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

HERE)

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

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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.




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

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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

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 ...

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".

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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 HERE

Read recent posts

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

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!

Read recent posts

I announced

HERE that I am in the process of writing my next book. It will be a book that is addressed to high school students, and I am sharing 12 Things I Wish I Had Learned About Money Before I Hit The Real World.

That is not necessarily the title, and it might end up being 10 things or 15 things. All I know is that I want (and need) your help in writing this book!

For the next few days, I am going to ask you to take a couple minutes of your time and share some things you wish you would have learned about specific money topics.

Part Five Financial Decision-Making

Here is the question that I want to hear your thoughts on today:

What is the best financial decision you have ever made? What led to that decision? How would you teach young people to make that type of decision?

Share stories!

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

Read entire series

I announced

HERE that I am in the process of writing my next book. It will be a book that is addressed to high school students, and I am sharing 12 Things I Wish I Had Learned About Money Before I Hit The Real World.

That is not necessarily the title, and it might end up being 10 things or 15 things. All I know is that I want (and need) your help in writing this book!

For the next few days, I am going to ask you to take a couple minutes of your time and share some things you wish you would have learned about specific money topics.

Part Four Financial Decision-Making

Here is the question that I want to hear your thoughts on today:

What is the worst financial decision you have ever made? What led to that decision? How would you teach young people to avoid that type of decision?

Share stories!

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

Read entire series

I announced

HERE that I am in the process of writing my next book. It will be a book that is addressed to high school students, and I am sharing 12 Things I Wish I Had Learned About Money Before I Hit The Real World.

That is not necessarily the title, and it might end up being 10 things or 15 things. All I know is that I want (and need) your help in writing this book!

For the next few days, I am going to ask you to take a couple minutes of your time and share some things you wish you would have learned about specific money topics.

Part Three Debt

Here is the question that I want to hear your thoughts on today:

What were the first debts you ever obtained, and how did they impact your financial situation?

Share stories!

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

Read entire series

I announced

HERE that I am in the process of writing my next book. It will be a book that is addressed to high school students, and I am sharing 12 Things I Wish I Had Learned About Money Before I Hit The Real World.

That is not necessarily the title, and it might end up being 10 things or 15 things. All I know is that I want (and need) your help in writing this book!

For the next few days, I am going to ask you to take a couple minutes of your time and share some things you wish you would have learned about specific money topics.

Part Two Impulsiveness

Here is the question that I want to hear your thoughts on today:

How have impulsive financial decisions impacted your overall financial situation? Share stories!

I announced

HERE that I am in the process of writing my next book. It will be a book that is addressed to high school students, and I am sharing 12 Things I Wish I Had Learned About Money Before I Hit The Real World.

That is not necessarily the title, and it might end up being 10 things or 15 things. All I know is that I want (and need) your help in writing this book!

For the next few days, I am going to ask you to take a couple minutes of your time and share some things you wish you would have learned about specific money topics.

Planning Your Spending

Here is the question that I want to hear your thoughts on today:

What do you wish you would have known about planning your spending by the time you graduated high school?

Share your stories in the comment section!

I do not know what the title will be yet, but it will be something like:

12 Things I Wish I Had Learned About Money Before I Hit The Real World

It is our passion to help others accomplish far more than they ever thought possible with their personal finances. In

I Was Broke. Now I'm Not. (and its related Group Study), I told my story of walking out of financial disarray, and I teach the tools we used to become debt-free. It is mostly focused on providing a CURE for an existing negative financial situation.

In this new resource, we are focusing on PREVENTION of negative financial situations. I know that I went through twenty years of formal education (13 years of K-12, 4 years of undergrad, 3 years of grad) and I had exactly zero classes on personal finances. It is my hope that we can provide a resource that can be utilized in schools and in churches to teach high school students how to manage their financial resources well.

I need your stories! For the next five days, I will be asking a series of questions about what you think teenagers need to know about money before they hit the real world.