...Second, parents need to talk to their teens about saving techniques and opening up their own bank accounts. Third, teens should apply for a credit card for themselves; if not possible then become an authorized user on their parents’ credit cards. Fourth, teens need to be aware that the more inquires they make for credit cards; the more that it can hurt their credit. Fifth, teens need to understand that they need to pay their bills on time or suffer the consequences. Finally, teens need to use their credit card wisely and responsible in order to build their credit. It is wise for parents to encourage their teens to withhold a job. When teens are working for their own money they tend to be more cautious towards spending it. Without their own income, they will expect their parents to continue paying for everything” (Todorova). Law requires credit card issuers to check income for applicants under age 21.” Credit card issuers do such things to assure themselves that the teen will be able to repay their credit card balances. The next step in guiding teens to build up their credit is for parents to have a mature talk about money saving techniques and opening up their own bank account. “Establishing a good banking history can help your child build a strong financial foundation, which is a stepping stone for building a good credit score” (Todorova). Once teens have the chance to manage their own money they will soon realize how fast it goes and will now learn that they need to save...
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...credit a must, but it will help you qualify for loans, auto insurance, rental applications, cell phone plans, and it can even affect whether you get a job. She listed out steps, but didn’t go into much detail on how we can build our good credit. The fist step is to become an authorized user on your parent’s account, which I’m currently in the process of doing. The reason for being an authorized user on my dads account is considered “piggybacking”, when my dad has good credit my credit gets a boost. For some, this is the only choice when it comes to building credit. The second step for me would be to open up my own credit card, if I can provide proof of income. Full responsibility will fall on me then. We also learned why good credit is important. Lenders, employers, landlords, and insurance companies all use your credit report or your credit score to decide if they want to approve your application. First off, having too much credit debt will leave a negative mark on your report and can impact your credit score. You shouldn’t miss payments because that can also decrease your credit score. You don’t want a landlord to require you to have a co-signer, or an employer to not sire you, do you? If you have good credit history when starting out on your own then you are in a good place. I gained several tips on credit cards in college. We shouldn’t let a credit chard choose us...
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...I. 740 is the new 720! While the median FICO score in America is still 720, many lenders have now set the bar 20 points higher (money.msn.com, 2010). A. Fair Isaac, the credit rating agency behind the FICO score says that 13% of Americans have credit scores of 800 or better (money.msn.com, 2010). Ask yourself is your credit score near that lofty mark? B. If not, today I’m going to talk about some steps such as credit reports, how to stabilize your credit profile, the reason why lenders say “no”, and also improvement in your credit scores. (Transition: Now I’m going to talk about credit reports.) II. The top 3 credit bureau are Equifax, Trans-Union, and Experian (bankrate.com, 2008). A. You will need a credit reports from each of them, because creditor doesn’t have to report to all three credit bureaus. (bankrate.com, 2008). B. Look for errors on your credit reports such as information about you is out of date or just plain wrong (bankrate.com, 2008 C. Accounts histories can be inaccurate, and sometimes people make typing mistakes (bankrate.com, 2008). D. If there are some errors you see on your credit report you can use the dispute form to report mistakes or write a letter detailing them (bankrate.com, 2008). (Transition: Now I’m going to talk about how to stabilize your credit profile.) III. Yet over time, credit generally gives more weight to the consistency of credit payment then to disruptive events. So consistency is key. A. Plan to...
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...Check When does it make sense to use a credit card? You can use credit any time as long as you plan to pay off the card at the end of the month. Don't use a credit card unless you need it to gain a benefit or because the transaction requires it. Just be careful not to over-use your credit card and you'll be fine. Really, just never use a credit card. They're dangerous. How many credit cards should I have? Do not get a credit card under any circumstances! Get as many as you need in order to gain all of the benefits possible. Make sure you have a few cards with different interest rates and options. Limit yourself to a small number of credit cards. I want to buy something but don't have the cash on hand. Is it ok for me to put it on a credit card? Just don't use credit cards at all! No, never. You should only buy things on credit that you can pay for with cash. Sure, just don't go crazy. That's what credit cards are for, after all. You can do this only if you have a specific plan in place to pay off the debt. Signpost A, Part 2: Learning Check I heard that there are actually several credit agencies. Is that right? No, there is only one. Yes, there are three. Yes, there are five. Yes, there are seven. What does the score range from? 1 to 100. 100 to 850. 300 to 850. 300 to 1000. What's generally considered a good score? Anything over 500. Anything over 600...
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...time period, and then the bank gives you a higher rate of interest. At the end you have the option to withdraw or reinvest back into CD. * Money Market: This type of savings has a higher interest rate with a minimum deposit of $1000 and only a certain number of withdrawals. * U.S. Savings Bond: costs $25 dollars to start. You pay 50% of what the bond is worth with maturity. * What should you do to safeguard your identity? Protect Social Security number and protect your credit card. * What should you do if your identity has been misused? Contact your credit card company and government theft using this website: www.consumber.gov/idtheft. Chapter 5 & 6: Basics of Credit Cards and Focus on debt * Credit card: each time you take“cash advancement” on your credit card or purchase an item with it, you’re actually signing a contract between yourself and the credit card issuer for a loan. * Loan: consist of repayment of the principal loan plus interest on the unpaid balance. * MasterCard & Visa: unsecured credit, considered a...
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...The Larson Family Story FAS 331 Darrell Carson 11 October 2012 Academy Award winning actress, Gwyneth Paltrow stated in an interview that marriage is hard. She was referring to her union with the Coldplay front man, Chris Martin. Both Martin and Paltrow are in lines of work that help them to live relatively comfortable lives financially. Yet, by her own admission, without major financial burdens, marriage for them is still difficult (Heller, 2011). American poet and rapper, Notorious B.I.G. said in one of his most popular songs “Mo’ money, Mo’ problems” (Wallace, 1997). In this simple lyric, he was trying to convey the fact the money does not solve everything. In fact, it brings its own set of problems. While he may have been correct, the absence of money brings its own set of unique obstacles, especially within the family dynamic. Many marriage counselors will say that there are numerous pitfalls for all families. Children becoming teenagers, managing the day to day workings of a household, and parents getting older are just a few of the obstacles that families can face. However, financial stress can be one of the largest obstacles that a family has to tackle. In a poor economy, these problems are magnified. For the case of this paper, an imaginary family will be used to illustrate these problems. Jason and Janet Larson have been married for ten years. They have three school aged children. Jason works for a construction company as an electrician. Janet works...
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...Process Essay Information on your credit report can impact your credit score in a negative or positive way in fact, it’s the only thing that impacts your score. Your credit score in turn determines your ability to obtain credit, get approved for loans, get the job that you’re been dreaming of and even the ability to be assured for homeowner’s insurance. Having a poor credit score will either keep you from obtaining credit altogether or will place you in a high-risk category which means, your interest rate will be significantly higher than someone with excellent credit. By implementing steps that allows you to clean up your credit and boost your credit score, will position you to take advantage of receiving lower interest rates and saving money. For example, if you apply for a $25,000, 60 months, new auto loan and your credit score is between 734 and up, you could qualify for a rate of 1.75 percent. This would make your payment $435.60 per month. Someone with a credit score of 686-733, you could qualify for a rate of 2.75 percent. This would make your payment $446.66 per month. Someone with a credit score of 641-685, you would qualify for a rate of 5.25 percent. This will make your payment $475.08 per month. Someone with a credit score of 603-640, you could qualify for a rate of 7.35 percent. This would make your payment $499.80 per month and lastly, if you have a credit score of 564-602, you could qualify for a rate of 13.35 percent. This would make your payment $574.62 per...
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...Information technology are evaluated using a score card which will be used to establish a portfolio Application Model Matrix which will be used in comparing the projects, some of the proposed infrastructure projects for MDSCM include standard computing hardware and software, website and data warehousing. The website is the project with the highest likelihood to succeed and also will add value to the business. Introduction: The following is a summary of the information technology projects appropriate for the MDCM Company, IT infrastructure required include networking, standard computing hardware and software, data warehousing, messaging system and a website. A score card is also established in order evaluate each project and these scores are represented in a Portfolio Application Model Matrix. IT infrastructure: Networking: This project involves the use of internet and networking resources available to enable the sharing of information across the subsidiaries and also within the subsidiaries, networking will improve quality of products given that it will enable sharing of information with the various departments and subsidiaries and therefore add value to products. Computing hardware and software: According to the case study the company different hardware platform systems including AIX, UNIX, Windows NT, windows 2000, adoption of a standardized operating system will help reduce both support costs and maintenance costs. This will enable the company gain competitive advantage...
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...business credit inside of 4 months. No, you don't need good personal credit to build business credit but it certainly doesn't hurt if you do have good personal credit. Finally, even though it's important to build solid business credit, I strongly recommend that you begin building strong personal credit as well. It's nice to have a double arsenal of both good personal and business credit. When I say "pros" I mean that it is what makes it easier to get business credit from the creditor. When I say "cons" it doesn't necessarily mean that it's a "con" but rather they are extra steps/requirements needed to get the business credit. Here are the resources: 1) Advanta Business Credit Card - www.advanta.com Pros: Outstanding balance does not appear on personal credit reports Cons: Requires good personal credit Requires a personal guarantee 2) American Express - www.americanexpress.com Pros: Outstanding balance does not appear on personal credit reports Cons: Requires good personal credit Requires a personal guarantee www.SecretsToBusinessCredit.com Copyright © 2009 1 RESOURCE DIRECTORY BUSINESS CREDIT RESOURCE DIRECTORY - MONICA MAIN 3)...
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...to use a credit card? | You can use credit any time as long as you plan to pay off the card at the end of the month. | Don't use a credit card unless you need it to gain a benefit or because the transaction requires it. | Just be careful not to over-use your credit card and you'll be fine. | Really, just never use a credit card. They're dangerous. | | How many credit cards should I have? | Do not get a credit card under any circumstances! | Get as many as you need in order to gain all of the benefits possible. | Make sure you have a few cards with different interest rates and options. | Limit yourself to a small number of credit cards. | | I want to buy something but don't have the cash on hand. Is it ok for me to put it on a credit card? | Just don't use credit cards at all! | No, never. You should only buy things on credit that you can pay for with cash. | Sure, just don't go crazy. That's what credit cards are for, after all. | You can do this only if you have a specific plan in place to pay off the debt. | | Signpost A, Part 2: Learning Check | I heard that there are actually several credit agencies. Is that right? | No, there is only one. | Yes, there are three. | Yes, there are five. | Yes, there are seven. | | What does the score range from? | 1 to 100. | 100 to 850. | 300 to 850. | 300 to 1000. | | What's generally considered a good score? | Anything over...
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...Bloomquist & Yeager (2008) suggested that hospitals should shift to provide both public/community health care and institutional/traditional health care, and doing so would mean hospitals must evaluate community health status to make improvements and provide services meeting community needs. However, in order for public health institutions to accomplish this and acquire the knowledge necessary to get accurate information about what actually is the greatest good for the greatest amount of people. The initiation of the balanced scorecard allows for an effective review of the functioning of healthcare facilities. This opened up a more sound discussion of facility review in education forums. In the following the effectiveness and benefits of balance scorecards and the education forums communication modality will be discussed. The health industry has a grave responsibility in caring for the medical needs of the people of this country. In order for patients and providers to communicate effectively, a baseline must be established on which to measure the functioning of facilities. Walker (2006) asserted that hospitals have a social responsibility to their community to improve public health. Researchers have asserted that understanding community health status is a success factor for health care executives and their hospitals in the twenty-first...
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...Education Institution. I/We also declare that all published and unpublished sources have been fully acknowledged and properly referenced. This includes figures, tables and exhibits. Where modified by us, this has also been indicated.” Print Name | Signature | ID Number | | | | | | | | | | | | | | | | Index 1. Executive summery 2. Introduction 3. Main body 3.1Operations management 3.2 Company culture 3.4 Balance score card. 4.Conclusion 5. Bibliography Executive summary Introduction In the Rio Bravo company it is important that, the leadership of the company if very motivated to work at the company. The operations management plan must be implemented according to the seven points listed in the main body. This will enable them to cover all requirements. The company culture should also be to the best standards. A balance scorecard will enable Rio Bravo to take measurement on current progress. Main Body An operations management plan should have been implemented, the following steps will be required to implement an operations management plan. The formulation required by Rio bravo would have to be as follow. 1. Customers 2. Company 3. Competitors 4. Design and organization 5. Capacity 6. Processing 7. Problem solving and control Customers Team up with customers and know your customers. Rio bravo did not team up with their customers...
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...Most credit cards require that you pay a minimum monthly payment of two percent of the balance. Based upon a balance of $5,270.00, what would be the minimum monthly payment (assuming no other fees are being applied)? I found that the minimum payment that I would be making is $104.40 per month because it is two percent of $5,270. 2. Considering the minimum payment you just calculated, determine the amount of interest and the amount that was applied to reduce the principal. Hint: You’ll need to find the total interest for the year first. The total interest for the year would increase my balance of $5,270 to $6,823. If I determine the amount of interest that will go into my monthly payments, then my payments will be $136.46 instead of $104.40. 3. Consider one of your credit cards. What is the balance? How is the minimum monthly payment determined? What would be the minimum payment? How much of the minimum payment goes towards interest? How much of the minimum payment goes towards the principal? If you do not want to share an actual balance or do not have a credit card, calculate these amounts using an imaginary credit card balance. My fake credit card would have a balance of $10,000. The minimum payment per month is determined based on my income. The minimum would be 5% of the $10,000. Two percent of the minimum payment would go towards interest. One percent of the payment would go towards the principle. 4. Now, examine the terms of one of your credit cards or other...
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...Risks and Benefits Associated with Bad Credit Loans Bad credit loans are a blessing in disguise for those suffering from bad credit history. People unable to pay their bills or loans on time suffer from a bad credit score that affects negatively on their credit history. There are a number of reasons behind a bad credit history including financial crises, bankruptcy, inability to pay bills on time and many others. Recession is one of the major factors behind bad credit history of the people as they suffer from financial crises due to poor economic conditions and by loosing their jobs. Inflation is another solid reason that leads to poor credit scores. Bad credit loans help you enjoying the privilege of enjoying loans even if you suffer with poor credit history. Bad credit loans provide you financial assistance in a number of critical situations such as paying a sudden and unexpected medical bill, meeting the financial crunch at the end of the month, coping sudden personal financial needs when you run short of money. Bad credit loan is a perfect solution for all the above-mentioned problems as it let you get instant cash in order to fulfill your financial requirements. There are a number of lenders over the Internet and in the offline environment that offer ad credit loans to the people having no or poor credit history. The ultimate advantage of a bad credit loan is that you can instantly get the loan. You don’t need to wait for weeks to get your loan approved as you can...
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...can’t seem to see the light of day. That dream of ownership seems to be farther away than it did just three years ago. We tend to believe that if lady luck would have it along with hard work. We would at least be able to keep a head above water just long enough to achieve that goal without feel as if we have failed before we have even gotten started. We something feel as if we had higher payments on our mortgage that might just do the trick and save us thousands of our hard earned dollars from interest. To begin, this task we must keep in mind that this can cause us to feel overwhelming at first. In order become a homeowner a person must understand what their credit is to obtain this goal. According to, ("How do i," 2010 ) “The first step to buying a home is understanding your options. You can start this process with a preapproval decision. During the preapproval decision process, your Home Mortgage Consultant will run your credit report and analyze your income and assets to give you a clear picture of your home loan options. Lenders look at your credit history to determine how reliable you’ve been in managing your debts. From your credit history, they make assumptions about how you will manage your mortgage payments. The information in your credit history is evaluated and scored. The...
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