Only 25 years ago, today’s ubiquitous use of “universal” bank credit cards might have seemed a futurist fantasy. Prior to the finance regulation of the financial services industry in 1980, banks made consumer loans as “installment” credit. Loan approval was based on an assessment of the applicants’ household income, personal assets, credit repayment history, and outstanding debt. Preferred clients had financial collateral and repaid their loans (pre approved auto loan) on a fixed time schedule. Similarly, financial companies and banks cautiously issued charge cards and revolving credit cards to low-risk clients, primarily upper- and some middle-income households, who used them for convenience or for business. (more…)

You can keep your financial documents in different places—in a home file, in a safe-deposit box, or on a computer. To organize your documents as effectively as possible, you may want to use all three. Each method has advantages and disadvantages, depending on the types of documents being kept.

A home file is one place to keep financial documents. (more…)

If you have a bad credit score or bad credit personal loan, and it’s accurate, you need to know exactly when the items that are triggering it legally must be removed. Then, it’s up to you to make certain the consumer reporting agency removes them. (more…)

You should keep important documents such as car titles and mortgage loan papers locked away in a safe-deposit box—a small, secure storage compartment that you can rent in a bank, usually for $100 a year or less. Other items commonly kept in safe-deposit boxes include rental agreements, birth certificates, adoption papers, a list of insurance policies, stock certificates, and valuable collectibles, such as coins or stamps. (more…)

Almost all of us are aware with credit scores and what it affect your personal financial planning. But not all are really know how FICO score is calculated. The first thing is to interpret FICO score is to realize that there are many FICO score factors to mark your final credit score. (more…)

For purposes of budget income forecasting, figure all sources of your income on a monthly basis. Then, forecast your average monthly income over the next year by completing the worksheets shown bellow. (more…)

Banking and checking account may be a confusing thing for you, since so many different banks offer wide range of alternative checking account.

Please note that not all banking checking accounts are the same accounts, everything depends on what you really want to do with them and their needs. (more…)

Too often people talk about their feeling that their credit score has been noticed and market by credit bureaus. This is not true that credit bureau doesn’t give them low credit score just to make their life more difficult. Credit bureau is not biased to certain kind of people. (more…)

Why should you keep your financial documents in a specific place?

You can use computers for the purpose of financial record keeping documents. To organize your documents as effectively as possible, you may want to use others like home file and safe-deposit box. Each method has advantages and disadvantages, depending on the types of documents being kept. (more…)

Assets are things of value, because it can be exchange into cash. Your assets include real estate property you personally own and some of your financial investment. On the other hands you have debts as your liabilities. For this case, your home is your asset, but the mortgage of your home is your liability.

Assets include real estate, personal property and all your financial assets. (more…)