The FCRA or Fair Credit Reporting Act includes the federal regulations that credit bureaus need to follow. According to this law, credit bureaus have to allow everyone to see their own credit report and credit score. Credit bureaus are allowed to report negative info for 7 years; however there are exceptions like bankruptcy, which can be listed by credit bureaus for 10 years.  The FCRA also suggest that credit bureaus cannot releaser anyone’s credit report to others unless they seek the report for ‘permissible purposes’. Right of the Credit Report Owner As the owner of the credit report, you have the right to get informed about every fact included in the credit report. You also have the right to know about the businesses that are responsible for the inclusion of the facts into your  [...] 

Up until some time ago, credit cards ruled the roost. Our consumerist lifestyle was fueled by the craze in using credit cards, and with the tightening of credit lines it makes more sense to pay by cash these days. You need a heck of a lot of discipline not to exceed your buying (or repayment capacity) and if you can do that, credit cards are still the thing for you. Moreover, with the Credit Card Accountability, Responsibility, and Disclosure Act (CARD Act) coming into power, even consumers with decent credit scores are finding that it is difficult to get credit cards that offer previous interest rates. Getting those lower rates is in fact more difficult than ever. I used to regularly use my decade old card that offered an interest rate of 10%, a far cry from the interest rate it now charges  [...] 

The financial market and the housing market crash might have taken a major bite out of consumer confidence and the real estate market, but there was always homebuyers tax credit to save the average American. The whole point of homebuyers tax credit was to encourage everyone to go out there and buy a home right away, and to a large degree it worked a charm. But just as all people are not created equal, not all of these tax credits carried the same weight. In fact, some of those that availed of this scheme might now find themselves up against it after signing on for homebuyers tax credit. The thing is there is a lot of confusion surrounding homebuyers tax credit. There was one that was mandated in 2008 that is particularly the cause of great confusion and it amounted to 10% of the purchase price  [...] 

Building wealth can be a very daunting idea, but it is not nearly as difficult as some people make it out to be. You don’t need to be earning a huge amount of money and you don’t need to be very financially sophisticated in order to achieve this aim either. There are a few simple things that you have to get right though. As it is with all things in life, following a simple plan can have an everlasting on you when it comes to building wealth. For instance, if you are spending more than you are earning, increase your income somehow or cut back on your expenses. It’s all about smart money management and it doesn’t take a rocket scientist to figure it out. For instance, I recently started teaching graduate students part time as a way of increasing my passive income. I’m  [...] 

We all know who Warren Buffett is, and that he is one of the richest people on our planet. However, he did not become rich. It started with one thought: ‘I always knew I was going to be rich. I don’t think I ever doubted it for a minute’ He always knew he would become rich, even when he did not have money to meet monthly expenses. And he became rich, simply because he believed it very strongly. Unwavering Belief Everyone leads a normal life, by working few hours a day, enjoying their weekends, and hating their lives. However, few have ‘crazy’ ideas in mind which they believe in. They strive it happen; challenge themselves and other; take the road less traveled, and follow through till the end. This system works similar to a car. If you don’t have gas in your car, it wouldn’t  [...] 

Life after college can be quite challenging with new job to manage and personal finance to handle. Not every student might have worked during their school life, getting less exposure to managing money. Main expenses during college life were food, entertainment, and perhaps, temporary shelter. However, life after college wouldn’t be so simple and entertaining. If you spend like you used to in college, life would be difficult. Here are some tips that can help you take care of your finances after college. Don’t Purchase a New Car Most graduates want to reward themselves for all the hard work they had done in school. And the reward is new car. However, unless you can pay for it in full, don’t purchase. If you had a car in college, use the same one for a while, until you save some money for  [...] 

$1,000 is not a small amount. If you have saved it, or you have received it as your birthday check, don’t let it simply go waste. Instead, spend it in a wise manner. Here are few things you can do with your $1,000. Strengthen Your Emergency Fund Dont fret if you dont have an emergency fund. You have a great opportunity to start with $1,000. if you already have it, add this amount to your fund. The best part about emergency fund is they can be used any time, any where during emergencies. You don’t have to liquidate it like other investments. Hence, having such a fund should be your priority. Consult a Financial Planner You can skip this step if your finances are in place. However, if you have accumulated enormous debt, and don’t know how to repay them, consult a financial consultant,  [...] 

Even if you have the highest paying job in the world, you can be under debt due to your habits. Your approach, your habits can make your rich (or make you poor). Hence, it’s important to pay attention to them, and change them, if necessary. Habit 1: Working For Money Don’t expect money to come to you, even if you have bought all the lottery tickets. To earn money you need to work. If you don’t have an intention to earn money from your work, you will end up working for charity. Work hard, earn more, be proud to be rich. Habit 2: Spend It The more you spend the more you want to spend. Hence, you work more and earn more to spend more. That’s life. You cannot sit idle and watch TV. There are many things you can do with money: buy new pair of shoes and clothes, go out with  [...] 

1.    I want to generate passive income That’s probably a very good idea. But until you don’t act on it, it would only be an idea. Besides, if you have a closer look, you will realize, more than passive income, you can earn money through your active income (current job) simply by sharpening your skills. Having a passive income is a good way to earn extra money. However, not every idea can help you earn $500 per day. But job is a place where you can get significant hike. So, work on your skills instead of nurturing some passive ideas. 2.    I can save more money, if I try a bit harder You can hear a similar statement by an obese person. They know they can reduce weight by consuming less calories per day, but they aren’t ready to reduce it. Besides, simply trying harder  [...] 

No, I wouldn’t make you walk all the way to your workplace, nor I would ask you to give up on your favorite TV show. This list of 10 ways to save money contains some simple and easy strategies to pocket few bucks every month. Let’s have a look at them. 1.    Don’t Eat Out Often If both the spouses are working, this is probably a difficult task. They can start with cooking food at home once a week. 2.    Take Lunch at Work Again, you don’t have to do it everyday. Carry your lunch 2-3 times a week. For the remaining days, join your colleagues. 3.    Limit Shopping I promised I wouldn’t deprive you of anything. But you don’t really use every thing you buy. So why do you buy it in the first place? 4.    Buy in Bulk Of course you cannot do this every time you go out to buy  [...]