Liquid Blog — Liquid

Last week we discussed how your credit history accounts for 35% of your FICO score. The next biggest component comprising your score is the amount of debt you have which comprises 30% of your score. That means nearly two-thirds of your credit score is made up of your history and your amount of debt.

PostedJuly 7, 2011

AuthorMax

CategoriesCredit & Debt

TagsCredit Cards, Credit Score, Loans, Mortgages

Conventional wisdom is you're better paying off your own mortgage than someone else's, which is what you're doing when you're renting. However, as we've seen in the last couple of years, the housing bubble burst and perhaps this isn't true anymore as we've witnessed house prices plummeting in certain areas of the country.

PostedJuly 5, 2011

AuthorMax

CategoriesCredit & Debt

TagsEmployment, Jobs, Mortgages, Real Estate, Renting

Today as we celebrate the 235th birthday of the Land of the Free, let's take a load off and talk about we can get good free stuff. We spend so much money in our society, it's not just on things, but events as well. Going to a major league sports game requires nothing short of getting a second lien on the house. We think we have to spend to do anything. Think again.

PostedJuly 4, 2011

AuthorMax

CategoriesSaving Money

TagsDeals, Frugality

The latest numbers from the government indicate the median length of unemployment is 5 1/2 months. Going without a paycheck for this amount of time can do considerable damage to your financial well-being. If you had an emergency fund, it is depleted, if not completely gone; otherwise, the only way to cover your shortfall is to either increase your credit card balances substantially, or cash in your investments, or both.

PostedJuly 3, 2011

AuthorMax

CategoriesCareer & Economy

TagsEmployment, Frugality, Jobs

...not the marriage kind...

But just what does it mean to be more excited about what you spend at least 8 hours a day doing! If you're not, it may not be your fault. Just as a lack of financial education, which isn't your fault, can lead to poor spending habits, a lack of concern on the part of your employer to get you engaged at work is also not your fault. This can lead to poor morale and poor performance.

PostedJuly 2, 2011

AuthorMax

CategoriesCareer & Economy

TagsEmployment, Financial Literacy, Financial Planning, Jobs

Due to the recession, households have been holding back on spending. A weak job market has made people afraid to spend; a weak housing market has made many people feel less wealthy and therefore reluctant to spend, and with the recent increase in gas prices consumers don't have the money to spend on other things. The National Foundation for Credit Counseling conducted a poll; 66% of respondents said they were suffering from "frugal fatigue." Retail therapy, here we come...

PostedJuly 1, 2011

AuthorMax

CategoriesCredit & Debt

TagsCredit Cards, Employment, Job, Recession

Your FICO score ranges between 300 and 850; the higher your score the more likely you'll get charged lower interest rates on loans, you'll have lower insurance premiums and you'll get a job. The best way to improve your FICO score is to focus on your history.

PostedJune 29, 2011

AuthorMax

CategoriesCredit & Debt

TagsCredit Score, Employment, Insurance, Job, Loans, Mortgages

The things you buy are influenced by many things around you. One of those things is people. Of those people, there are your friends, those you know from your religious affiliation, your co-workers, your neighbors and acquaintences. In today's world with social networking, you have even more contact with them than ever, thereby having them influence you to an even greater extent.

PostedJune 28, 2011

AuthorMax

CategoriesSaving Money

TagsFrugality, Technology

Conscious spending is all about actively choosing to spend on the things that are important to you. You evaluate every purchase, no matter how small.

PostedJune 27, 2011

AuthorMax

CategoriesSaving Money

Much to your horror, you may be surprised to find that your doctor bill can continue to cost you long after you've paid it.

PostedJune 26, 2011

AuthorMax

CategoriesCredit & Debt

TagsCredit Score, Health, Insurance, Interest Rates, Loans, Mortgages, Real Estate

Due to the fact that financial literacy is generally not taught in school, young adults graduating from high school are entering the world not knowing how to handle money properly. CapitalOne conducts an annual survey on the state of financial literacy among graduating high school seniors. This year 40% don't feel comfortable managing their money.

PostedJune 25, 2011

AuthorMax

CategoriesSaving Money

TagsCredit Cards, Employment, Financial Literacy, Interest Rates

So you received a speeding ticket and you're thinking: "I'll just pay the fine." Think again. Not only will you pay the fine, but you'll pay in another way: increased insurance premiums.

PostedJune 24, 2011

AuthorMax

CategoriesSaving Money

TagsCredit Score, Deals, Insurance

The study by Financial Finesse clearly shows that women lag behind men in financial knowledge. Due to this, women lack the confidence in their finances as well as their ability to meet their long-term income goals. The report said that women lag men in their knowledge "in virtually all areas of finance."

PostedJune 23, 2011

AuthorMax

CategoriesSaving Money

TagsFinancial Literacy

We all know that working out can improve your health as well as improving your finances. Just like working out, using cash as opposed to plastic at the register can also improve your health and your finances. Huh? Really...

PostedJune 21, 2011

AuthorMax

CategoriesSaving Money

TagsCredit Cards, Financial Literacy, Financial Planning, Frugality

Identity theft is not just for adults. Nearly one in four Americans have experienced identity theft of some type. Unethical online businesses find inactive social security numbers belonging to children and sell them to people who need to establish fake credit.

PostedJune 20, 2011

AuthorMax

CategoriesCredit & Debt

TagsFinancial Literacy, Fraud

Like the government, most people make enough money; and like the government, most people need to cut their spending. However, after trimming the obvious things, such as the stuff you don't really need or seldom use, you reach a point when you get wary and you don't know what else you can cut.

PostedJune 19, 2011

AuthorMax

CategoriesCareer & Economy

TagsDebt, Financial Planning, Frugality

More and more, ecommerce is becoming a part of our everyday lives. We buy things from all kinds of merchants online from Sony to mom-and-pop-type stores; these transactions are subject to hackers that want to obtainl our sensitive information and steal our identity.But, there's a solution right at hand, or, right IN hand.

PostedJune 18, 2011

AuthorMax

CategoriesCredit & Debt

TagsCredit Cards, Fraud, Technology

I'm often asked if debt cosolidation is a good thing. First of all, debt consolidation involves a whole lot more than simply making a single payment. There are actually two types of debt consolidation: Debt Management Plans (DMP) and Settlement Plans. Which one is best for you depends on your situation.

PostedJune 17, 2011

AuthorMax

CategoriesCredit & Debt

TagsBankruptcy, Credit Cards

Once you've decided to clean up your financial life, make sure you don't get sucked into a maelstrom you can't get out of. These five traps will definately impeded your progress.

PostedJune 16, 2011

AuthorMax

CategoriesSaving Money

TagsFinancial Planning, Frugality

A study conducted at Ohio State University found that adults between the ages of 18 and 27 felt more empowered if they owed money. Remarkably, it wasn't just educational debt that made them feel good, but credit card debt had positive effects on their esteem as well.

PostedJune 15, 2011

AuthorMax

CategoriesCredit & Debt

TagsCredit Cards, Interest Rates