article thumbnail

25 Ways You’re Killing Your Savings: STOP Making These Mistakes

Due

Your credit score is 579 or lower. In this case, additional credit is difficult to get at a reasonable interest rate as this is below the average. If you are experiencing [credit card] debt, you need to handle it urgently, possibly even delaying retirement contributions while you get your balances under control.

article thumbnail

Set Your Money on Autopilot: How to Save with Financial Automation

Due

Also, you’ll always be in good standing with your bills, protecting your credit score and preventing late fees. An IRA (individual retirement account) can be opened at a brokerage firm if you aren’t eligible for an employer plan. If your credit card information is stolen, you don’t have to worry.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Mortgage Refinancing: How Does It Work?

Due

Another downside is that your credit score will likely drop since you’re paying the total amount of the original mortgage. But be careful about multiple credit inquiries, affecting your credit score. Since it gauges how likely a borrower is to repay a loan, bad credit is a red flag to lenders.

article thumbnail

52-Week Money Challenge: A Year of Savings

Due

Financial cushioning can help you avoid debt or reliance on credit cards that can further strain your finances. You can improve your credit score by reducing your reliance on debt, such as credit cards or loans. Plus, keeping an eye on your credit score is another crucial financial habit.

article thumbnail

Steps to Take to Protect Yourself if you are a Victim of Identity Theft

Due

Your credit score is also at stake Not only are you left with debt, but the thief can also subsequently ruin your credit. Following are some aspects of a credit score that can be affected if a thief messes with credit lines in your name. Each hard inquiry will push your credit score down by a few points.

article thumbnail

High Schoolers, Get Financially Prepared for College with this Ultimate Checklist

Due

Your credit health largely shapes your eligibility for home loans or other financial privileges in the long run. Avoid credit card debt It pays to be vigilant about repaying your bills to avoid your credit score taking a hit. Remember, credit card loans come with the highest interest rates.

article thumbnail

25 Ways You’re Killing Your Savings: STOP Making These Mistakes

Due

Your credit score is 579 or lower. In this case, additional credit is difficult to get at a reasonable interest rate as this is below the average. If you are experiencing [credit card] debt, you need to handle it urgently, possibly even delaying retirement contributions while you get your balances under control.