What Is CoreScore – New Credit Report From CoreLogic

corelogic logoIn the world of consumer credit scoring, there’s always something new, more “accurate,” and even more intrusive than the credit reporting that has preceded it. One of the latest attempts to delve into consumer behaviors and reduce them to a single number is the CoreScore from CoreLogic.

The CoreScore promises to base its score on a new consumer credit report that looks at “non-traditional” data that might not be included on a traditional credit report from one of three major credit bureaus: Equifax, Experian, and TransUnion. By considering information not included in current credit reports, CoreLogic expects to provide lenders – especially mortgage lenders – a more complete picture of your financial habits.

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What Is a Spousal IRA – Rules, Eligibility & Benefits

are you eligible for the spousal ira?If you are a stay-at-home spouse, it seems unfair that you can’t build up a retirement account in your name. After all, one of the requirements of opening an Individual Retirement Account (IRA) is that you need earned income. For those who stay home, though, this is actually a myth – and one that could cost you.

The truth is that the IRS makes an exception for married couples that want to boost their household retirement savings while providing a stay-at-home spouse the ability to build a nest egg. This arrangement is often referred to as a “spousal IRA.”

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What Is Cyber Monday – Get the Best Online Shopping Deals

cyber monday shoppingMany people associate the day after Thanksgiving with Black Friday shopping. However, thanks to the Internet and the ability it gives us to shop from home, you can still score great deals once Black Friday has ended.

In fact, one of the biggest shopping days of the year is the Monday after Thanksgiving. But this day isn’t known for shopping at brick-and-mortar stores – on this day, it’s all about the Internet.

The Origin of Cyber Monday

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What Is Black Friday – History of the Holiday Shopping Phenomenon

black friday salesIn November, many bargain hunters’ thoughts turn to the day following Thanksgiving. On the fourth Friday of the month, shoppers across the United States take advantage of widespread bargains and scramble for Black Friday doorbuster deals, deeply discounted products available in limited quantities.

Black Friday is the biggest shopping day of the year and the official kick-off to the Christmas shopping season.

So where did this tradition come from, and is Black Friday really that big of a deal?

History of Black Friday

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How Back Child Support Works – Paying or Collecting

child support checkOften, in the case of divorce, one parent pays child support to the other parent, in order to help with the costs of raising a child. The United States, along with many other countries, insists that children have a right to receive financial support from their parents. As such, the non-custodial parent does his or her duty toward providing financial support for the child by paying child support money to the custodial parent. Joint custody cases involve two custodial parents, but one must still pay child support to the other.

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Using Headhunters & Career Counselors to Get a Job – Is It Worth It?

headhunter jobWhen looking for a job, you need all the help you can get. Having an inside track can help you conquer a tough job market, especially when dozens of people apply for the same position.

A headhunter or a career counselor can provide you with an advantage in a competitive job market. These professionals help you to improve the way you present yourself to potential employers, and assist you in finding positions not advertised online or in newspapers.

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11 Ways to Teach Kids How to Save Money

boy money billsMy son loves saving money. He loves to watch the pile of coins and dollar bills grow in his big, re-purposed pickle jar and he loves emptying out this ceramic “cash cow” to take his money to the credit union – and receive a prize.

Watching his money pile grow and receiving prizes are two things that inspire my son to save. But there are additional ways to motivate your child to start saving.

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How to Set Up an Allocated Spending Plan

calendar pen calculatorTracking what you spend is an essential element to financial planning. But it is most valuable if you use the information to better direct your financial resources going forward.

One way to do this is to create an allocated spending plan. With such a plan, you decide where every dollar you make goes before you spend it. The ultimate objective is to have a purpose for all of your money and to optimize your cash flow to best meet your long-term financial goals.

How the Allocated Spending Plan Works

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What Is Child Support – Laws & Guidelines for Payments

divorce decree moneyAccording to the National Center for Health Statistics (NCHS), about 41% of first marriages end in divorce. For second and third marriages, that number increases to 60% and 73%, respectively.

Single parents with children should have a basic understanding of child support. Unless parental rights have been legally terminated, every parent in the U.S. must contribute financially to the raising of his or her child.

What Is Child Support?

Child support is the financial obligation you have to support your child as he or she matures. If you have custody of your child, the courts assume that you fulfill your financial obligation. If your child does not live with you, however, the courts may require that you pay child support to the custodial parent.

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How to Start & Build Up Your Emergency Fund in Savings

emergency red arrowFive days before Christmas last year, the downstairs area of my house flooded with groundwater. While the experience wasn’t fun, we were fortunate in that it wasn’t a budget disaster.

Many of our neighbors asked us how we were we able to handle the $2,300 in costs that came with damages associated with the flood.

The answer: our emergency fund.

What Is an Emergency Fund?

One of the central tenets to good financial planning is preparing for the future, whatever it may bring. Therefore, an essential component of a solid financial plan is an emergency fund.

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