What You Should Teach Kids So They Save Money

By: William Blake

If your son or daughter's piggy bank is nearly overflowing, it may be time to consider opening up a bank account for them. An account helps teach children how to keep track of money easier. There are a few different types of savings accounts that you should consider for your child.

As soon as your child has money of their own, they can start a savings account. Find a day with free time and make a trip to your bank branch. Tell the bank associate there that you are interested in setting up a child's savings account.

Buying a Home

Is owning a home dream of yours?

If you are planning to buy your first home or are moving to a new home we can help you navigate through the options available.

First ask yourself, “am I ready to buy?” As any financial advisor will tell you – look at your budget and determine what you can afford. Purchasing a home forces you to take analysis of your credit and can be one of the most important and impactful financial decisions you will make.

How to Improve Your Credit Score

Pay Down Past Due Accounts

Any amounts that are past due destroy your credit score. Work at paying down past due balances as soon as possible; then normal payments can be made and will reflect paid on time. Any charge offs or liens within the past 24 months damage your credit score. Work at paying these as quickly as possible.

Check Your Limits and Distribute Balances

Make sure your credit card company reports your credit limit to the credit bureau and then keep your card balances at 50 percent of that limit or below. Anything over 70 percent of your limit damages your credit score.

Don’t Close Your Credit Cards, Keep Old Cards Active

Keep the number of credit cards you have between three and five to better your credit score. If you need to close some, the newest cards are the ones to close.

Financial Diet Plan

By: Howard Brule

Most of the talk on financial blogs is pretty negative these days. Most people are discussing the economic slowdown, the stagnating housing market, the rising number of bankruptcies, and increased risk of having a serious recession.

The truth is, many of us need to go on a personal financial diet. Is it time to shed some of that extra weight? In good times we all tend to extend ourselves a bit more than we should. Then when the inevitable slow down hits we have no choice but to cut out the fat.

Like quitting smoking or dieting, it's a psychological battle when it comes to keeping your finances under control. You will need to prepare a plan stating exactly how much you are going to spend, and how much you will save, by giving up certain things. Then, it is critical that you design techniques that will help you stick to the plan.