Lower Your Debt and Boost Your Credit Score

Having a good credit score is essential. Your credit score is no longer being used solely for credit applications. Employers now use your score as a gauge of how responsible you are with your finances. Their logic is that if you are not responsible with your own money, then they cannot assume that you will be responsible on the job. Although many people object to this way of thinking, it is very clear that having a good credit score is a necessity in today’s world.

 

You may have recently looked at your credit score and seen that it was average or poor. If you fall into this category, then you’re not alone. Millions of people struggle with re-building their credit score. While there are many factors that go into your final score, arguably the biggest contributor is the amount of debt you have. Credit companies do not like to see a high level of debt as this suggests financial distress and a higher likelihood of eventual default. If you have a poor credit score, lowering your debt should be your primary goal.

 

Reducing your debt is not as challenging as it may seem. Make a list of all credit cards and loans for which you have balances. Sort this list by the APR that you are paying. Pay off the cards that have the highest interest charges. As an example, if you have a credit card with $1,000 on it at a 10% interest rate and a card with $100 at a 20% interest rate, then you should prioritize to pay off the $100 card first. Your goal is to keep the interest charges that you incur to a minimum. This way, you’ll be able to progressively pay more towards principal and reduce your debt faster.

 

Consolidating your debt often helps too. Rather than having five cards with $1,000 on them each, it may make more sense to take a $5,000 loan at a lower interest rate and pay off all the cards. Note that once you take out this loan it is imperative that you do not run up the balances on your cards again! Doing so represents a slippery slope towards financial ruin. Take the loan and reduce your spending by the monthly loan payment amount. You’ll gradually pay down your debt and not accrue any additional debt.

 

Paying down your debt is the fastest way to boost your credit score. The way to get your debt down is to have focus and discipline. Pay down the highest APR cards first. Keep your spending under control so that you don’t make progress only to find yourself back in debt later. One of the most common mistakes people make is to consolidate their debt and max out their credit cards again. The goal is to always keep your card balances low. If you follow these simple steps, then you are well on your way towards increasing your credit score!

 

Zander Insurance Reviews

If you have a family you probably want to consider having a life insurance policy. There are many places that you can go to to get a policy, but how do you really know where to go? In this article I’ll provide a Zander Insurance Review so that you can learn more about Zander Insurance and who they are.

If you have never heard of Zander it’s probably because they mainly advertise in one place and that is on the Dave Ramsey Radio Show. Dave Ramsey is considered a financial “guru” and has written many books on getting out of debt and discusses the same topic on his daily radio show.

Dave Ramsey helps people get out of debt with his program that outlines seven baby steps to getting out of debt. One of the things he recommends though is that no matter how much debt you have, if you have a family then you should have a term life insurance policy. He primarily recommends term life insurance because it’s a cheap and affordable option to have protection for your family. And if you follow his plan and build up your wealth, then you won’t need a life insurance policy once you are 50 or 60 years old, which is most likely when your term policy will expire.

Zander life insurance is a sponsor of Dave Ramsey’s radio show and he recommends them as an insurance agency that you should use. There have been many people that are happy with Zander, although there are insurance agents that have written negative Zander Insurance Reviews which you can read about.

They represent about 10 life insurance companies and allow you to get a quote online. You can also speak to an agent on the phone and go over quotes and put an application in for life insurance over the phone. When I compared prices on Zander with other insurance companies I found that while they didn’t always have the best price, their pricing does seem generally competitive. I haven’t read too many reviews of their customer service online, as they only have one review on Yelp – hopefully other users will chime in and write additional reviews of this insurance agency.

If you have ever used Zander, please comment on this post and write if you had a good experience, or a bad one, I’d love to hear more from you about this particular company, and if Dave Ramsey is wise to recommend them as the only place to find affordable term life coverage.