Layout:
Home > Archive: December, 2009

Archive for December, 2009

New Book - Chapter on Credit Scores - Part Two

December 23rd, 2009 at 01:23 pm

I am EXCITED and PUMPED about my new book for high school students, college students, and twenty-somethings - What Everyone Should Know About Money Before They Enter THE REAL WORLD.

To celebrate the release of this book, I am sharing one of the chapters of this book (see all of the chapter titles

Text is HERE and Link is http://www.josephsangl.com/whateveryoneshouldknowaboutmoney/table-of-contents/
HERE)

Here is another section of the "Credit Scores" chapter:

========================================================

Everyone Should Know ...

The key measurements that determine a credit score.

The credit reporting agencies are secretive as to how they calculate credit scores, but it is well known that credit scores are directly impacted by the following items:

Type of credit issued
- Revolving debt (credit card)
- Installment debt (anything with payments and a pay-off - car loan, boat loan, student loan, etc.)
Age of the credit relationship
Amount of credit one can obtain (total of all credit limits)
Amount of credit one has consumed (percentage of total credit limit)
Payment timeliness
Requests for credit
Outstanding judgments

According to FICO's publication, Understanding Your FICO Score, a FICO credit score is determined in the following way for the general population.


FICO scoring breakdown [from FICO's publication, Understanding Your Credit Score]


For people who are just establishing credit, it will be different since payment history is not yet available.

========================================================

More from this chapter tomorrow!

Read the entire series
Text is HERE and Link is http://iwasbroke.savingadvice.com/series-high-school-money-book/
HERE


Learn more about the book and PURCHASE YOUR COPY (released 12/15!) at its dedicated website
Text is HERE and Link is http://www.josephsangl.com/whateveryoneshouldknowaboutmoney/
HERE


Text is Read recent posts and Link is http://iwasbroke.savingadvice.com
Read recent posts

New Book - Chapter on Credit Scores - Part One

December 8th, 2009 at 01:08 pm

I am EXCITED and PUMPED about my new book for high school students, college students, and twenty-somethings -

Text is What Everyone Should Know About Money Before They Enter THE REAL WORLD. and Link is http://www.josephsangl.com/whateveryoneshouldknowaboutmoney
What Everyone Should Know About Money Before They Enter THE ...

This book has been in the works for over a year. Over that time, I sought out feedback from YOU, from people I have taught, and from my own experience.

My primary question for students was: "What confuses/scares/intimidates you most about money?"

My primary question for "older" people was: "What do you wish you had known about money before you entered the real world?"

The feedback was amazing, and I am SO EXCITED to have this resource to help us in our crusade to help others accomplish far more than they ever thought possible with their personal finances.

With that introduction, I want to share a portion of one of the chapters with you. It is about "Credit Scores".

========================================================

Everyone Should Know ...

Your credit score will have an impact on your life.

Credit scores are a measure of one's ability to manage debt. The dominant credit scoring system which is used by most lenders was created by Fair Isaac. This system provides a measure of an individual's credit worthiness and is commonly known as a FICO Score.

A credit score impacts many things. It determines whether or not you can obtain a loan. If you qualify for a loan, the credit score dictates the interest rate charged.

Credit scores also impact insurability. When you obtain auto, renter's or homeowner's insurance, the credit score directly impacts the insurance cost. The lower your credit score, the higher the insurance premium will cost. I have seen insurance premiums doubled because of poor credit.

Credit scores also impact the ability to obtain a cell phone contract or an apartment lease. It can affect utility connections. Utility providers usually require much larger deposits from people who have low credit scores. If you have an excellent credit score, a deposit might be waived entirely. Credit scores can even impact your ability to obtain a job.

========================================================

More from this chapter tomorrow!

Read the entire series
Text is HERE and Link is http://iwasbroke.savingadvice.com/series-high-school-money-book/
HERE


Learn more about the book and RESERVE YOUR COPY (ships 12/15!) at its dedicated website
Text is HERE and Link is http://www.josephsangl.com/whateveryoneshouldknowaboutmoney
HERE

Text is Read recent posts and Link is http://iwasbroke.savingadvice.com
Read recent posts

FREE Copy Of My New Book

December 7th, 2009 at 10:33 pm

After prompting from several of you, I am back to posting on SavingAdvice.com.

I am excited about what has gone on with this crusade to help others accomplish far more than they ever thought possible with their personal finances!

We have been able to teach nearly 50,000 in 2009 ALONE (that accounts for the silence on this blog!). I can't believe I get to do this stuff for a living!

My new book for high school students, college students, and 20-somethings called What Everyone Should Know About Money Before They Enter THE REAL WORLD will officially release on December 15th!

I wrote this book because I wanted to provide a resource to young people that will help them PREVENT financial mistakes because it is so much harder to CURE them later!!!

If you have a blog and would be willing to write a post about the book, I would be happy to send you a review copy. All you need to do is click

Text is HERE and Link is http://www.josephsangl.com/about/
HERE and provide the following information:
- Your blog address
- A name and shipping address
- A commitment to write about the book

Thanks so much to everyone who has made this book possible!

Text is Read recent posts and Link is http://iwasbroke.savingadvice.com
Read recent posts