Secrets to Save Money this Holiday

Secrets to Save Money this Holiday

Silent Night, Holy Night, all is calm, all is bright.”
Do you already hear carols inside the mall or in a café? Well, Christmas season is just a few days away.

Here are some secrets to save money this holiday!

Many people feel the holiday hassle thinking the gifts they need to give to their family and friends.

If it always leaves you out of pocket and spending more time shopping and haggling in malls, why not make it simple this year?

Plan your Budget

Decide how much you will spend.

Plan what meals you will serve on the Christmas eve.

If you will spend it at home with friends and family, do not overbuy food, know how many persons are coming and encourage them to bring a plate.

The persons who are coming can either bring a dessert or appetizer and you’ll serve the main meal as a host.

Regarding the gifts, you can opt not to spend as much as well.

You can do this by simply writing everyone’s name and how much is the budget for each of their gift. Say, for example, you want to spend $50 on each person and you find something worth $40 and voila! You save $10 from your pocket.

Or you can make a DIY gift, hop into Instagram or Pinterest to get some ideas for arts and crafts.

Put the effort into creating something personalized with a special dedication that has the right touch for the recipient.

It’s still the thought that counts right?

Make a Shopping List

Be organized by creating a list of everything that you intend to buy.

This ensures that you will only get the necessary items you really need.

Stick to your list so you can track how much is your spending when it comes to gifts and products you need in case you’re hosting a holiday celebration.

Make it to a point that if it’s not on your list, don’t buy it.

Do Online Research

Before going out and shop for the gifts, why not check it online first?

Get some ideas, list down how much it costs via online and how much it is from the mall.

If you already know what you’re getting, search them online instead of just going to one retailer’s website.

Also, most of the online shopping websites have a discount coupon if you’re new to them.

Just be mindful when shopping online, do extra precautions and read the terms and agreements.

Avoid credit

Bring enough cash and leave your credit cards at home.

It wouldn’t be hard if you have planned what you’re getting.

A little bit of discipline may avoid the bill shock in January.

money

 

Give to those less fortunate

Why not spread the Christmas spirit by giving to those who are doing it tough?

Consider donating to a charity. It doesn’t need to be money at all, you can donate old clothes, books, foods or toys.

Just make sure there’s no damage or it’s beyond repair especially if the recipients are children.

It’s a pleasure of being able to help without expecting on return.

After all, Christmas season is to reflect on the birth of Jesus.

Spend more time with your loved ones and appreciate the blessing we all received this year.

We’re excited to start the 2018 right by helping you and your clients improve your credits.

No Result No Fee!

Call us on 1300 436 569! Email us at info@creditfixsolutions.com.au or check out more articles.

The team at Credit FIX Solutions wishes you a Merry Christmas and a Prosperous New Year!

Get Rid of credit card debt Once and For All

Get Rid of credit card debt Once and For All

“A budget is telling your money where to go instead of wondering where it went.”

A study shows that Australians rank third highest in the world when it comes to household debt. Source: http://www.businessinsider.com

There are two types of debt, a good one, and a bad one.

What is a good debt?

A good debt is a kind of debt which will benefit your wealth in the long run.

For example, a student loan to fulfil your college dreams, and an investment property loans which will allow you to earn income for renting and re-sell at a higher price.

credit repair australia

What is a bad debt?

A bad debt is a debt where it decreases your wealth over a period.

This means, it can’t be used as an asset, and most of the time, you pay extra for the items that you can’t afford based on your salary.

The perfect example of this is using a credit card for unnecessary things, or to those that will diminish in value over time.

Whether you have a few hundred or many thousand owing on your credit card, below are some easy steps to start paying off the debt:

Figure out how much you owe

Collect all the credit card statements that you have.

Write it down or make a spreadsheet and list the balance and interest rate for each, you also want to know what your total amount of debt is.

Start a budget

Get organized. List down only the essential things that you need to buy in the grocery, followed by the bills you must pay and reduce your spending.

Does it save you money if you make your own meal at home instead of dining out?

Do you always pay extra to your Telco provider because you always exceed your data allowance?

Why not upgrade monthly plan?

Do what you need to do to minimise your spending habits. Remember, there’s a difference between Wants and Needs.

Make extra payments

Repaying the minimum required payment on your credit card will take years to repay and interest charges will top up to your debt.

If you pay more than $20 – $30 per month makes a difference when accumulated.

You may also choose to accelerate the debt off to save you hundreds or thousands of interests, terms may vary for every credit card provider.

Don’t Use Your Cards

This is the easiest way to eliminate your credit card debt.

Stop swiping until it’s all paid off. Leave the cards at home and always pay cash.

People tend to spend double when they’re paying with a credit card as opposed to cash payment. If you still use your credit cards whilst trying your best to pay your debt off, then you’re putting yourself into the burden.

Understand that credit card is not free money.

Get help if you need

At Credit Fix Solutions, we have expert advisers who can provide you with professional credit score repair services, build your credit, minimise your debt, and negotiate with collection agencies.

We will act as your advocate, meaning that all communications will come to our office on your behalf, leaving you free to get on with your life whilst we deal with the negotiations.

If you require assistance to negotiate any unpaid debts, contact us now!

No Result No Fee!

Call us on 1300 436 569! Email us at info@creditfixsolutions.com.au or check out more articles at https://creditfixsolutions.com.au/

Mortgage Broker: Zero to Hero

Mortgage Broker: From Zero to Hero

What is a Mortgage?

A mortgage is a loan used to purchase a house or a real estate. The property will serve as a collateral. The borrower and lender will go into an agreement regarding the payment terms.

It is normally paid monthly which includes principal, interest, insurance, and taxes.

What is a Mortgage Broker?

A Mortgage Brokers job is a matchmaking service.

They match the borrower with a lender.

The broker will gather your financial position such as your assets and liabilities, employment records, a credit report or any other information they will require to assess your ability to secure financing.

The broker will be the one to determine a suitable loan amount from the borrower’s ideal loan amount and will submit to a lender for approval.

The broker will communicate to the lender and borrower during the application.

mortgage broker credit repair

What are the Benefits of Using a Mortgage Broker?

A broker can save you so much time during the entire application.

All mortgage brokers have a list of numerous lenders to match the borrower with.  They also have a constant contact with different lenders that you might even know about.

These brokers can also help to find the greatest possible deals that may offer a borrower a more flexible payment terms with no hidden penalties and charge.

Most of the mortgage brokers don’t charge you because they are being paid by the lender. If they do, they normally charge a small percentage, generally between 0.5% to 2% of the loan amount.

What to Consider When Using a Mortgage Broker?

You’ll find a lot of options in the market if you’re looking for a broker. But what are the things to look out before hiring one?

Although brokers are required to meet a minimum education level before becoming qualified, these requirements are quite minimal.

Fortunately, there are national guidelines that brokers must adhere and to how they should deal with their clients/borrowers.

It would be better for the borrowers to become aware of the broker’s experience and how long has this broker been in the industry.

When a broker is already recommending a loan to you, make sure you ask why it would be the most suitable loan for you and why is it worth paying in a span of years.

The Bottom Line

Mortgage brokers can help you find the perfect loan to finally get your dream house. So, make sure that you will get an accredited mortgage broker before you apply for a loan.

If you are a borrower or a broker who has a client and was rejected by a lender because of a bad credit, we are happy to help you.

Contact us now!  No Result No Fee!

Call us on 1300 436 569!  Email us at info@creditfixsolutions.com.au or check out more articles at https://creditfixsolutions.com.au/

Best Ways on how to protect your Credit Report

Best Ways on how to protect your Credit Report

Nowadays, a good credit score is very important.

Loans are necessary to some of us, and it’s important you know the best ways on how to protect your Credit Report.

So, you might start building a good credit history and maintain a high credit score as it may affect the quality of your life and your future.

If you are planning to apply for a house loan for your dream house or applying for a student loan for your college, you should start to understand on how you can protect your credit report as early as now.

Below are three easy steps on the best way to protect your Credit Report:

  1. Monitor your credit score

What is a credit score?

A credit score is a number, it ranges from 0 to 1200.

Do you have a credit card? Or a loan from the bank? Do you pay those bills on time?

If your answer is yes, then you probably have a high credit score, which means you have a good credit.

But if your answer is no, then you might have a bad credit.

Low scores are around 300 whilst the high scores are around 700-850.

SPEAK TO A CREDIT REPORT EXPERT

How can I check my credit score?

  1. You can purchase a credit score from a National Credit Reporting Agency or other providers;
  2. You can ask your credit card lender or your financial institution if they offer a credit score;

Be Mindful of Identity Crime

In Australia, identity crime costs upwards of $1.6 billion each year, based on the report of Australian Federal Police.

These people will steal your personal information most likely for financial interests.

You don’t want others to apply for a credit card under your name and maximise your credit limit, do you?

These are some ways on how you can protect your personal information:

  1. Do not divulge your credit card information to someone over the phone or through email you don’t really know. You can have the email encrypted for better security;
  2. Do not use unsecured WiFi Hotspots or public computers to do an online bank transaction;
  3. When purchasing a product online, make sure that it’s a trusted online payment website;
  4. Review your Bank Statement;
  5. Check your Credit Report regularly to examine if there are fraudulent activity happening.
  6. Examine Your Credit Report Often

Check your Credit Report regularly to examine if there is fraudulent activity happening.

There are three reporting agencies in Australia, Equifax (Previously Veda Advantage), Dun and Bradstreet and the Tasmanian Collection Service.

You’re entitled to get one free copy of your credit report once every year from each of the three credit reporting agencies.

Or we can get you a copy by sending us an email.

Basically, your credit history has a great significance to lenders, credit providers and employers.

Lenders may use this to evaluate on how you manage your financial responsibilities before they can extend their services.

If you are currently suffering from a bad credit, we are happy to help you. Talk to an expert today! Call us on 1300 436 569!  Email us at info@creditfixsolutions.com.au or check out more articles at our website.

5 simple strategies to improve your Credit Rating

5 simple strategies to improve your Credit Rating

As a credit repair specialist our passion is helping as many people as we can.

To improve your credit rating and creating a clear credit history, allowing you to live a life of freedom.

This week, we sat down and thought about our top 5 strategies to improve your credit rating.

To improve your credit rating is something that anyone can do, but it does take time.

So having a little patience, we encourage you to try these five super simple strategies:

#1: Pay your bills on TIME

How can it get any simpler than this?

The objective here is by paying attention to ALL of your bills.

Not just the phone or internet bill that keeps you connected to your social media addiction.

If you do this with care, then everything else you build on top of it.

AND it will get you closer to a great credit rating and improve your credit rating.

If you have any issue with remembering to pay your bills on time, then do yourself a favour and set up automatic payments.

That way, you know with ease that your bills are being paid which will improve your credit rating.

Alternatively you can also set up reminders!!

However you will find that you have less stress and more time with automatic payments.

You will be surprised by how much you have paid by the time you actually do check your account.

Send a contact form to our team now

#2: Check your credit reports for errors

Something you have possibly heard before and if you haven’t, this could be a very positive step for you to follow to improve your credit rating!

If you happen to find a credit report error that is significant enough to lower your score, then this is like winning the lottery.

Of course, ALL errors should be fixed, but if you have one that is affecting your score, then you might get a boost and improve your credit rating shortly once the error is removed.

You are entitled to a free credit report from each credit bureau every 12 months.

If you need guidance on how you can obtain these then please don’t hesitate to send a contact form to us today and we can walk you through the process.

Or call 1300 43 65 69 to improve your credit rating today.

#3: Know your current bill status

Are you aware of what bills you have and when they are due?

Many people find themselves in a stressful situation when all of a sudden they have an unexpected bill.

They have instead spent the money to pay for the bill, on shoes, video games or other leisure items.

Does this sound like you and your need to improve your credit rating?

Be organised, set yourself a monthly budget.

Get the family involved in the process!!

This can be something as simple as an excel spreadsheet.

This can help you to know what you need to put aside for bills and how much you have left over to spend on the more enjoyable things.

Send a contact form to our team now

#4: Keep low balances on credit cards

Although we appreciate that credit cards are a valuable tool to assisting you in keeping up with those life essentials and whilst it’s an exciting time spending the money, it can be less exciting when you don’t keep up with your repayments.

Pay your credit card bill on time and keep your utilisation ratio under 30 percent.

If your ratio is higher than this, you can lose points from your credit score.

For example: You have a credit card with a $4000 credit limit.

If you have a $2000 balance, then you have a utilisation ratio of 50 percent. ($2000/$4000 = .50, or 50 percent).

This is quite high!

Again, know when your payments are due and ensure you keep ahead of these at all times. The last thing you want is being lumped with an excess amount to pay and lost points on your credit score.

Be smart when using your credit card, remember even though it seems like free money at the time, it is still your money that you have to repay in the long run.

All these tips will help you improve your credit rating dramatically.

Send a contact form to our team now

#5: Make two payments per month

Are you having trouble keeping low balances?

How about you outsmart the credit score by making two payments per month instead of just one?

This will not only keep you ahead of the game but in some instances like a mortgage, it will keep your repayments down and mean that you will pay less interest in the long term.

Wouldn’t it feel nice to pay your mortgage off years earlier than what you originally thought?

By being diligent and organised, this thought can definitely become a reality.

For more budget help and financial planning assistance and to improve your credit rating, then you can head to https://www.moneysmart.gov.au/

Send a contact form to our team now   OR Ph: 1300 43 65 69

*Please note that this article is not considered financial advice and is based on opinion only.  

For more budget help and financial planning assistance and to improve your credit rating, then you can head to ASIC’s Website: https://www.moneysmart.gov.au/

Debt consolidation programs

Debt consolidation

True debt consolidation programs in Australia can be tricky to find.

There are companies advertising debt consolidation services that are masked Part 9 bankruptcies and they are not the only debt consolidation programs available.

These companies promise to stop the phone from ringing….

Unfortunately, they don’t tell you that they’re actually putting you into a part 9 bankruptcy that stays on your credit report for 7 years.

This is not a true debt consolidation program and can ruin your chances for finance for years to come.

Want to apply for debt consolidation or credit repair?  Watch this short video on HOW TO!!

3 easy steps to fix your credit today!

So what is a real debt consolidation program and where can you find one?

Follow these 4 simple steps to find a trustworthy debt consolidation program:

  1. Get a referral

Do you have a trusted financial advisor, or maybe finance broker?  Many professionals have a hub of experts that they can refer you to free of charge.

If you don’t have a financial advisor, find one in your local area, and ask them about a debt consolidation program.

To be referred by someone you trust or a trusted professional in your area is a lot safer than calling any company you find on the internet.

  1. Do your research before you apply

Before you sign up for any debt consolidation program do some research online to find out what services are out there.

A great place to research about finance is at www.moneysmart.gov.au, a government website that offers information on consolidating and refinancing debts.

This website also offers other great information on budgeting and other areas of finance.

Contact our team today to find out about our debt consolidation program.

  1. Be wary of TV ads offering to stop the phone ringing

Case Study:  Belle had $10,000 in personal debt and had just separated from her husband.  However, she had a great job and could still afford rent, she just wanted to consolidate all her debts.

Belle saw an ad on TCV offering to consolidate her debts.

She applied online and was told that she would be put into a 4 year payment plan.

Belle thought this was great, and submitted her application.

However, what Belle didn’t realise was that the payment plan was actually a Part 9 debt agreement.

This is a form of bankruptcy.

For $10,000, Belle now had a bad credit rating for the next 7 years and could not borrow any money.

When she met her 2nd husband, they couldn’t buy a home and had to stick to renting.

Be careful of Part 9 debt agreements that are disguised as payment plans.

A true debt consolidation program will not any form of bankruptcy.

  1. Look at your budget with your family

Often a debt consolidation program can be started at home.

We suggest sitting at home with your family and writing out your budget so you can work out a reduction of expenses.

Maybe you can decrease your spend on entertainment?

Or transfer a credit card to a no interest card to start paying it off sooner?

Follow these steps above, get some professional advice from your trusted financial advisor, and we hope you find the best debt consolidation program for you and your family.

Please send us an email if you would like more information.

Or call or team of credit repair experts today at 1300 43 65 69.

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