How to Improve Your Credit Score

A few months ago, when I applied for an apartment, I found out my current credit score: 760. All around good, and I’m satisfied with it. It will get higher, I assume, when I need and manage more credit.

Do you know your credit score? And do you know all the things it can impact?

Think about this: when you apply for an apartment (sometimes even a job); when you need a loan–for a car, a house, whatever; when you get certain kinds of insurance; and when you look into refinancing, your credit score plays a huge role. Based on how successfully you’re deemed to handle credit, you can be given many different levels of interest rates. Sometimes, a low credit score can even affect your not getting the loan, the apartment, the job entirely.

Second question: do you know how to improve your credit score?

There are many, many resources online that provide advice for improving your credit score. I’d like to suggest one I like: Credit Report Repair*. They are a reputable company that makes its mission getting knowledge and better credit in your hands. In fact, they promise: If We Don’t Improve Your Credit Score Each Month… Get That Month Free! Check Out MyCreditGroup.com Now!

It’s worth checking out, at the very least.

*In the course of blogging here, I’ve been approached several times by companies that wished for me to advertise for them. Until now, I’ve always declined because I didn’t believe in what they were promoting (payday loans, etc.). This time, though, I can finally stand behind a service I believe in.

Keeping My Last $2

I spent last Saturday catching up with some friends from the past, over bakery, then pizza. Afterwards, when I was grabbing the Brown Line from the Loop back to Lincoln Park, the ticket-vending machine wouldn’t take my dollar bills–the last two I had in my wallet. Frustrated, I went to see the little man in the booth to my left.

“I need to put money on my card,” I gestured with my money and my CTA pass.

He stared at me blankly.

“The machine’s not working. Can I pay you instead?”

His hands flew up, pushing me away. “Fine. Just go through,” he told me. “I don’t have time to deal with this.”

I know he was angry because a group of teenagers had just gone through before me, all because of the broken machine. I know he was frustrated that it was cold outside and he was working amongst people like me.

But what can I say? I walked through the gate blissfully, glad to keep my last $2 in my pocket.

free pass = happy me.

Everyone’s Talking Recession. Why Don’t I Feel It?

You really can’t go anywhere lately without talk about the struggling economy. I read an article recently that highlighted pending layoffs, lowered revenues in the retail sector, plunging home sales.

To quote that author directly: “What happened with Bear Stearns was the closest we have come to a run on the bank since the Great Depression…The 1929 market crash, contrary to what many believe, did not cause the depression–a run on banks over a protracted period of time did.” He goes on to suggest that the war is actually a money-making strategy of the government’s. Very interesting stuff.

Here’s the rub for me, though. Why don’t I feel like we’re in a recession?

I mean, I’m not complaining. But am I so middle class that my life stays the same even in the midst of major economic problems?

What do I mean? I have a good job. Yes, gas (well, diesel!) is expensive, but I can afford it. I’m going on a vacation in June. I still eat out, I have a comfortable place to live, I even have money to give.

And it’s not just me. One of my friends, also in her twenties, put an offer in on a townhouse last week. Then there was a condo I looked at last month, which ended up selling in 22 DAYS!

This article, “What’s the difference between a recession and a depression?,” made things make more sense for me. I think when I hear “recession,” I think of my grandma’s stories of quitting school in eighth grade to earn money for her family of seven. I think of grocery stores being out of food.

That, though, is a depression. Let’s hope our country never gets in that situation again.

When Did We Stop Dreaming?

I asked some six- and seven-year-olds recently what they want to be when they grow up. There were a lot of answers, with a general theme: grand. Several kids said they wanted to be more than one thing or that they couldn’t pick just one:

I want to be a doctor. And a college professor. And a veterinarian.

I want to be a crocodile hunter.

I will be an author.

At what age do you think we stop dreaming big? How many kids say: I want to be an accountant or an actuary or, heck, a copywriter?

My friend’s son grew up wanting to be a paleontologist, but he’s given up the dream. Why? My friend says it’s simple: money.

All of this makes me feel powerfully sad somehow.

Where I’ve Been All Week

So, as promised, I took a week-long vacation from blogging to celebrate my one-year blogoversary.

What have I been up to? Here are some highlights:

1) Personal: I wrote a fan letter to John Krasinski. My first celebrity letter ever. I blame my co-worker. And John–for being so darn lovable.

2) Work: I hired two new people and lost another.

3) New Projects: After reading about Taproot at another blog, I looked into volunteering. I still need to find an orientation that will work with my schedule, but I’m seriously looking into this as a great resume builder, contact maker and new experience.

4) Just because I wasn’t blogging doesn’t mean I wasn’t reading. I clearly wasn’t alone in my appreciation for WellHeeled’s “The roaring twenties” post. She puts so well what a lot of us have been feeling in this stage of life. Worth reading.

The Winner Is… (and 22 Tips)

pennypincher: (Tip #14 below) I’ll be shooting you an e-mail shortly.

Everyone else, here’s a round-up of the tips submitted. Thanks to all who participated!

1. calgirlfinance: Don’t waste. This applies to everything in life - your time, your money, and the earth’s resources.
2. Watson: When it comes to retirement savings, contribute in the following order:1) Contribute to the 401(k) up to the employer match.
   2) Contribute and max out Roth IRA.
   3) Continue contributions to the 401(k) up to maximum limit.
3. StackingPennies: Know what you are spending on things and make sure it is in line with your priorities
4. Nine Circles: Have one spot where you keep all your bills as they come in so none of them go unpaid because they went astray. No late fees!
5. Aristotle: Deal with cash so you don’t go haywire with credit cards… I take out my budgeted cash each pay period and stick it in different envelopes–grocery, entertainment, miscellaneous, etc.–so it helps keep me honest and on budget.
6. HighClassLowIncome: Leave the plastic at home (including your debit card if you can) and rely on cash. Similar to Aristotle, cash has made me way more aware and accountable of my spending!
7. Linda F: Use coupons whenever possible. The savings really do add up
8. Kari Follett: Buy in bulk if possible. We shop twice a month and it seems to help. Oh, and we use a lot of coupons too!
9. Audrey Larson: Re-use all your plastic shopping bags for garbage!
10. denise: When stopping at the store for one item, no not pick up other items you see and do not really need. Get that one item and get out of there.
11. Joey: Try to find ways to re-create your favourite items from restaurants and coffee shops at home. Generally much much cheaper!
12. michelle: Congrats on your anniversary! My tip: Custom make your own coupon box by using an index card box and making your own index seperaters. Then always keep the box in your car so that you never forget it when you go to the store.
13. full grown single: Don’t worry. In general, it– whatever it is– is usually going to be ok.
14. pennypincher: When going grocery shopping ALWAYS make a list and stick to the list. It is also better not to go hungry.
15. Kam A: Always shop the sales and to always use coupons.
16. John B: Live on less than you earn (somehow)!
17. gildedbutterfly: Know where you are, where you want to be, and how to get there. That applies to money, career, relationships, and just about anything else.
18. Steve: If you spend more than you have today than tomorrow you will have to spend less. That is all that a recession is, it is an individual, organization, or nation that has practiced spending more than they have and gone into debt and then have to reduce spending so that they can still buy what they need, food, gas, AND service their debt. Recession results when nations or individuals have overspent and have to reduce cash consumption.
19. michelle rosborough: If you shop at Thrift shops always ask about todays specials. They always have something on sale.
20. Renee Jobe: Shop in re-sale shops for clothes (even though my kids say I should at least buy a new pair of jeans once in awhile from a “real” store!) I am not only getting a great deal for myself but giving back to the community too!
21. financegirl: My tip du jour is to give gifts at retail prices: buy on sale, gift at retail, and snowflake the difference!
22. sfordinarygirl: Stock up on canned tuna when it’s on sale - it makes for a simple, delicious and cheap dinner with plenty of protein. I bought like 10 at Walgreens during the last sale for 80 cents each and it’s saved me a ton of money when I’m too lazy to cook and short on time.

It’s My Blogoversary = Drink Starbucks for Free!

OK, readers. Today is a big day at This Writer’s Wallet. It is the one-year anniversary of the first day I blogged here.

Celebration is in order, obviously. My blog and I are taking a little vacation for the next week. During this time, you can browse through the archives, take a look at some of my favorite posts, get a feel for who I am or (very important) comment here to win free coffee.

So here’s the deal. I’ve got a $10 Starbucks card going out to one randomly chosen commenter. To be eligible, you must:

(1) Leave a comment on this post.

(2) Be sure to include your e-mail address (or some contact info) when doing so, so I can get a hold of you if you win.

(3) Give us one money-related tip–anything that you think is a good rule of thumb or handy reminder or whatever.

That’s it. One week from today, I will select a random winner from the entries. It will be announced on the blog, and I will contact the winner directly.

Happy Blogoversary to me!

What Do You Think Will Happen to Rental Rates?

A friend of mine is moving to Charlottesville, Virginia, in a few months, so I was looking online at apartments in that area. (Full disclosure: I figured it’d make a great back-up plan if I decide to move)

Can I just say one thing: Moving to the South sounds like a better and better option. Why spend $1000 to rent a one-bedroom in Chicagoland when I could pay $500 to share an adorable place with a friend in Virginia?

Who decides these outrageous rentals, and do you think they’ll drop if real estate prices keep falling? Or will they go up since more people are renting than buying, so there’s a more competitive market?

Bad Day => I Need Cookies

Some days, I think everyone has them, nothing is more comforting than a fresh-baked, hot-out-of-the-oven cookie. Lately, I become a big fan of Martha (can’t believe I’m saying this), and I’ve enjoyed the following:

Giant Chocolate Sugar Cookies

Oh, delicious. I. love.

Have a favorite cookie recipe or even a recipe source? Post it here!

It’s Such a Cliche…

Have you ever thought about how many overused phrases there are regarding money? Sometimes, try as I might to avoid them, I find myself thinking in these cliches:

I didn’t buy myself the ubiquitous man-I’ve-had-a-bad-day present yesterday because I realized money can’t buy me love, which is what I was actually looking for to make me feel better. I mean really, there are some things money can’t buy. And we all know the best things in life are free.

Tonight I walked through a few stores, but I walked out empty-handed, reminding myself that a penny saved is a penny earned. Since money doesn’t grow on trees, there’s no harm in waiting to purchase things I don’t need.

Somebody stop me!

Or just join me: what other money cliches do you know?