MARTINSVILLE, N.J., June 20, 2016 (GLOBE NEWSWIRE) — When it comes to finance, numbers clearly matter. However, one of the most powerful within the realm of personal finance is a three digit indicator that shows just how worthy of a borrower an individual is – the notorious credit score. We have all heard about it, but what exactly is this and how is it comprised? According to Ken Schapiro of Condor Capital Management, it is a three-digit number that is generated from information collected by credit agencies and paints a picture of how healthy someone’s finances are. By taking a look at this score, lenders have an initial indication on whether or not to extend credit to you for such things as a mortgage or car loan. In addition, if you are approved for credit, your credit score will also be utilized to determine the interest rate that you are charged. Generally speaking, Schapiro says that a good credit score to target is 720 or higher, though all lenders will have different standards to determine what score is optimal for the extension of their services. With so many factors to consider, it is increasingly important to build a strong credit history and work to increase your credit score over time. However, in order to consider ways to increase a credit score, it’s important to know what goes into a credit score is.
With wedding season in full swing, how much consideration have couples really given to the rising costs associated with the big day? When the time comes to plan their wedding, many couples may be surprised, as a recent study completed by The Knot (a wedding planning website) found that for the fifth year in a row, the average price for a wedding increased by 4.6% to $32,641 in 2015. This national average is actually just a fraction of the average cost of weddings in the Northeast. New York City, on average, is the most expensive place to tie the knot; couples pay a whopping $82,299! Northern and Central New Jersey couples open up their wallets as well, with the average cost topping $55,000 on their wedding day.
Summer is under way, which means prettier weather and uglier energy bills. The winter and summer months feature the highest peaks for energy requirements, with the United States residential sector demand increasing by a whopping 67 billion kilowatt-hours, an increase of nearly 66% from fall and spring usage according to the U.S. Energy Information Administration. The heat is coming, but here are some of the best ways to help keep those bills down:
According to a recent survey conducted by bankrate.com, Americans have at one point or the other had one of the following five regrets when it came to their money habits.
Memorial Day is a federal holiday to honor and remember the troops who have made the ultimate sacrifice while defending our freedom and ideals. Every year, this holiday is celebrated on the last Monday in May. This holiday dates back to 1868, after the Civil War, when it was known as Decoration Day because it was a day to decorate the graves of the soldiers who had died in battle. Although Memorial Day is intended to honor those who have lost their lives in war, many institutions take this day to recognize and celebrate all veterans. With Memorial Day coming up, it is time to give back to those who gave everything to our country and make veterans aware of some of the many benefits available to them.
It’s finally prom season – the rite of passage for upperclassmen in high schools all across the country. With respect to costs for the big night, though, there is some good news as well as bad news.
For those of you who have April 15th marked on the calendar to file taxes and have not yet done so this year, take a deep breath: you have three extra days to get them done. Continue reading “Taxes Due on April 15th This Year? Not So Fast…”
Many people mention that your 20s are the best years of your life. While this may be the case from the perspective of having few major responsibilities, it is far from the truth financially. According to Edvisors.com, a leading online authority for planning and paying for college, about 71% of students graduating with a bachelor’s degree in 2015 had student loans averaging around $35,000. With a majority of current graduates suffering from extensive debt, wealth and financial independence may seem like a far-off dream. However, according to Ken Schapiro of Condor Capital Management, it is possible to create a solid foundation for a wealthy future while still in your 20s by following several important financial guidelines.
As a follow-up to an article we posted last week about whether now may be a good time to apply for a credit card, we wanted to offer our 2 cents on an upcoming option: the Costco Anywhere Visa Card by Citi.
While current Costco Amex cardholders will receive their new card by mail – and without a hard inquiry – for use on June 20th of this year, those in the market for a credit card should check out the rewards that this card offers and consider whether it makes sense for them.