Hi All,

The internet is full of information about credit scores. Some of it better than others.

One good source for personal finance tips is Kiplinger. For todays posting, here is a clip from their money basics series. At 3 minutes 54 seconds, its brief and has sound information about what raises or lowers your credit score. We agree with most of these.

For those of you who can’t access the video, the main points are:

A) There aren’t any shortcuts.

B) Factors that lower your score include:
1) Late payments
2) Having too much credit
3) Opening many new accounts
4) Closing older lines of credit

C) Factors that improve your score are:
1) Making payments on time
2) Using only 25-50% of your accounts

D) Scores can be improved quickly. After your behavior changes, you should see improvement in 6 to 12 months.

Here is the kiplinger video:

Enjoy!

James

MANAGE YOUR MONEY TOGETHER

Here are some simple guidelines for DINKS to build wealth:

1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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