Authentically Nita

Building a good credit score is a crucial step towards financial stability, helping you secure loans, credit cards, and other financial benefits. It influences your mortgage rates, auto loan premiums, and even job opportunities. Conversely, a low credit score can limit your access to credit and increase your loan costs. If you're looking to raise or improve your credit score, there are steps you can take to improve it. In this blog post, we'll discuss seven steps to help boost your credit score. Review your credit report The first step to improving your credit score is to review your credit report. Obtaining a copy of your report from Equifax, Experian, or TransUnion every year is free of charge. Look for discrepancies or errors and dispute them. These errors can hurt your credit score, and it's essential to correct them early. Pay bills on time It's essential to pay all your bills, including credit card payments, loan installments, and utility bills, on time. Late paym

When it comes to relationships, there are certain topics that are often avoided, such as politics, religion, or even money. However, the latter is a crucial aspect in any partnership that can greatly influence the dynamics and longevity of the relationship. In particular, women tend to keep financial secrets from their partners early on, which can lead to misunderstandings, mistrust, and debt. As Manisha Thakor, a financial expert and co-author of “On My Own Two Feet,” advises, it’s important to be financially naked with your partner and have open and honest conversations about money. In this blog post, we’ll explore why financial honesty is crucial for relationships and how couples can improve their communication and management of finances. Photo by Mikhail Nilov   The first reason why financial honesty is critical in relationships is that it sets the foundation for trust. If one partner conceals their debt or overspending habits, it can lead to a power dynamic where they hold the fin

Are you looking to buy your first home? Here are some tips that are essential and that can help you avoid commons mistakes first time home buyers make. Photo by Kindel Media Get pre-approved for a mortgage: Starting your home search without a mortgage pre-approval can be discouraging and time-consuming. Boost your reputation as a buyer and understand your budget by getting pre-approved. Consider all expenses: Don't just focus on the down payment and mortgage payment. Remember to account for closing charges, taxes, insurance, and upkeep costs. Being aware of these expenses will prevent future financial hardship. Shop around for the best mortgage: Don't settle for the first mortgage offer you come across. Take the time to research and compare offers from different lenders. You might find better terms or lower interest rates that can save you money in the long run. Don't skip the home inspection: Neglecting a home inspection can lead to unexpected costs down the line. It'

Money management is key to building and maintaining wealth. And as women, it's important that we pay close attention to our finances and invest them wisely. One of the best financial tips that I've learned in my personal journey is to use different accounts for different purposes. By using this simple yet effective method, you can easily manage your money and reach your financial goals faster. How to set up different accounts: The first step is to determine which areas of your life require financial planning. This may include a retirement account, an emergency fund, a vacation fund, and so on. Then, open a separate account for each of these goals. Most banks offer free savings accounts, so take advantage of them. Once you have set up each account, determine the percentage of your income that should be allotted to each account. The benefits of using different accounts: By using different accounts, you can easily track your spending and savings. Each account is designed for a spe

When it comes to personal finances, creating a realistic budget is the crucial first step towards financial stability. It's a simple yet powerful tool that can help manage your finances and align your expenses with your income. In this blog, we'll guide you through a step-by-step approach to creating a realistic budget and help you step up your saving game! Photo by Tima Miroshnichenko   Calculate Your Monthly Income The first step in creating a realistic budget is to track your monthly income. This includes your salary, any additional sources of income, and bonuses. Make sure to consider all sources of income you receive each month, so you can accurately assess your financial standing. Identify Your Fixed and Variable Expenses The next step in creating your budget is to identify and categorize your expenses. Fixed expenses are those that stay the same each month, such as rent, insurance, and car payments. Variable expenses change from month to month, such as groceries, enterta

For many women, retirement may seem too far away to start saving for it now. Alternatively, some women feel like they may not have enough money and therefore can't afford to save for retirement. As a result, most women tend to postpone their retirement savings until later in life, which can lead to formidable financial struggles when they retire. While it may seem difficult to start saving for retirement right now, the earlier you start, the more time your money has to grow. In this blog post, we will discuss why every woman should focus on retirement savings, regardless of their age or current financial status. Retirement is Expensive The cost of living continues to rise every year, which means that the cost of health care, housing, and daily expenses will only increase as well. Retirement can span anywhere from 20 to 30 years, which is a considerable amount of time that requires substantial savings. Therefore, the earlier you start saving, the better your chances of keeping your

No one feels good about a debt collector breathing down their necks, but it happens. If you are lagging behind on your bills, it should not be surprising when you hear from a collection agency. If you do get a call from any such agency, it is better to get them off of your back as soon as possible. But in the meantime, while they are dialing you up every other day, there are likely some important facts they haven't told you. This article will disclose some of these undisclosed facts that everybody dealing with a business collection agency should know. The following facts have been provided Claire Johnson, a personal finance lawyer: You are not obligated to communicate with a collection agency :  A business collection agency does not have the right to harass you with their collection calls. However, it is advised not to ignore the initial calls, or any summons from the court. If you report a dispute, regarding the debt or a part of it, within 30 days of getting the first call, the c

Photo by Yan Krukov   Cash Advance apps offer people the ability to borrow small amounts of money in the form of cash advances. Some may have additional features, such as credit-building, saving and budgeting tools, and bank accounts. Most require a monthly membership fee and/or service fees that will be deducted from your account at the same time as your advance repayment. You will need to have a bank account with direct deposit from your employer in order to use these apps. Here is a list of nine, no hassle, Cash Advance apps you can use to get from pay check to pay check. Before I list them, I want to advise against using these apps unless it is an emergency. These should only be used every once in a while. If you are having problems getting from paycheck to paycheck, there is likely a bigger issue at hand. I recommend going over your income and expenses and watching your spending, or getting a second job. Click here for the budgeting app that I use and how it

Top 5 things to remember to speed tax return processing and avoid delays! 1. For an accurate return, collect all documents before preparing your tax return. In addition to collecting W-2s, Form 1099s and other income-related statements, it is important people have their advance Child Tax Credit and Economic Impact Payment information on hand when filing. 2. File an accurate return and use e-file and direct deposit to avoid delays. Taxpayers should electronically file and choose direct deposit. 3. Use online resources before calling the IRS. Phone demand on IRS assistance lines remains at record highs. To avoid lengthy delays, the IRS urges people to use IRS.gov to get answers to tax questions, check a refund status or pay taxes. 4. In order to validate and successfully submit an electronically filed tax return to the IRS, taxpayers need their Adjusted Gross Income, or AGI, from their most recent tax return. For those waiting on their 2020 tax return to be processed, enter $0 for l

If you're not already budgeting, you should start now. Budgeting can be a great way to keep track of your family's expenditures and evaluate where you spend the most money.  What is a budget?  A budget is an estimate of how much money you’ll make and spend over a certain period of time, (usually a month). A budget will tell you if you can spend less money on some things and more money on other things. It will help you manage your funds to ensure there is enough money for paying bills and living expenses. It can also help you get out of debt, and create a plan for  saving.  Follow these six simple steps to create a budget:  1.  Gather three months of your pay stubs and get your average monthly earnings. 2.  Get out your bills for fixed expenses such as rent, phone bill, car payments and other loans that come monthly. 3.  Take out three months of your credit card bills. Add them up and get the average. 4. Create a list of your monthly living expenses such as groceries, clothing,

I want encourage everyone to use this portal and keep your contact information updated.  IRS.gov Online Account It can be used for a number of the things including the following: Viewing your balance Viewing and creating payment plans Accessing tax records Managing communication preferences Viewing notices and letters For 2022, one of the most significant uses of this portal will be for individuals to securely access their child tax credit payment amounts and/or to access their economic impact payment amounts.   The IRS will mail out forms 6419 and 6475 with this information but if you do not get the form in the mail this is another way to access the information. 

Three key items from the IRS that you should consider when filing your taxes in 2022.  1. Changes to the charitable contribution deduction Taxpayers who don't itemize deductions may still qualify to take a deduction for charitable contributions made in 2021 to qualifying organizations. Married taxpayers filing jointly can deduct up to $600, and all other filers can deduct up to $300.  2. Advance child tax credit payments If you received the advance child tax credit payments in 2021, you will need to compare the amount of payments you received in 2021 with the amount of the child tax credit that you can properly claim. If you received less than the amount for which you are eligible you can claim a credit for the remaining amount. If you did not get the monthly advance payments in 2021 you can get a lump-sum payment by claiming the child tax credit when filing your  return. This includes families who don't normally need to file a return. Note : In January 2022, the IRS will send

Everyone deserves a chance to build credit! Whether you’re establishing credit for the first time, or building towards the score you want you can do that with a Capital One Platinum Card. This is the exact card I got when I began working on my credit after my divorce.  See if you're pre-approved in less than 60 seconds with no impact to your credit score by using my referral link: Capital One Platinum card

Many consumers are overwhelmed by accumulated debts. In most cases, the problem creeps up gradually, until the total debt load reaches unmanageable proportions. Sometimes even minor problems such as temporary illness can tip the balance for the heavily indebted because they have no savings on which to fall back. Here are some suggestions to help ease the debt burden. Credit Cards If you know you are tempted to overspend on credit cards, leave them at home when you go shopping. Pay with cash and you will not have the temptation to overspend. Develop a Budget To take control of your financial situation you must have a realistic assessment of how much money you earn and how much money you have left over to spend. Calculate your total income, then list your "fixed" expenses - those unescapable charges you incur every month - like mortgage payments or rent, car payments, and insurance premiums. Next, list optional expenses such as entertainment, recreation, and clothing. Writing d