Goals, Personal Goals

Financial Goal Setting Reminders

Productive Goal Setting

We are already 3 weeks into the New Year, and we hope everyone is off to a great start! Since this month’s ‘theme’ is productive goal setting, we wanted to keep you on track by reminding you of a few things.

Priority Goals

should be short-term needs; priority two goals should be long-term needs. Short-term wants comprise the third priority, and long-term wants are priority four. In this way, you can address your highest priority financial goals first, and better focus your financial resources for the future.

Write Your Goals

Write them and put them somewhere they can be seen daily. Revisit your goals regularly, keeping in mind that as your budget changes, your goals might also. Share your goals with your family so you can stay motivated together as you reach for the financial goals you have set before you.

An Encouraging Verse

“I returned, and saw under the sun, that the race is not to the swift, nor the battle to the strong, neither yet bread to the wise, nor yet riches to men of understanding, nor yet favour to men of skill; but time and chance happeneth to them all.” Ecclesiastes 9:11

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    Credit Cards, Debit & Your Credit Score, Goals, Investing, Money Management, Personal Goals, Saving

    Setting Good Financial Goals

    S.M.A.R.T Financial Goals

    If you are keeping up with the Newsletters, you know that last week we decided to open up the New Year by presenting you with the “S.M.A.R.T.” tactic; a great tool that you can use as a guide when setting your goals for 2011

    The aim is to set good financial goals.  You will want to write them down, consolidate and refine them, prioritize them, make them measurable, and keep them visible.  Set good goals and keep them in front of you—you’ll be surprised at how much more productive and focused you’ll feel as you start living with a clearer purpose.

    The second common denominator of all good financial plans is a spending plan (i.e., budget). You may not like it, but it’s an absolutely essential tool for everyone.  Without a spending plan, you cannot implement saving and investing strategies because you don’t know if you have any extra money to save or invest.

    Keep an eye out for next week’s newsletter about priorities!

    Financial GoalsTip

    Don’t procrastinate!  Just sit down and get started.  It does not have to be perfect, nor does it need to be complete.  You will find things along the way that will need to be added and/or changed; that is ok. The most important thing is that you make a set PLAN.

    “Failing to plan, is planning to fail.”

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      Credit Cards, Debit & Your Credit Score, Identity Theft

      Identity Theft Victims Must Do List

      A Must Do List for Identity Theft Victims

      If you’re a victim of identity theft, it’s essential to take certain steps as soon as possible, to start repairing the damage. At the same time, begin to keep a record of all conversations and copies of all correspondences. There are six things you should do right away:

      Fraud Alert

      Placing a fraud alert on your credit reports will prevent a thief from opening any additional accounts in your name. Although there are three credit reporting agencies, you only need to call one of them:

      Equifax 1-800-525-6285
      Experian 1-888-397-3742
      TransUnion 1-800-680-7289

      Review Your Credit Reports

      Request them from all three agencies and review them very carefully. Look for accounts you didn’t open, debt that isn’t yours, and inquiries from companies you haven’t contacted. Verify everything and begin the process of removing any fraudulent or inaccurate information.

      Close Tempered Accounts

      Call immediately and follow up with letters, including copies of your supporting documents. Also, send the letters by certified mail so you know they received it. Keep records of everything.

      Fraudulent Charges

      Dispute fraudulent charges on your credit card accounts or debit cards. Call the company to find out what their process is and where to send correspondence. Don’t send it to the billing address. Once it’s resolved, get it in writing.

      Federal Trade Commission

      File a complaint with the Federal Trade Commission. Go online at ftc.gov or call their hotline at 1-877-438-4338. The information will be used to help law enforcement officials track the criminals and stop them.

      Do you want to know more about debt and how you can make smart financial decisions now that will help you secure a more prosperous financial future? Sign up for our newsletter for monthly money tips.

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        Credit Cards, Debit & Your Credit Score, Money Management

        Repairing your Credit – Five Trouble-free Guidelines

        Repairing Your Credit

        Repairing your credit is something we all have to do from time to time. It may appear like a hard task to do, but the fact is that it can be fairly easy when you follow these five simple guidelines to repairing your credit and getting back on track for a future with easy credit options.

        Pay your bills on time.

        A full 35 percent of your credit score is made up of your payment history, meaning it matters more than anything else. Hence, it is incredibly important that you pay back your bills on time and do not let them get late, or go to collections. One late bill can send your credit score spiraling down. This is why it is so important that if you are repairing your credit, to pay your bills. Even if it means minimum payments, you should pay your bills as soon as you can without letting them be late.

        Pay and Transfer

        Pay off your high interest credit cards and transfer balances to your low interest credit cards. Interest can sink you when you are trying to pay your credit cards, so transfer your high interest balances to low interest cards to save money. As well, if you have more than three credit cards, close out the high interest cards to get yourself down to two or three credit cards, no more.

        Credit Report

        Get a copy of your credit report. Understanding your credit report is key to fixing your credit. It will show you what to fix and what to not worry about. On top of that, it will help you see if you have any problems with errors on your credit report, something that affects 75 percent of all credit reports. Repairing a credit report error can drastically fix your credit, so make sure you get your credit report.

        Don’t spend.

        The smaller amount you spend on credit, the less you have to pay back and the easier it will be to start cutting down on your debt. You should try and limit all your everyday expenditured and create a budget so you can observe yourself and see accurately how much you need to allocate each month to pay off your debts in a year or so.

        Financial Accountability

        Talk to someone about your debt. A credit counseling company will take all your debts and put them into one loan that is easier for you to pay back. A credit counseling company will help you learn more about your credit and how to fix it. You won’t be so worried because you will have these companies on your side, helping you fix your credit. Just be careful of debt consolidation and debt counseling companies that are not legit and only want your money. Do your homework.

        These five tips can help you repair your credit and get yourself out of a debt spiral. Use these tips and before you know it, your credit will be back up above 650, and you will be living a much easier life again.

        Do you want to know more about debt and how you can make smart financial decisions now that will help you secure a more prosperous financial future? Sign up for our newsletter for monthly money tips.

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