RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

Bill Management a Financial Priority for Most

November 30, 2015 1:27 am

With the exception of those earning $75,000 or more per year, catching up—or staying current—on bills remains the top financial priority for the majority of Americans, according to a recent Bankrate.com report. Paying down debt remains a distant second (though higher-income households cite it as their top priority), followed by saving.

“As Americans await the appearance of sustained income growth, the top priority of staying current or getting caught up on bills is testament to the tightness of household budgets,” says Greg McBride, chief financial analyst at Bankrate.com.
 
These findings, however, underscore improved financial security overall, particularly when it comes to employment. Both men and women, and those under age 50, especially, report feeling more secure in their jobs than one year ago.

Source: Bankrate.com

Published with permission from RISMedia.


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5 Ways to Protect Credit This Holiday Season

November 30, 2015 1:27 am

Amid the hustle and bustle of the season, it’s important for shoppers to make informed decisions about holiday spending when taking advantage of Black Friday and other deals. According to the experts at Credit Sesame (www.creditsesame.com), shoppers should keep in mind the following tips.

1. Avoid opening new retail store cards. Retail store credit cards often have very high interest rates and very low credit limits, which means that even modest balances can harm your credit score.

2. Use credit over debit and cash. Data breaches have become a common occurrence, so choose your payment methods wisely. If your credit card information is hacked in a data breach, you won’t be held liable for any unauthorized charges on the card. You can’t say the same in your debit card information, prepaid debit card information or cash is stolen.

3. Don’t spend more than can be paid in full… by January. Don’t go into debt when you’re shopping for the holidays. Consumers should aim to spend an amount lower than what they can comfortably pay off by the due date of their December statement – usually around mid to late January.

4. Check credit reports before December 31. Use online resources to check your credit report and get your credit score for free. As the New Year approaches, consumers often set resolutions to improve their credit scores or financial situations. One cannot improve their score without first knowing what’s on their credit report.

5. Use the credit card with the highest limit for holiday shopping. The credit score protection strategy focuses on keeping the credit card balance to credit limit ratio, or revolving utilization, low. Credit scoring models like to see balances that do not eat up too much of the credit limit.

Source: CreditSesame.com

Published with permission from RISMedia.


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