"Can You Read It Now ?"

You maybe one of those people who once you pull your credit report all you know how to read is the three digit score. You are told to pull all three of your credit reports a minimum of once a year. Since identity theft is the fastest growing crime in America, it wouldn’t hurt to pull it every six months, but you still need to understand what you are reading.

Even though the three main credit bureaus are different, they basically provide the same data but format it differently. In this lesson, to help you familiarize yourself with some common terms used by all three.

Identifying the kind of credit reported:
R=Revolving ( this is your credit cards )
I= Installment ( this is your house, car, furniture loans )
M=Mortgage
O=Other ( this could be personal loans, non-traditional credit)

Now the very important indicator of your timely payment habits is the one digit number:
1= Paid on time ( Excellent ! )
2= 30 Days Late
3= 60 Days Late
4= 90 Days Late
5= 120Days Late
8= Voluntary (Bad )
9= Charge Off / Loss ( VERY Bad )

History is reported on the individual, not couples. If the debt is in one name, the history is reported as ( B = Individual Borrower ) or it may show as ( S= Signer ) . IF the debt is in two names, both signed an agreement to pay then you will see it as ( J = Joint Account)

Another very important indicator is the ‘DLA’ = Date Of Last Activity. This is the last time you made a payment on the account. ‘OPENED’ = The date the account was opened originally, and ‘LAST REPORTED’ is when the creditor last reported activity to the credit bureau.

To raise your credit score is disputing any inaccurate information that you see, including the indicators shown here. The law governing the credit bureaus is basically is they can’t prove it, they have to remove it. Credit Justice Services is one of Spectrum Resources as one of the nation’s top credit repair companies. If you decide not to repair your own credit and decide to seek professional help study the website: www.CreditJusticeServices.com/?ccc=1242 and their 75 Day Credit Makeover program. You will be working with a paralegal and a trained certified credit counselor. 390

Contact Spectrum Resources for personal counseling in debt, credit and home ownership issues
( 863) 967-0660 or email: SpectrumResources@tampabay.rr.com and please visit our blogs: http://spectrumresources.wordpress.com/ & http://womantowomanmagazine.ning.com/ & http://moneysavingtips.polkvoice.com/

"Financial Literacy -VS- Employer's ROI"

If you are an employer, you may have used the saying, “What Goes Around Comes Around”. Please think about how those words may apply to you and your business. Helping your employees learn how to live within the paycheck you are providing can actually help your profitability.

Today’s economic situation has caused everyone to re-evaluate their priorities, to re-think their long term plans and sharpen the focus on daily living and the decisions provide secure passage through the month. More employees are looking to the employer to solve their problems. Now is the time to work together, bring real meaning to 'extended family' and the word 'team'. "Through Sharing We All Grow !"

Employers are beginning to realize that by investing more in the employee it does impact overall performance, and productivity and profits. Financial literacy in the workplace brings a very high ROI. The damaging effect WITHOUT personal money management skills in employees show:
· Absenteeism
· Tardiness
· Garnishee
· Diminished customer service levels
· Loss of revenue from sales not closed
· Increased risk taking
· Increased request for pay advancement / raises
· Theft
· Increased health care costs
· Employee turnover

Without financial literacy in the workplace, employees bring their frustrations into their work environment and it spreads like a virus. One in four Americans (30 million in all )are in serious financial distress according to a study done by Dr. Thomas Garman. This domino effects not only the employee, their co-workers, their family life, but also the employer.

It’s smart business to provide employees with education, resources, and options. This empowers them to make better decisions with less stress and less cost to the company. In addition to the regular education on investments, there is a need for daily money management in the workplace. Employers providing basic personal money management education have shown a return with $450 in positive job outcomes, $300 in lower health care cost, and those who are offering flexible benefits accounts might even realize an additional savings of $1,274.

Causes of financial stress is the workplace is seen in four main categories: the most common is life events and emergencies that deplete personal savings and the ability to generate sufficient income. The second is primarily skill-based and involves a lack of understanding about how to manage, save, and invest money wisely. Americans have not been taught basic money management skills. The third is psychological factors that include impulse buying and responding to advertising and marketing tactics. The fourth is income stagnation due to inflation-adjusted real income of the vast majority of workers. Actual take home pay hasn’t increased much since year 2000. What incomes did rise, inflation ate.

Spectrum Resources offers education, resources and options. Spectrum Resources educators goes into the workplace for 'Lunch and Learns', or prior or after work hours. Call (863)967-0660 or email: SpectrumResources@tampabay.rr.com and visit often all our blogs each one with new and different lessons. http://moneysavingtips.polkvoice.com/, http://spectrumresources.wordpress.com/ and of course keep this one in your favorites: http://financialeducationandoptions.blogspot.com/

"He Who Hesitates Loses"

You may or may not have heard this saying "He Who Hesitates Loses", but as a credit risk assessment planner counseling individuals in debt, credit and home ownership issues I see it as an important warning. Your ability to think and consider your options and take action quickly can be the determining factor in the amount of your savings.

Here are some money saving tips:You now see empty store fronts while driving down Main Street due to companies that have filed bankruptcy or simply liquidated their assets and left for parts unknown.
1. Use your store gift cards fast while they are still worth something.
2. If the store holds a 'liquidation sale' skip the first few weeks of the sale. Wait until week four.

"He Who Hesitates Loses" warning also applies to identity theft.
1. You will be happy you took this warning if your wallet/purse is ever stolen. Make copies of all contents in your wallet front and back and record credit card phone numbers to report a loss. But if you have not, then look on the last statement and contact the credit card company as soon as possible. With identity theft, the sooner the better applies.
2. You should also report immediately to all three credit bureaus your cards have been stolen. this could be a savings of thousands of dollars.
3. You will also have to have a police report filed, again, timing in this particular process is important from your creditor's point of view.

"He Who Hesitates Loses" can apply to so many aspects of your daily living from the stock market to business opportunities. But our mission is to encourage you to think, learn your options and take action quickly because some savings just will not wait. There are expiration dates that you must heed to save. Most people would think that any investment that brought you a return of 20% was good, but in your local grocery are you taking advantage of the 10-20% savings offered through coupons ?

Coupon usage has become more popular as an effort to survive this depression. Coupons can easily save you 20% on your grocery bill. Groceries are not the only place to save with coupons. Your pharmacy, hardware store, home stores and online retailers are offering big savings such as www.Coupons.com and www.RetailMeNot.com and www.SelectCouponProgram.com. Come back and look for my lesson on "HOW TO Make Money Without A Second Job".

Spectrum Resource’s mission is to teach you how you can live inside your income. Please add our link to your favorites and come back often to : http://MoneySavingTips.PolkVoice.com and visit our sister blogs, each with different articles offering resources and options: http://FinancialEducationAndOptions.blogspot.com and http://SpectrumResources.wordpress.com or email us at SpectrumResources@tampabay.rr.com or call (863) 967-0660

Help Us Help Others with a $10.00 tax exempt donation to our financial education fund. In appreciation of your contribution, we will send you a FREE COPY of a book on daily money management from local author Janet Shore titled “Hey ! Where’s My Money ?”. Use the online check processor www.Checkman.com/pay4it/12985 or pay by money order mailed to: SRDC 2014 Brentwood Dr. Auburndale, FL. 33823