The preliminary final plans of the Rite-Aid relocation project in downtown Stroudsburg has advanced to borough council. The council will be gauging the proposed project — which entails the current borough Rite-Aid pharmacy moving from the Monroe Plaza next to ShopRite, to a newly-constructed location on lower Main Street — at its meeting next week. Preliminary plans were unanimously approved by the borough planning commission Monday night, with a [...]
Source Business - poconorecord.com http://ift.tt/2kR5DCk
الثلاثاء، 14 فبراير 2017
This Study Says 72% of People Won’t Marry Someone With a Bad Credit Score
Disclosure: This post includes an affiliate link. We’re letting you know because it’s what Honest Abe would do. After all, he is on our favorite coin.
How important is it that your significant other has a good credit score or is savvy with money?
It’s no secret that roughly half of U.S. marriages end in divorce, and money is commonly cited as the cause for the split.
With this in mind, Credit Sesame polled 2,000 consumers with the goal of finding out whether a bad credit score could be a deal-breaker when it comes to a serious relationship. We posed a single question:
Would you marry or live with a significant other whose credit score is extremely low — and has no interest in improving it? It might even be worth checking yours…
Love and Credit Scores
The question conveyed an extreme situation: a partner who not only has a low credit score, but also has no intention of working towards improving it.
Could love conquer bad debt management habits, tough financial situations, unwillingness to improve one’s financial future, or all of the above?
- For more than a quarter of survey respondents, 26% actually said yes!
- While the vast majority of people – 72% – seem to draw a line at an extremely low score (and no interest in improving it), it’s still quite a shock to see that 1 in 5 people are actually OK with that.
Let’s see how results break down based on people’s gender, age, income and where they live.
Are Men More Forgiving Than Women?
When it comes to how men view the situation compared with women, it seems men are somewhat more accepting of a low credit score than women:
- 29% of male respondents answered yes and 69% said no
- 24% of women said yes, while 73% said no
One possible reason men may be more forgiving than women is because they make more money. A higher income may correlated with viewing oneself as the potential breadwinner in the family.
Perhaps men think their partner’s credit score wouldn’t really impact the couple’s finances. This might be the case if all financial accounts are kept completely separate.
However, if they ever plan on applying for a mortgage, car loan, or any other secured or unsecured debt together, both applicants’ credit scores will impact the loan’s interest rate, and whether they’re approved for the loan.
Wealth — or the Lack thereof — Makes a Difference
When we look at the survey respondents by income, it appears those who either earn a lot (over $150,000) or very little ($24,000 or less) seem most willing to compromise bad credit for love.
More than a third of those earning more than $150,000 are willing to marry or live with a partner with bad credit, as well as 31% of those who earn $24,999 or less each year.
Wiser With Age?
Either older generations know something or they’re simply wiser when it comes to money.
Older people are more likely to say no to marriage or cohabitation with a credit “loser” than young people.
Here are the results:
- 62% of respondents 25 to 34 years old
- 78% of respondents 55 years or older
- 34% of those aged 25 to 34 said yes to being with a mate with a low score, along with…
- 20% for those aged 55+
‘Sad reason for basing a marriage decision’
Whether bad credit could be a marriage deal-breaker is a question that seemed to elicit firm yes or no reactions.
Only 2% of respondents selected “Other” for their answer — and we required a text-based explanation if they selected it.
The most common reason why was “Maybe” — indeed, it can be a complicated issue.
However, one answer stood out: “Sad reason for basing a marriage decision.”
Is that really so? Considering study after study finds money to be the leading cause of stress in a relationship, it might be worth taking finances more seriously before heading to the altar.
Do you know your credit score? Here’s how to check it for free — along with some tips for improving it…
Your Turn: Would you marry or live with someone who has a bad credit score?
This content originally appeared on CreditSesame.com.
The post This Study Says 72% of People Won’t Marry Someone With a Bad Credit Score appeared first on The Penny Hoarder.
source The Penny Hoarder http://ift.tt/2lNBwJL
Why the 2017 Tax Deadline Was Moved to April 18
Why the 2017 Tax Deadline Was Moved to April 18
Source CBNNews.com http://ift.tt/2lI1Adg
Source CBNNews.com http://ift.tt/2lI1Adg
5 Expert Landscaping Tips for Maintaining a Gorgeous Yard on a Budget
Keeping a lawn or garden green and growing isn’t as simple as splashing a little water on the grass once in a while.
Dedicated home landscapers often find themselves laying down weed covers, mulching, watering, aerating and fertilizing lawns and paying for supplies in addition to expertise and labor. Professional lawn care can cost $100-$200 per month.
But instead of shelling out $2,400 a year to keep their backyards looking great, these innovative home gardeners found their own tricks to keep plants lush and happy all year long.
Here are five pro tips for landscaping on a budget.
1. DIY as Much Landscaping as Possible
Ryan Willis has found doing everything himself when maintaining his 7,500-square-foot yard in Knoxville, Tennessee, is the best way to save money.
“The biggest cost savings for me is that I do everything myself — from mowing to seeding, fertilizing, planting flowers, hardscaping, etc.,” he says.
Willis administers three treatments to his lawn throughout the year. In early spring, he puts down seed and fertilizer. The tall fescue seed costs $75 and the starter fertilizer with weed preventer is $50, and he uses a broadcast spreader (a one-time $40 expense) to apply them to his lawn.
Early in the summer, he adds “weed and feed” fertilizer for about $30, followed by a fall fertilizer application to help roots during the winter (another $30).
In addition to fertilizing and other do-it-yourself treatments, GreenPal CEO Bryan Clayton finds another, more innovative way to save money: aerating shoes.
“A pair of aerating shoes cost[s] around $50,” he notes. “However, if you wear these while mowing your yard every week in the late summer and early spring, you can save up to $300” versus the cost of paying a professional service.
2. Consider Artificial Grass
While many enjoy the process of caring for living grass, others may prefer to skip most of the maintenance altogether and opt for artificial turf.
Despite the potential for long-term savings, installing an artificial lawn can be a significant upfront expense. The exact price depends on the amount of labor involved, which largely depends on the type of soil, rocks and roots in the area.
Purchase Green’s Chad Vander Veen says his company’s artificial grass is generally $1.50 to $3.50 per square foot, but “a typical installation, when looking across California and Nevada, will run between $6-$10/square foot,” including the necessary labor.
The national average to install artificial grass is anywhere between $5-$20 per square foot, according to home improvement site HouseLogic, depending on a number of factors.
Many homeowners find the low cost of maintenance over time appealing.
Vander Veen says once installed, artificial grass doesn’t require nearly as much maintenance as conventional grass.
Since artificial lawns don’t need mowing, he explains, you won’t have to pay for a mower or gas, not to mention fertilizer and pesticides.
One of the biggest savings is on water.
“A $200 per month water bill can be essentially cut in half by eliminating lawn irrigation,” Vander Veen says.
“Most homes in California use 50% of their water on irrigation. Over 20 years, the expected lifespan of a high-quality artificial grass, that can mean $24,000 in savings.”
However, artificial grass isn’t completely void of maintenance. Owners should rake their lawns once a month with a special broom (around $25).
Many also buy a bottle of cleaner to remove stains or pet messes from the lawn. Vander Veen says a gallon bottle, which costs about $40, can clean up to 6,000 square feet.
3. Choose Perennial Plants
When it comes to your garden and landscaping, plant perennials instead of annuals, suggests Anthony Smith, owner of Nursery Enterprises.
These hardier plants survive from year to year and can lead to a smaller plant bill since you won’t need to constantly replace them.
“To keep your yard looking sharp on the cheap, instead of continually replacing dead or worn-out annuals, consider switching to woody perennial plants, like bushes, shrubs, vines and trees,” Smith says.
“The pretty colored plants may look spectacular for a short time, but eventually, they will look just as spectacularly dreadful.”
4. Plant Edible Greenery
Jennifer Patterson Lorenzetti uses flowering herbs and a vegetable garden to keep her yard looking good while also providing a source of food.
She calculates she spends around $200-$250 per year on various costs, like plant starts and seeds.
However, the retail value of the produce she grows is around $750 per year, so her garden actually saves her about $500 annually.
5. Buy Mulch in Bulk
Spending money on unnecessary supplies is one common way to overspend when you’re landscaping on a budget.
Buying more than you need — or not enough, which requires extra trips to the store and/or shipping expenses — can rack up your bill.
Kurt Heckman’s company, vCalc, sought to find a solution to this common dilemma. The company created an online calculator to help people figure out just how much mulch they’ll need.
At most home improvement stores, bags of mulch cost about $3.33 each for 2 cubic feet, according to Heckman. He says bulk mulch is less expensive at $35 per cubic yard.
“That’s comparable to $1.54 for a 2-cubic-foot bag, or a little less than half price,” Heckman notes.
He also says some jurisdictions require bulk loads of mulch be covered in the back of trucks driving down the road, so be sure to throw a tarp on top to avoid a costly ticket.
Finally, Heckman recommends making your own mulch by turning fallen wood into wood chips.
“This is noisy and can be dangerous, but it’s also the cheapest source of mulch,” he says.
“For $66 and a little gas, say $70 total, you can make several cubic yards (6) of mulch in four hours and eliminate yard debris while you’re at it. That’s half the price of bulk mulch.”
Your Turn: What are your best tips for landscaping on a budget?
Kristen Pope is a freelance writer and editor in Jackson Hole, Wyoming.
The post 5 Expert Landscaping Tips for Maintaining a Gorgeous Yard on a Budget appeared first on The Penny Hoarder.
source The Penny Hoarder http://ift.tt/2lgPPcP
How to Buy Perfectly Ripe Fruits and Vegetables, Every Time
It’s a familiar scenario: You’re standing in the produce section at the grocery store, assessing a plethora of produce, trying to remember how the heck you’re supposed to tell if it’s ripe.
You glance around and see someone who looks like they know what they’re doing knocking on a few melons, trying and ditching a few before decisively placing one in their cart.
But what are you supposed to hear? Why is that one kind of yellow-ish and that other one more green?
Why did you even go grocery shopping in the first place?
How to Pick the Best Fresh Fruits and Vegetables
When it comes to produce, some culprits are obviously more ripe than others.
But buying food that’s ripe enough (or still needs some time, depending on your plans) can have a major effect on how much food — and money — you waste.
If your lettuce goes brown and gooey overnight, you won’t get the chance to eat it. And if your peaches are underripe, you may forget them in your fruit bowl while you’re waiting, only to discover a mushy mess days later.
So to keep you from a sticky situation — and maximize your grocery budget — we created this list of what to look for in 12 fruits and vegetables to ensure peak ripeness (or a little bit of time to wait) so you’ll actually save money on groceries.
Apples
Although it’s pretty obvious when an apple’s bad, some of the key markers of ripeness (and overripeness) apply across a variety of fruits — so bear all this in mind every time you hit the grocery store.
You’re looking for a firm apple that fully displays the color appropriate for its variety and feels heavy for its size — the heavier, the juicier and riper the flesh.
It’s also helpful to look for intact stems: They help a fruit stay healthy and keep it from drying out.
On the other hand, you’ll want to avoid obvious bruises and blemishes, which can quickly turn a good piece of fruit to rot.
The best thing about apples? Once you do find a ripe one, just stick it in the fridge — it’ll last way longer than you think. It could be up to six months before it starts to turn rubbery, and even then, you could probably use it in applesauce or pie filling.
Avocados
There’s nothing worse than looking forward to a delicious, creamy avocado — only to be greeted by a mess of brown mush once you cut into it.
Fortunately, there’s a super-easy way to figure out if avocados are ripe or not: Flick off the little stem bud. If the circle underneath is bright green, your avocado is ripe or close to it. If it’s brown, steer clear — that one’s already turned.
Another secret: If you buy rock-hard, unripe avocados, they’ll ripen in a few days if you leave them on the counter, and even quicker if you put them in a brown bag.
Once they’re right where you want them — tender but not too soft to the touch and just turning from green to brown — stick ‘em in the fridge to keep them from ripening any further.
Or, who am I kidding? Cut them open and turn them into guac, post haste.
Bananas
So, again, maybe this one’s obvious.
Bananas have something like a stoplight system, except green means “Stop (I’m not ready yet)!”
Yellow is green in this analogy, since it means go…
Which means maybe this is not an appropriate metaphor for bananas.
Anyway.
You probably know yellow bananas are awesome, green ones are firm and less sweet and brown ones fall somewhere on the mush spectrum from “edible, but kind of like baby food” to “totally rotten.”
But if you purchase your bananas early, you can let them develop to exactly where you like ‘em. And at the first sign of brown spots, just throw them in the freezer — they make a perfect base for smoothies.
You can even make healthy one-ingredient ice cream!
Berries
How many times have you taken home a package of fresh berries just to have it turn into a petri dish of mold in a day or two?
Unfortunately, berries naturally don’t last long — although it’s not hard to scarf them down by the handful, especially during these summer months.
But if you want to pick the best contenders, make sure the berries and their packaging are dry. Moisture speeds the growth of mold.
Psst — do yourself one better by running those babies through a vinegar bath!
I know it sounds nuts, but if you rinse them well, they won’t taste like vinegar. This tactic will kill the spores that grow so quickly into mold, giving you more time to enjoy your natural candy.
Broccoli
Fresh broccoli is green. As it matures, it turns yellow… but not always because it’s rotting.
The green clusters on the crown of the broccoli we eat are actually flowers, and when they open they’re — you guessed it — yellow!
So if you want to eat your broccoli rather than decorate with it, the buds on the head should be tight, closed and green. Check the cut stem as well — it should be firm and green, not slimy or turning funny colors.
Citrus Fruits
As a Florida girl, I know all citrus starts out green — I’ve seen enough of it on the tree.
The best indicator for a ripe piece of citrus fruit is that it’s fully developed its color. If your orange still has green spots, you’re in trouble: Unlike other fruits, citrus doesn’t continue to ripen once it’s been plucked from the tree, so you’ve got to get it right the first time.
You’ll also want to make sure the skin is as smooth as can be expected of these dimpled fruits — if it’s withered or wrinkled, the fruit is past its prime.
Hardness usually means underripe citrus, although I’ve seen fruits get small and rock-hard (instead of soft and oozing mold) after sitting out too long. Eat them at the top of the bell curve, when they’re plump and slightly pliable, but still firm to the touch.
Corn
If you buy pre-packaged corn cobs that have already been shucked, you’ll have a pretty good picture of how good it is: Just make sure it’s got as many of its kernels as possible, is firm but not rock-solid and that nothing looks rotten.
Husked corn is fresher and yummier — but also more difficult to check.
Luckily, there are ways around this without standing in the produce aisle shucking a bunch of corn. Not only would it not be fun, but you might get funny looks… and you’d be sure to bum out whoever’s on the other end of that “Cleanup on aisle five!” announcement.
If your corn is still in the husk, check out the husk itself. It should be green, and wrapped tightly to kernels that still feel firm and plump beneath. The tassels at the top should be brown and sticky to the touch.
If the husk has gone brown or the tassels are dry and black, you’re looking at an old ear of corn, so skip it.
Lettuce and Other Leafy Greens
If you’re lazy like me and buy pre-packaged lettuce, you have the benefit of an expiration date… but I’ve watched leaves go brown and slimy way before their time, even while hermetically sealed.
Lettuce of any variety should be turgid, green and dry, without conspicuous brown spots. Give a head of iceberg a squeeze — it should feel firm and juicy, and its outer leaves shouldn’t be sloughing off.
Most leafy greens have a pretty short shelf life (a week, tops). So get to eating those greens! After all, they’re good for you.
Melons
Melons are the most confusing fruit ever. All their goodness is trapped inside their great big shell, unavailable to assess for ripeness.
What to do about it? Make like a detective and rely on the clues you can access.
If you’ve ever seen anyone knocking on a melon, you may be wondering what exactly they expect to hear. Me, too.
And though melon-knockers may seem decisive, and their touch full of finesse, the metrics for a “ripe-sounding” melon are pretty vague: The New York Times suggests you “listen for a melon that sounds full and more like a tenor than a bass.”
Since I wasn’t in my high school band, I think I’ll pick a different way to check.
With watermelon, specifically, you have a major advantage: Water is heavy. So if you pick up one up, it should weigh quite a bit in proportion to its size if it’s ripe and full of water.
While you’ve got it lifted, give it a turn and check its “field spot” — the discolored portion where the melon sat on the ground before it was harvested.
According to the watermelon experts (yes, they exist — see for yourself), this spot should be a “creamy yellow.” If it’s white or greenish, the melon might not be quite ready to eat, but it’ll be great if you’re shopping ahead of time for this weekend’s barbecue!
Honeydew and cantaloupe are a little less mysterious since their rinds aren’t so thick. Like all other fruit, they should be as symmetrical and bruise-free as possible.
Give ‘em a whiff and a squeeze, too: When they’re fully ripe, both of these melons will smell sweet, even through their skin, and they’ll give just a little bit under your fingers.
If you want your melons to hang around for a bit before you eat them, consider going for a scent-free, rock-hard specimen. Just don’t wait too long!
Peaches
Although firmness is a good indicator for selecting a peach, if it’s too firm, it’s going to taste like nothing at all.
And odds are, this is how you’ll find them at the grocery store, since shipping can be a rough process and ripe peaches bruise easily.
As with other fruits that produce ethylene gas while they mature (like avocados, apples and tomatoes), you can hasten ripening by placing a peach in a brown bag on your counter.
Peaches are ripe once they smell sweet and are soft (but not too soft!) to the touch. They’re also more yellow than red — that color is more indicative of sun exposure than ripeness.
Pineapples
It might seem like a prickly mess to figure out whether a pineapple is ripe. Just looking at one, you may wonder what brave soul first decided we should try to eat these.
And apparently, even the best advice for finding a ripe one seems, well, a little dicey:
Although it’s hilarious, smelling the “butt,” or underside, of the pineapple is probably fine advice: If the fruit is ripe, it’ll smell sweet, but it’ll be less detectable behind the hard, spiky skin around its sides.
A perfectly ripe pineapple will also give ever-so-slightly when firmly squeezed. Pick a hard one at the grocery store so you can keep it as a sign of welcome on your counter for a few days.
Squash
Squash is to vegetables what melon is to fruit: encased in a big, hard shell and pretty hard (literally) to crack.
Your best bet is to squeeze gently and check for good weight. The skin should be matte, not shiny, and free of obvious blemishes.
One good shortcut? Buy it in late summer and early fall — when you know it’s in season.
Want to Save Money on Groceries?
No matter what kind of produce you buy — or even if you live on ramen and Coke — you can save a ton of money at the grocery store if you just know how.
Here are some simple ways to get started.
Want to try couponing, but don’t know how? These coupon organization systems will help you get situated, even if you’re a veteran.
Of course, you’re gonna need the actual coupons themselves. Here are 100 places to find them, absolutely free of charge.
If couponing isn’t your thing, you still have options.
Try these ridiculous — but effective — ways to save money on your grocery purchase. Optimize your shopping trip by figuring out which day of the week has the best deals at your store.
Or, turn up your grocery game by getting paid to do it by delivering for Shipt.
Happy shopping!
Your Turn: What’s your favorite fruit or vegetable, and how do you tell if it’s ripe?
Jamie Cattanach is a staff writer at The Penny Hoarder. Her writing has also been featured at Word Riot, DMQ Review, Hinchas de Poesia and elsewhere. Find @JamieCattanach on Twitter to wave hello..
The post How to Buy Perfectly Ripe Fruits and Vegetables, Every Time appeared first on The Penny Hoarder.
source The Penny Hoarder http://ift.tt/2ldKjb8
This Smart Decision is Helping This Family Save an Extra $3,600/Year
Kristin Worthington never thought she’d own a home — at least not by the age of 30.
But she’s doing it.
Less than two years ago, she lived in a two-bedroom, 900-square-foot apartment with her husband and toddler.
“It was like a closet,” she recalls.
The trio desperately needed an upgrade, but as Worthington and her family began looking for three-bedroom rentals in The Woodlands, Texas, costs skyrocketed.
With a price cap of $2,500 a month, their search felt futile.
That’s when they started to consider purchasing a home — and they did.
And a year after actually buying a home, the small family saved even more by refinancing their mortgage.
How Did Mortgage Refinancing Put More Money in This Family’s Pocket?
Here’s how it works:
The family’s initial mortgage interest rate hovered around 4%. Refinancing allowed them to take out a new loan at a lower interest rate.
Refinancing dropped the couple’s interest rate from 4% to 3.75%, which Worthington says saves them between $200 and $300 each month.
Finding the Best Company to Refinance a Mortgage
Deciding to refinance wasn’t the hardest decision they had to make; it was finding a company that was a good fit for their financial situation.
First, Worthington tried a site that compares a host of lenders. She said she submitted her information around 11 p.m. The next morning she says she received about 20 phone calls from lenders.
Worthington gave up after the first two when she realized the representatives didn’t even know the answers to her basic questions.
She tried another site — supposedly a “new, up-and-coming, sexy product,” Worthington describes.
But it wasn’t.
She said the site asked for all her basic information — great. But then it required her to upload a lot of documents.
Some documents, she understood, but others seemed so far-fetched — like links to her investment and retirements accounts, accounts that weren’t so easy to access.
Finally, she completed the tasks and clicked “upload.”
Error.
She did it again and was told to call customer service. She received no response from the other side.
Exasperated, she returned to the company she took the initial mortgage out with: SoFi.
Worthington had heard about SoFi from a colleague who’d used it to refinance student loans and decided to use the company for their initial mortgage.
They had gone with a 30-year fixed mortgage, which offered a 10% down payment. Most companies start at 20% and require more money upfront. There also wasn’t a sneaky private mortgage insurance (PMI) charge, which can add a huge chunk to monthly costs.
So returning to SoFi to refinance was an easy decision.
The process remained upfront and simple. The initial process, she says, took no more than 10 minutes. Worthington uploaded documents, like her two most recent W-2s and a recent paystub, all of which she felt were relevant.
“Let me tell you, it’s way better than buying a car,” Worthington says, laughing.
A month later, the refinancing process was complete.
How a Mortgage and Refinancing Changed This Family’s Finances
Because of their refinanced mortgage, this family saves an extra $300 each month.
Each month, the family drops the extra savings into a retirement fund and invests for the future.
Of course, the extra money is nice, but Worthington said there’s so many more upsides to owning a home.
“It’s knowing that when you go home, it’s yours,” she said. “It’s something you feel proud of. It’s that moment knowing I can raise my kid in the exact same house and knowing I’m not going to have to move in, say, two years.
“It’s having a level of stability.”
Your Turn: Have you saved money taking out a mortgage versus renting?
Sponsorship Disclosure: A huge thanks to SoFi for working with us to bring you this content. It’s rare that we have the opportunity to share something so awesome and get paid for it! Note: the interviewee is related to a SoFi employee.
Licensed by the Department of Business Oversight under the California Finance Lender Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp., NMLS #1121636. Terms and Conditions apply see SoFi.com/legal for details. Mortgages are not available in all states. See the SoFi eligibility list. http://ift.tt/2kn7Zu8.
SoFi Lending Corp, 1 Letterman Drive, Building A, Suite 4700, San Francisco, Ca 94129
Carson Kohler (@CarsonKohler) is a junior writer at The Penny Hoarder. After recently completing graduate school, she focuses on saving money — and surviving the move back in with her parents.
The post This Smart Decision is Helping This Family Save an Extra $3,600/Year appeared first on The Penny Hoarder.
source The Penny Hoarder http://ift.tt/2kncN2t
Immortalize Your Incredible Valentine’s Day With This Shutterfly Freebie
Take a million adorable selfies with your Valentine? Don’t let them linger on your camera — print ‘em out!
Whether you want to make a do-it-yourself scrapbook of all your smoochy moments or have the pros bind a photo book for you, now’s your chance to immortalize those lovey-dovey moments for free (or close to it).
Shutterfly is celebrating Valentine’s Day with a “Be Ours” sale through Wednesday, Feb. 15.
Use promo code 15OFF to receive $15 off an order of at least $15 at checkout.
Shutterfly will apply the freebie before any percentage-off promos you use alongside it; you still must pay shipping and any taxes.
Photo books start at $15.99, and prints start at 15 cents each. You can even order prints for pickup at Walgreens, CVS or Target if you need a rush order for a belated Valentine’s Day gift!
Don’t Forget This Extra Shutterfly Freebie
If you don’t already have a Shutterfly login, it’s time to just do it: You’ll earn 50 free 4-by-6-inch prints, a free magnet and a free set of address labels. Your offer for 50 free prints lasts for 30 days from the date you sign up, so you can take time to curate the perfect collection of photos from your camera or phone.
One more reason to love Shutterfly (which I swear doesn’t sponsor this website, but… call me, Shutterfly): The company catalogs all its promotions and discounts on one easy-to-navigate page.
And don’t forget — shop through Ebates and get 2% cash back.
Your Turn: Do you still buy photo prints, or are you a digital collector?
Lisa Rowan is a writer and producer at The Penny Hoarder.
The post Immortalize Your Incredible Valentine’s Day With This Shutterfly Freebie appeared first on The Penny Hoarder.
source The Penny Hoarder http://ift.tt/2lM0v0Q
Know Your Town Better Than Anyone? Yelp is Hiring Ambassadors in 7 Cities
Whoa, just came across a super fun job for anyone who loves their hometown!
Yelp is looking for community and community expansion ambassadors in seven cities across the country.
You’ll work flexible hours in this part-time role, hosting events and acting as the voice of Yelp in your community.
If that sounds like your dream job, keep reading…
How to Become a Yelp Community Ambassador
Want to rep Yelp in your ’hood?
The massively popular online review company is hiring in seven cities and areas: Columbia, South Carolina; Kalamazoo, Michigan; Iowa City, Iowa; Springfield, Missouri; central New Jersey; Galveston County, Texas; and San Gabriel Valley, California.
If you live in (and love!) one of the above locations and are a go-to person for restaurant and activity recommendations, then this job might be for you.
As a community and community expansion ambassador, you’ll host events, partner with local organizations and act as the voice of Yelp in your local community.
You’ll need to be a “social connector” who’s “passionate about event planning, social networking, guerrilla marketing and PR.” You also need excellent writing and time-management skills.
The program lasts for one year, during which you’ll work 10-15 hours per week from anywhere with a Wi-Fi connection (within your city’s limits). You must be over age 21 and also have reliable transportation.
To apply, find your city’s listing on the company’s career page, and submit a cover letter, resume and link to your Yelp profile.
For social butterflies, I can’t think of a better job. Honestly, I’m sad there aren’t any openings in St. Petersburg, Florida!
Your Turn: Have you considered any Yelp careers?
Susan Shain is always seeking adventure on a budget. Visit her blog at susanshain.com, or say hi on Twitter @susan_shain.
The post Know Your Town Better Than Anyone? Yelp is Hiring Ambassadors in 7 Cities appeared first on The Penny Hoarder.
source The Penny Hoarder http://ift.tt/2kGqINb
Savings update: cash Isa rates improve despite NS&I blow
Savers suffered another blow last week when National Savings & Investments announced it will cut its rates from 1 May.
Source Moneywise http://ift.tt/2lfQrPK
How to Become ‘The Millionaire Next Door’
One of the most influential books I’ve ever read in terms of shaping my thoughts on personal finance and helping me figure out what to do. This is one of a few books I read at my financial low point, along with Your Money or Your Life and The Total Money Makeover, that really helped me figure out a new direction with my money and my overall life.
So, what exactly is The Millionaire Next Door about? I like the summary I wrote in my detailed overview of the book from a few years back:
The Millionaire Next Door is a book written by Thomas Stanley and William Danko in which the authors did an extensive study of true millionaires in the United States – people with a verifiable net worth of $1 million or more – and used the results of that study to draw some general conclusions on what it truly takes to build financial success.
And what were those general conclusions? Here’s how I summarize them:
First, people who accumulate wealth are usually quite frugal and rarely flaunt their wealth; people who flaunt their wealth rarely have much in the bank. For the most part, people with actual money in the bank are frugal people; people who aren’t frugal are usually scraping bottom.
Second, one of the best ways to accumulate significant wealth is through self-employment and entrepreneurship. In many ways, The Millionaire Next Door was a big initiator of my career shift into self-employment. It really made me think seriously about how I could start working for myself and enjoy a lot of personal flexibility along the way.
Finally, financial success comes not just from money management, but from how you live your life as a whole. Your relationship with your wife and children is vital. Your relationship with friends and coworkers is also vital. Your ability to set personal goals is also vital. The car you drive, the neighborhood you live in … the list goes on and on. All of these things (and many other elements of life) are intimately connected to your ability to accumulate wealth.
Those are really valuable conclusions that line up well with my own experiences over the last decade, in which I’ve changed careers and completely rebooted many aspects of my life.
The question, though, isn’t whether those conclusions happen to line up with someone’s life, but how exactly can you put those ideas into action in your life.
In other words, what action steps can you start taking today to become a “millionaire next door”?
The rest of this article focuses on specific actions you can take on today and new habits you can start working on right now in order to get your life in line to become a prodigious accumulator of wealth as laid out in that book.
Be Frugal
Let’s be clear here: frugal does not mean being an ultra-cheapskate. Instead, the word points you to three distinct behaviors.
First, don’t spend your money on things that don’t provide lasting value to you. If something doesn’t provide lasting value to you, don’t spend more than the minimum on it. For example, most meals are completely ordinary and forgettable, so spend the minimum on those meals. Splurge on occasional meals that are meant to be memorable ones. In other words, eat very simple home-prepared meals most of the time and when you do choose to go out for a special occasion, go out somewhere genuinely nice and memorable.
Second, when you decide to buy something, focus on reliability and ease of use. If you’re buying something you’re going to frequently use, spend the time to do homework on that item and find the version of it that’s going to last for a very long time and not need regular replacement. Find the version that meets your needs – extra bells and whistles rarely meet your needs, so disregard them (I actually view lots of extra features as a drawback as they usually mean extra points of failure that I don’t need).
Finally, don’t spend money just because you have it. These strategies don’t go flying out the window just because there happens to be cash in your checking account. Put that money aside for retirement or for other big life goals or for big expenses you know are coming down the road, like a car replacement. This goes back to not spending your money on things that don’t provide lasting value.
Don’t Flaunt Your Wealth
This is actually just a simple way of stating a number of different principles.
For starters, stop worrying about what other people think. The honest truth is that other people don’t think about you nearly as much as you think that they do; this is called the “spotlight effect.” Often, when you are considered, it’s your character or personal habits or skills that are thought about, not the stuff that you own or the way you present yourself. Present yourself in a simple, clean way. Don’t buy anything to impress others.
Similarly, people who flaunt wealth often become a target. Expensive cars often get targeted by thieves. People wearing expensive clothes or jewelry get targeted by robberies. Scammers will target you, too. The people you want to impress with flaunting wealth often don’t notice; the people who you don’t want to attract end up noticing you.
Finally, money spent on flaunting wealth or trying to impress others rarely means anything for you. In the end, it’s you that’s alone in bed at night (or next to your partner). It’s you that’s the only person in your own heart and your own mind. Stuff spent impressing others doesn’t do anything at all to help the quality of your day to day life or the security and happiness and depth of your own thoughts and internal life. In other words, flaunting your wealth brings virtually no lasting joy and generally only brings problems.
Look for Routes to Self-Employment and Entrepreneurship
Most people who end up becoming wealthy pillars of the community often find that route through entrepreneurship and self-employment. They don’t burn the best years of their life making money for others. They seek out ways to make that profit for themselves. Here are three strategies to follow that path.
First, be a lifelong learner. You should make time each and every day to learn something new and truly challenge your mind. It doesn’t necessarily have to be pointing toward your next career step, as part of the advantage of lifelong learning is ensuring that your ability to learn remains razor sharp and that you’re adding to your overall body of knowledge and skills. This should be daily practice.
Second, start some side gigs and see what takes root.. Start a side business that seems interesting, whatever that might be. Everyone’s interests are different. Just make sure that you can identify a path to profitability, and don’t worry about investing a lot of hours in it initially. The best side gigs, in my experience, involve investing a lot of up-front time with little return, but little up-front cost, too. Look for things where you enjoy that up-front time.
Finally, get your financial foundation as strong as possible so you can make the leap sooner rather than later. Make good basic financial moves. Spend less than you earn. Pay down your debts. Save for retirement. Use that surplus you have from living frugally to build a strong financial platform that gives you the freedom to make bold choices with your side gigs and independent professional life.
Build Strong Family Relationships
Many “millionaires next door” rely on strong family bonds to help them in challenging times and to provide constant support and nurturing. Here are some strategies for building that in your own life.
Put aside regular focused time for your family with minimal distractions. If you’re married and especially if you have children, block off uninterruptible times on your calendar to spend with those core people. Turn off distractions (like your cell phone) and focus on those people in the moment. If you’re single, call some of the relatives that you care about and focus on that conversation. Pay lots of visits, too.
Listen to them and participate in what they care about. If you’re not sure what to do, ask questions and listen to the answers. See what you can learn about the person you’re talking with. Don’t just think of the next thing to say about yourself. Even better, if you get a chance, participate in something they care about. Play your son’s favorite computer game, even if he thrashes you at it. Ask your daughter for a tae kwon do lesson. Go to bingo night with your grandma.
Take responsibility when you make a mistake. You’re not perfect. You’re going to mess up. Maybe you’re angry at some time when you shouldn’t be. Don’t blame others. Admit when you messed up and admit it to the people who you hurt with your mistakes. Point to your own failings and don’t throw blame at others. Blaming others is the easy, lazy route. Then, strive to take action to fix that part of you that caused the mistake.
Build Strong Professional Relationships
Much as with families, a strong career is built on the back of good relationships. Strong professional connections can help you even when you switch to self-employment and can help you move back to your older career if new initiatives don’t work out.
Cultivate real connections and give help when you can multiply value. Take the opportunity to meet lots of people in your field, but make those connections real. Don’t just collect business cards. Follow up. Write down social media and other methods of contact along with a good reason to follow up. Then, pay attention to what they’re saying. Touch base regularly. When you see an opportunity to help, do so, especially when it’s as easy as connecting two people together or helping to connect someone to a resource they need. When you help other people increase their value, you become more valuable.
Take responsibility when you make a mistake. Much as with family situations, take responsibility when you mess up. Don’t blame others when you make a mistake. Don’t look for excuses. Step up, admit that you screwed up, and point solely at yourself. Beyond that, come up with a plan to improve yourself so that you don’t repeat the mistake.
Give lots of credit to everyone else for successes. On the other hand, when you’re successful, spread the credit around. When you give a presentation, take plenty of time to give credit to everyone who helped you and helped the project. When talking to supervisors, give positive credit to everyone who is a positive help in the workplace. Giving credit where it’s due never hurts you; it only helps you as it shows that you’re a team-oriented leader.
Build Strong Community Standing and Social Relationships
Another part of becoming “the millionaire next door” comes from building strong community ties and social relationships to boot. Again, these are relationships that support you when you’re down and boost you and bring comfort when times are good.
Take active steps to be involved in community groups. Don’t just sit at home thinking about how you’d like to be more involved. Turn off the television and get more involved. Look for civic groups to join; you can find many of them via your city’s website. Look for other community groups to be involved in via Meetup. Check out the offerings at the local library, too. Get involved in local politics if that’s your jam; check out town meetings and school board meetings and city council meetings. Get involved in a religious organization, too. Get yourself out there.
Step up to leadership roles. When there’s an opportunity to participate in a group that resonates with you, do it. When there’s an opportunity to lead, swallow your fears and do that, too. There is no better opportunity to build tons of great community relationships than when you step up to leadership in a community group.
Give without expectation of receiving. Civic organizations are the best place in the world to give of yourself without expectation of receiving, because you rarely get direct rewards for doing so. There are many rewards, of course, but they’re all indirect and they build slowly over time. So, when you dive in, expect to give without receiving anything in return and do it with your whole heart. Good things will return to you, often in ways you don’t expect.
Identify and Set Goals for Yourself
Another aspect of becoming the “millionaire next door” is in setting and achieving personal and professional goals of all kinds. It’s all about thinking of the future, deciding what you want, concocting a plan to get there, and then putting that plan into action.
Paint a picture of the life you (realistically) want for yourself in a year, five years, and ten years. What do you want for your life a year from now? Five years from now? Paint detailed pictures of those scenarios in your mind. Keep it realistic, but optimistic, especially in terms of achieving things that you control. Don’t rely on what others control.
Pull tangible goals out of those pictures. Figure out what you want most from those pictures, then identify specific clear goals that will bring you from where you are now to where you want to be. For example, if you picture yourself thinner, you may want to define a weight loss goal. If you picture yourself with a happier career, you may want to plot a goal of a different career or self-employment.
Identify and execute daily steps to achieve those goals. You should have a few big goals in mind. Now, what are you going to do today to make those goals happen? Ask yourself that question seriously each morning. Perhaps your weight loss goal is achieved by choosing a reasonable calorie target and counting calories. Maybe you are striving to change careers, so each day might involve self-directed learning and writing business plans.
Make Smart Choices for Your Biggest Purchases
A final but extremely important point that the book makes about the patterns of “millionaires next door” is that they’re careful and smart about their biggest purchases. This goes beyond just doing one’s homework about a purchase and also looks at the broader impact in one’s life. Here are three strategies to maximize that value.
Choose a modest place to live that’s close to a low-cost grocer. Don’t live in an overly large home, as they tend to have high utilities, high maintenance costs, high property taxes, and often involve expensive association fees. Instead, choose a modest home and instead consider location. Is it near a place where you can get inexpensive groceries? Can you easily access mass transit? Both will save you even more money by cutting down on grocery and transportation costs, and both will save you a lot of time as well.
Focus on buying late model used reliable cars and drive them until serious problems arise. The best “bang for the buck” when it comes to a car is to buy a late model used car (meaning one from a model year between two and five years earlier than the current year) from a reliable manufacturer (Honda and Toyota are two prime examples) and then driving it until it begins to show real problems, then replacing it. This strategy also centers around following the maintenance schedule to the letter to maximize the lifespan of the car. These steps will reduce the initial car acquisition cost and spread out the time between car purchases, enabling you to get the most value for your auto dollar.
Encourage getting a modest education and focus on maximizing value from it. The most cost effective way to invest in yourself and in your children is to get a reasonably priced education and then use that educational opportunity to squeeze out as much value as possible. Don’t shoot for a $50,000 a year college; instead, go to a much more modest school and use every second there as an opportunity to build lifelong relationships and jam in as many experiences and as much knowledge as possible.
Final Thoughts
If you use these principles and strategies as the bedrock of your life, then you’re going a long way toward building yourself into the exact kind of person described in The Millionaire Next Door.
These strategies aren’t a ticket to wealth. Instead, what they do is build your life into a large reservoir into which many great things can flow and be saved. Relationships. Opportunities. Professional income. Ideas. Investment returns.
Build that reservoir. Keep with it and make it strong. Give it time to fill. That’s the recipe for success.
The post How to Become ‘The Millionaire Next Door’ appeared first on The Simple Dollar.
Source The Simple Dollar http://ift.tt/2lfJK06
10 Times Convenience Isn’t Worth the Cost. Try These Alternatives Instead
If you frequently stop at the ATM for cash, then grab a cup of coffee at the gas station, you’re in good company.
More than 154,000 convenience stores in the U.S. serve an average of 160 million customers per day.
Why so many? Well, if you include the walk to and from your car, the average purchase takes just three to four minutes. Convenience stores are, well, convenient. And we like that.
We also like easy access to cash, which explains the 425,000 ATMs in the U.S.
Not surprisingly, sales of single-serve coffee pods and pre-sliced fruits are up.
And if it’s too inconvenient to go to the store for these convenience items? Try delivery. It’s no longer just for pizza; now, you can even have your socks delivered.
But what’s the cost of convenience? It’s $12 per pair for that sock subscription — about $10 more than this writer pays for his socks.
That’s just one example. Most “convenient” products and services come with higher price tags. Here are some items with the biggest convenience premium and some less expensive alternatives to consider.
1. ATM Fees
You like easy access to cash but use an out-of-network ATM? Stop!
Bankrate says that will cost you an average of $4.57 now, or 7.6% of the $60 average ATM withdrawal. Don’t you want to use 100% of your money, instead of 92.4% of it? Here are some better options.
Open an Account That Waives Fees
Some banks waive or refund ATM fees, even for out-of-network machines.
Get Cash at the Bank
Make it a point to stop at the bank monthly to load up on cash.
Get Cash Back at the Register
If you use a debit card when shopping, ask for cash back. You can do this with a Discover credit card, too.
Stop Using Cash
You might do better using a rewards credit card to pay.
2. Bottled Water at Convenience Stores
There is nothing like a drink of cold water on a hot day, but you might pay $1.50 or more for a 20-ounce bottle at a convenience store. That’s $9.60 per gallon. Business Insider reports that bottled water costs 300 to 2,000 times more than tap water.
And you may be getting tap water anyhow. Even Aquafina comes from a public water source. Here are some alternatives to overpriced tap water in a bottle.
Your Own Tap Water
Just fill a few bottles at home before you go out. Keep a cooler in the car if you’re traveling longer distances.
Filtered Tap Water
Depending on the filter you use, the cost per gallon can be as low as 11 cents.
Buy in Bulk
Bottled water goes on sale for as cheap as 10 cents per bottle, which works out to 64 cents per gallon.
3. Delivered Pizza
Eater found that Margherita pizza prices range from about $8.90 to $16 around the country — and that’s a pretty basic pizza. It also doesn’t take into account the cost of delivery and the necessary tip for the driver. Here are some alternatives.
Go Get it Yourself
Even if you spend a dollar on gas, you save the delivery charge and most of the tip (you can still leave something for the people working at the counter). Plus, some chains have pickup-only deals, like the current $7.99 large, three-topping pizza at Domino’s — a savings of 50% or so.
Buy Pizza at the Supermarket
All frozen pizzas are not created equal, but some come close to restaurant quality for about half the price.
Use Coupons and Gift Cards
It is not very convenient to go get your own pizza after digging up a coupon and buying a discounted gift card to pay for it, but savings-stacking techniques can cut the cost in half. The opposite of the cost of convenience is the savings of inconvenience.
4. Coffee at Coffee Shops
It now costs an average of $2.70 per cup for coffee at coffee shops. Maybe it’s worth it at times, but there are cheaper, if less convenient, ways to get coffee.
Try Fast Food Restaurant Coffee
McDonald’s recently lowered its coffee prices to $1 per cup, and fast-food restaurants in general are cheaper than coffee shops.
Stop at the Bank
Some banks keep coffee out for customers, so why not stop for a cup and get some cash while you’re there? You’ll save on both ATM fees and coffee.
Make It at Home
You can make coffee at home for about 16 cents per cup (less if you can tolerate generic and store brands). Bring it with you to work. Use a thermos if you’ll need it later in the day.
5. Prepared Fruits and Vegetables
It sounds like a great idea to have fruits and vegetables already sliced up for you. It is very convenient. But there are several reasons to avoid pre-cut fruits and veggies, and the biggest is the expense. According to CBS news, you’ll spend up to 392% more on pre-sliced produced than you would if you cut the items yourself. Here are some alternatives.
Buy Fruits That Don’t Need Preparation
If you really need the convenience but still want the health benefits of those fruits, eat those that require little or no preparation. Bananas and oranges, for example, are ready to peel and eat without cutting.
Buy Frozen Veggies
If you’re using vegetables for cooked meals, consider frozen varieties, which are ready-to-go and cheaper than pre-cut fresh ones.
Cut and Carry
Cut up a few days’ worth of fruits and veggies at home, and parcel them out into plastic bags or containers for convenient carrying to work or wherever.
6. Vending Machine Items
Nothing says convenience like a vending machine. No need to find a store or go home to eat — just push a few buttons. But you know you pay the price. Try one of the following instead.
Stop at the Grocery Store
Whether it’s a candy bar or a bag of chips, it will almost always cost less to buy it from a supermarket than a vending machine.
Buy in Bulk
If you really like the portion control that comes with those convenient little bags of chips and other snacks, buy them in bulk at a membership store like Costco or Sam’s Club. You can get the cost down to about 25 cents per bag.
Prepare Your Own Snacks
Fill sandwich bags with nuts, crackers and such at home, and carry them with you for when you need a snack fix. Besides being the least expensive of these options, it’s also a healthier snack option.
7. Fast Food at Convenience Stores
It’s tempting to grab one of those hot dogs or burritos on display under the heat lamps at the convenience store. But you never know how long they have been sitting there, and they cost too much for the quality you get. Instead, consider one of the following options.
Get Regular Fast Food
Fast-food restaurants usually have fresher food, and if you shop the value menu, it can be cheaper, too. (Try these fast-food menu hacks for additional savings.)
Buy and Microwave
If your convenience store offers the option to buy frozen burritos and other foods to microwave on-site, take advantage. It’s usually cheaper.
Eat Before You Leave Home
This is the least expensive way to go, and it’s probably the healthiest, too.
8. OTC Drugs at Convenience Stores
Medications, like almost everything else, cost more in convenience stores. You can prove this for yourself with a few quick comparisons.
What can you do to avoid those prices? Here are some suggestions.
Medicate Before You Leave Home
If you have a headache or a sniffle, take medicine before you leave the house so you won’t be tempted to pay convenience store prices.
Stop at the Dollar Store
You can decide for yourself which medicines at a dollar store are trustworthy, but simple ones like aspirin or cough drops are probably fine.
Go to the Grocery Store
Grocery stores with pharmacy sections have the lowest prices for many OTC medications.
Try a Pharmacy
The CVS and Walgreens stores you see on every other corner are cheaper than convenience stores, and they’re almost as convenient.
9. Soda From the Checkout Cooler
Have you noticed how expensive it is to buy a cold soda from those coolers near the checkout lanes in otherwise inexpensive grocery stores? Here are some alternatives.
Go Outside
Some supermarkets (Walmart, for example) sell cold soda near the registers for up to $1.50 and have cold soda for as little as 50 cents per can in machines in front of the building. You’re going to walk right past them anyhow, so save a buck.
Buy a Case
Buy soda on sale by the case, and chill it yourself. You’ll knock the price down to as little as 25 cents per can.
Drink Water
Water you bottled at home, of course. It’s cheaper and healthier.
10. Any Food or Drinks at Movie Theaters
Movies are expensive enough without succumbing to the convenience of eating and drinking the things sold at the theater. Some reports say more than half of moviegoers have snuck in food or drinks, which is one way to cut down that cost. Here are some others.
Watch for Specials
Some theaters have specials on concession foods and drinks on certain nights. Plan around those if you really need your theater popcorn fix.
Eat Before You Go
A healthy meal at a sit-down restaurant can cost less than two tubs of popcorn and two sodas at the theater. You can save even more if you eat at home.
Drink at the Water Fountain
Bottled water can be as much as $5 at theaters, even though most have water fountains. Enough said. Well, maybe not… It’s nice to have water with the movie, rather than out in the hall. And you aren’t technically breaking the rule if you bring an empty water bottle in your jacket pocket and fill it from that drinking fountain.
Sneak an empty plastic bottle into a theater? Yes, it’s kind of inconvenient, but once again: Sometimes the cost of convenience is overcome by the savings of inconvenience.
Your Turn: What do you do to avoid paying too much for convenience?
Steve Gillman is the author of “101 Weird Ways to Make Money” and creator of EveryWayToMakeMoney.com. He’s been a repo-man, walking-stick carver, search engine evaluator, house flipper, tram driver, process server, mock juror and roulette croupier, but of more than 100 ways he has made money, writing is his favorite (so far).
The post 10 Times Convenience Isn’t Worth the Cost. Try These Alternatives Instead appeared first on The Penny Hoarder.
source The Penny Hoarder http://ift.tt/2lFYK8z
Your ex-partner could damage your credit rating, Brits warned
Millions of people remain financially linked to their former partners, even after they have closed down any joint accounts.
Around 11.7 million people have taken out a financial product with a person they’ve later separated from, according to credit checking service ClearScore.
Source Moneywise http://ift.tt/2lFE2Wy
Inflation rises to highest rate since June 2014
Inflation rose to 1.8% in the year to January, up from 1.6% in the year to December – it’s the highest Consumer Prices Index (CPI) rate of inflation since June 2014.
Source Moneywise http://ift.tt/2lbiT5S
How Late Can I Make a Payment Before It Shows Up on My Credit Report?
One of the more commonly misunderstood and misreported aspects of credit reporting is exactly when a late payment will show up on your credit report. And, taking it one step further, when a late payment will potentially harm your credit scores.
Safe to say, it’s complicated — because of the voluntary nature of the credit reporting environment.
First, there is nothing in the Fair Credit Reporting Act that requires any lender or credit card issuer to report anything about your accounts to any of the credit bureaus. They instead report information to the credit bureaus voluntarily. That’s why you’ll see examples from time to time when your accounts either don’t appear on one of your credit reports or don’t appear on all three of your credit reports.
When it comes to late payments, however, there is a little more structure. If a lender chooses to report your late payments to the credit bureaus, they cannot do so until you are a full 30 days past the due date. In fact, there is no systemic method to report an account as being one to 29 days past due.
Because the entire reporting system is voluntary, there are many scenarios where lenders choose to not report late payments until you’re several months past due. I often see credit reports that show a long chronology of on-time payments, and then all of a sudden a record of being 90 days late, or more.
This is often misinterpreted as incorrect credit reporting — because you can’t be on time one month and then be 60, 90, 120, or more days past due the next month. But what you have there is an example of a lender cutting the borrower some slack and choosing not to report the ascending level of late payments until it hits a level where the account is several months delinquent.
What About My Credit Score?
You may have read or heard people make claims like, “one late payment cannot harm your credit scores,” or “you have to be two payments late before your scores take a hit.” Both statements are factually inaccurate.
One late payment can absolutely harm your credit scores, and considerably — if the lender chooses to report the late payment. What is true, however, is that a late payment won’t show up until you’re 30 days late or more.
When it comes to late payments, the format used by the credit reporting agencies looks like this:
- 30-59 days late
- 60-89 days late
- 90-119 days late
- 120-149 days late
- 150-179 days late
- 180+ days late
What’s missing from those reporting options? What’s missing is anything that allows for the reporting of a late payment that’s between one and 29 days past due. It simply doesn’t exist. And that’s the real reason being a couple of weeks late won’t harm your credit scores — because it cannot show up on your credit reports.
Keep in mind, however, that the 30-day grace period you enjoy as it pertains to credit reporting only applies to credit reports. If you’re one day late, then your lender considers you late, period. And when you’re late, you normally have to pay a late fee and, when it comes to credit cards, interest on the unpaid balance.
Of course you won’t have to worry about late fees, additional interest charges, or the intricacies of credit reporting practices if you simply get in the habit of making all of your payments on time, every time.
Related Articles:
- This One Factor Affects Your Credit Score More Than Anything Else
- Buying a Home This Year? Start Now to Get Your Credit in Shape
- Is a 700 Credit Score the Magic Number?
John Ulzheimer is an expert on credit reporting, credit scoring, and identity theft. He has written four books on the topic and has been interviewed and quoted thousands of times over the past 10 years. With time spent at Equifax and FICO, Ulzheimer is the only credit expert who actually comes from the credit industry. He has been an expert witness in over 230 credit related lawsuits and has been qualified to testify in both federal and state courts on the topic of consumer credit.
The post How Late Can I Make a Payment Before It Shows Up on My Credit Report? appeared first on The Simple Dollar.
Source The Simple Dollar http://ift.tt/2kFKDfd
Dating fraud victims lose £40m: stay safe when looking for love
People looking for love have been warned to ‘Date Safe’ (#datesafe) as part of a new campaign launched in the run up to Valentine’s Day in a bid to battle online dating fraudsters.
Source Moneywise http://ift.tt/2krKBa2
الاشتراك في:
الرسائل (Atom)