March 25th, 2011
Friday Roundup: Credit Karma & Housing Market News
The housing market isn’t booming yet, and is far from it. But it is showing signs of life with housing prices decreasing and more people looking to buy.
Kiplinger suggests that the uptick in the housing industry is a sign of national economic growth this year.
As we assess signs of life in the nation’s economy, what are some positive signs of life in your own credit health? Let’s consider a few.
Your debt is decreasing. As your household economy continues to improve, you’ll be able to pay off more debts by taking steps toward zero debt. Less debt is a significant positive sign for your credit health.
Make a plan to pay a little more on your debts per month than you already are, and complete that goal faster.
There’s a hard inquiry on your credit score. It might sound counter-intuitive, but a hard inquiry (read: one, not many) can indicate that you’re ready to vary your credit usage.
Maybe you find yourself in the position to apply for a mortgage so you can buy a home, or maybe it’s as simple as opening a credit card. Either way, if you use the credit you’re extended responsibly, you can improve your credit health.
Your savings is increasing. A positive sign of individual financial growth is the ability to put more money away for the future. It might mean you have less to spend now, but saving for later will help grow your money over time.
Maybe you’re saving for a car, a home, or your kid’s college tuition. Whatever your reason for your savings, you’ll be happy with your smart money moves in a few years or even months from now.
Bottom line: Take a look at your finances from one year ago. If you can recognize positive growth based on these three indicators, congratulations! You’re on the road to a happier credit life. If you’ve been stagnant but are ready to take the plunge to pay off those bills or save a little more, start today! There’s no time like the present, and a year from now you’ll be able to look back and reflect on how much you’ve grown.
Check out today’s Roundup, where you can read up on three new trends in credit and how they affect you, how to save $50,000, home inspection tips, and more! Enjoy the weekend, from your pals here at Credit Karma!
Credit Karma News
- Loan Zone: The Power of Credit Scores. When it comes to loans, consumers are missing a big piece of the puzzle that can make or break their lending options. Credit scores influence interest rates, loan terms and the difference between approval and rejection on an application. It’s an important component of a consumer’s financial profile. CUES
- 3 New Credit Trends and How They Affect You. Credit card companies are in the business of making money, and they use all the techniques at their disposal to make sure that whatever you borrow from them, you’ll be paying back ten-fold. Money Crashers
- How to Hack Your Credit Reputation. You can receive free credit scores from Credit Karma. AnnualCreditReport.com serves as a gateway that links you out to each of the bureaus individually, and they may try to sell you some of their products on those sites. Lifehacker
- Credit card debt down 15%, but credit scores are worse CreditKarma in San Francisco, which tracks such things, said nationwide average credit scores are down four points from a year ago. A lower credit score is worse. San Francisco Business Times
- Best Money Tips: Save on Takeout. Welcome to Wise Bread’s Best Money TipsRoundup! Today we found some awesome articles on ways to save on takeout, commonly overlooked tax breaks, and how to make your dreams a reality. Wise Bread
Housing Market News
- Housing Bust: Five Years And Counting. It’s been five years — five years! — since home prices peaked. And the bust is still grinding on: too many houses for sale, not enough buyers, falling prices. Sales of newly built homes hit a record low last month, according to figures out today. Sales of existing homes also fell, according to numbers released on Monday.
Planet Money - Should You Buy a House Now Before Rates and Prices Go Up? Whether you’re looking to buy your first home or you recently sold your house you might be pondering buying a new house in the near future. Rates are at historic lows, and the housing market has taken a pounding over the last few years. No Debt Plan
- Save $50,000: Chop your mortgage You may think you’ve done it all: You’re careful with a buck, don’t overindulge, and stash away as much as you can for future goals. But while it may not seem as if there’s any more you can comfortably squeeze from your budget, there are ways to save more — 10 pretty painless ways, in fact, to save $50,000 or more in almost every aspect of your life, from your everyday bills to your taxes and investments. CNN Money
- Home Inspection Tips & Checklist – What’s Included?. So, are you selling your own home or in the market to buy a new home for yourself? Guess what — you’re going to need a home inspection done by a qualified professional prior to completing the sale or purchase. My Two Dollars
- Why I Won’t Pay Off My Mortgage Until I Retire. Having a mortgage is a wonderful thing. In fact, I owe much of my work longevity to my mortgage. When I was 24, I came across a lot of cash due to a couple good stock picks. Financial Samurai
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