would have the trouble to set up the other factors for managing money for a home setting.

Even with non-owned dwellings such as apartments, condominiums, and the like would require an added burden on the budget scheme as the rates of the homes being rented would vary depending on the landowners’ preference. This factor would require one of the top priorities for budgeting besides food.


Food is one of the essential things for human existence besides air and water. Without it, we cannot function properly for long and we would definitely expire. Food is not free like air and perhaps water in some cases, and definitely would have to be given allocation in the budgeting in a home setting. Even if food calls for the most urgent attention for compliance, it does not require as much financial allocation to meet the least requirement as compared to a house. Furthermore, food is abundantly available as compared to a house or dwelling location.


Utilities are the different services that the home enjoys for a more efficient and convenient living. These include water, electrical, gas, and heat services, with the last two being applicable to more modern communities located in the colder regions.These are almost as necessary as the essential needs as they are already part of the living conditions of a home.

Being conscious about the things to be considered to manage money for the home is very crucial in attaining further goals in family existence, and being able to provide the necessary things in which the family would thrive and prosper. Without responsible budgeting, chances are that credits and bills would amount to drastic amounts which could damage the harmony of each
member’s living.

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