Budgeting & Saving

How to Fix Bad Credit?

Wondering how to fix my credit myself? Or how to fix bad credit? There’s no doubt that living in the modern world requires credit. Yes, you can live without a credit card and survive on cash or cashback debit cards.

I know because I did it for over two years as I paid off credit card debt. But what I really wanted to do was improve my credit score immediately.

However, when you are ready to buy a house, you’ll need to get your credit straightened out. In this post I’ll discuss getting a credit repair service as well as what steps you need to take if you decide you want to fix your credit score yourself. You might even be able to fix your credit in just 6 months.

These steps are so easy. Perfect guide for do it yourself credit repair.

Related articles from our approved partners:

How Can I Fix Bad Credit Myself? – 6 MonthCredit Repair Guide

First, watch this video from my friend Dominique over at Your Finances Simplified. He’s going to tell you exactly how to fix your credit.

Watched the video? Good.
Feeling overwhelmed at the next steps?
Yep. I understand.
Let’s take this step by step.

Take a deep breath. People think that having bad credit is the worse thing that can happen. But just calm down. You are taking the first steps which puts you on the right track.

Remember, it’s just money.

No one is going to die. Take control and get back in the driver’s seat!

Fix 1: Check Bad Credit

The first thing you’ll need is your creditor information. Get the most recent credit card statements, loan balances, and installment loan reports along with addresses and phone numbers. I recommend printing everything old-school style. It’s going to come in handy later.

Fix 2: Get a Free Credit Report

Then, take a second to get your free credit report from Each year you are able to pull your credit report for free from the three providers Experian, Equifax, and Transunion.

Optional: Get Your Free Credit Score

You can check an approximation of your credit score for free at Credit Sesame one of our approved partners, but if you are trying to fix your credit, you probably already know your credit score looks a little like this….

bad credit personified

But that’s ok. We’re going to put you on the good foot.

Fix 3: Review your credit report for errors (highlight each error).

You’re getting ready to take charge and stop being a victim. Most people don’t even realize what they could get removed from their credit just because of errors.

What should you look for?

Wait a minute. So, you’re telling me you didn’t watch the video above?

Scroll back up for me right quick and you’ll find out exactly what you should look for.

Or keep reading…

Dispute incorrect names, addresses, SSN, and date of birth via the certified mail.

You will need supporting documentation and letters. You will have to write a dispute letter and include the specifics of the inaccuracies. You want to dispute inaccurate, erroneous, outdated, misleading, and unverifiable information in your credit reports.

Tired of being harassed by your creditors? Maybe you’d prefer that someone else handle all of this for you?

In that case, you might was to work with a credit repair company to improve your credit.

Are you ready to…

  • Remove bankruptcies to rebuild credit?
  • Permanently delete foreclosures and repossessions?
  • Erase debts that were in collection?
  • Completely get credit cards under control?
  • Get approved for loans?
  • Get the best financing on cars and homes?

In that case, check out our partner Lexington Law for more details on how they can help you clean up your credit report.

Finally, fixing your credit permanently also means creating good habits and getting out of debt.

How getting out of debt is like the MTV show, I Used to Be Fat.

I used to watch this TV show on MTV called I Used to Be Fat. The show documents young adults, usually high school seniors and high school graduates who want to lose weight before they start college. Each episode features a different teen. I absolutely LOVE this show. I like seeing the determination and perseverance of these kids, they are really focused on their goals. Most of them thought about quitting along the way but each one makes it to the end and they usually reach their goal.

I was thinking the other day about how the TV show is very similar to a battle with debt. When you’re in debt, it can feel like you’re carrying around a second person, experiencing frugal fatigue, or that you have a spare tire of bills around your waist. I know because I’m working on getting out of debt myself. I realized that there are 3 major points we can learn from the MTV show I Used to Be Fat when trying to take control of our debt.

Improve Your Credit Step 1 – Give Yourself a Deadline

Before the teens even begin a weight loss program, their coach/personal trainer gives them a large tear off number calendar to place on their wall. It has the total number of days until their program completion date, and every day they rip off the next number.

It is a good idea, when you are paying off debt, to set a deadline for your debt-free date, like 6 months. Setting a deadline is a way of making your goal specific. Every time you look at that calendar or see that date it will push your brain consciously and subconsciously to make it to your ultimate goal, to reduce spending and get out of debt.

Improve Your Credit Step 2 – Check in Regularly with a Coach

Every week, the kids had a weigh in. Their personal trainer was making sure that they were on track with how much weight they were supposed to be losing at each stage in the process. Sometimes they were attempting to lose one pound a day! I never thought that was possible or healthy, but most of the teens actually accomplished it under the supervision of their coach.

If you really want to prioritize your goal of becoming debt free then you really have to give yourself check points. You can enlist the help of a friend or even a debt counselor to help you along the way. Having a good support system can make all the difference.

Improve Your Credit Step 3 – Get Rid of Old Habits and Create New Ones

When one of the teens was at a restaurant with her friends, she ordered a lean meal instead of the greasy french fries that her friends had. The personal trainer also taught her how to cook healthier meals so that she would be able to maintain her new lifestyle change.

Becoming debt-free is not a one-time goal. It has to be a lifestyle change. When I decided to start getting out of debt, I had to first evaluate why I was in debt in the first place. I had to eliminate my habit of impulse spending and replace that habit with a good habit. Now I impulse buy stocks and my portfolio loves it! It’s not easy to change a habit that took years to cultivate, but with a good support system, it is entirely possible.

Are you ready to make a change?

Some of you may be thinking, I’m still young, so why should I care about my credit score? Lots of people have debt and less than stellar credit, but they’re still enjoying a cushy lifestyle. As long as I’m able to buy the things that I want, why should I be concerned? The answer is simple. Life is easier when you have good credit.

Take a look at it this way. Landlords, employers, and lenders need to determine whether they can trust you, and they look at your credit score as an indicator of your financial reputation. You may not think credit affects you greatly, but it does. When you ruin your financial reputation (a.k.a. credit score), it will take you a long time to restore it.

Poor credit affects your ability to rent, buy a car, get a home loan, and even open up accounts. Creditors don’t want to work with people with bad credit because the risk of not getting paid is very high. How can they trust that you will pay them back if you haven’t even paid others? If you’ve already tarnished your credit, here are some tips to help you fix your credit score and reestablish your life.

Improve Your Credit Step 4 – Make Your Payments on Time

This may sound trivial, but we all know that money can be tight, and skipping payments on one bill can help pay for other expenses. But, timely payments are the biggest factor affecting your credit score. Keep a budget, and make sure you have sufficient funds to make your credit card and loan payments on time.

Improve Your Credit Step 5 – Consider Getting a Secured Credit Card

Obviously, it will be very hard to get a regular credit card if you have bad credit. If you don’t qualify for a credit card, you can get a secured card instead. This is when the bank gives you a credit line equal to the deposit you make. If used wisely, a secured card can help nurse your poor credit to better health.

Improve Your Credit Step 4 – Add an Installment Loan

You can improve your score quickly if you show that you can be responsible for both major kinds of credit: revolving (credit cards) and installment (mortgages, auto, student loans, etc.). If you don’t have an installment loan and feel you are ready to handle one, consider adding a small personal loan. Stay away from expensive finance companies and “teaser” deals, and use a company that reports the loan to all three credit bureaus.

Improve Your Credit Step 5 – Avoid the Minimum Payment Trap

Credit cards come with high interest rates. We all know how our $2,000 computer ended up costing $8,168 because we only made the minimum payments at 20% on our credit card. Ouch, that hurts! Keep constant payments on your credit card (and don’t run them up again) and your balances will drop.

Improve Your Credit Step 6 – Use Your Credit Cards Lightly and Check Your Limits

Even if you pay your bills on time and in full each month, having big balances can hurt your score. Try to limit charges to 30% or less of your card’s limit. Lenders typically like to see a big gap between how much you’re charging and your available credit limit.

Improve Your Credit Step 7 – Keep Old Credit Cards

Don’t close out old credit cards. The longer your credit history, the better. Leave the accounts open but once you pay them off, stop using them. Closed accounts tend to bring down your score.

Improve Your Credit Step 8 – Suspend Credit Inquiries

The more credit inquiries you have, the more your credit score drops. Fix your credit and wait a while before allowing your credit to be pulled again.

Improve Your Credit Step 9 – Get a Goodwill Adjustment

If you have been responsible about paying your credit cards on time, the lender may agree to erase a late payment from your credit history. For more troubled accounts, communicate with your lender about possible options to erase previous delinquencies. If the lender agrees, it will improve your overall record.

Improve Your Credit Step 10 – Check Your Credit Report for Errors

You can check your credit report without negative scoring (once per year, for free) with the three credit bureaus at Make sure to look for any mistakes that could be hurting your score. If you see something wrong, make the effort to have it corrected.

Improve Your Credit Step 11 – Seek Professional Help

If you are overwhelmed with debt and don’t feel you can handle the problem on your own, consider working with a professional debt relief agent. They can help you explore your options and give you guidance on this post

It’s very easy to ruin your credit, but it takes time to build it back up. No matter how bad your credit is, you can take steps to make it better.

Sometimes we mishandle our budget, and we spend more than we should. (You know that you shouldn’t have bought that expensive flat screen TV). And, sometimes we end up in tough financial situations because of things beyond our control. Whether you have experienced job loss, illness, or another type of financial disruption, it’s important to know that you can turn things around.

It may not be easy, but step by step, you will be able to fix your financial situation. Just don’t delay facing the issue. The longer you wait, the harder it is for you to recover.

Budgeting & Saving

6 Finance Apps Help College Students Embrace Geekness #MoneyNerdsUnite

These days, it’s harder for people to keep track of their budgeting and finance on pen and paper. The times have changed so much that, unfortunately, everything is more costly and complicated. How do you know what you’ve spent is worth the investment? Luckily, the times have also changed to make managing personal finance more convenient and easy for people, especially young adults, to practice and embrace financial management with the help of finance apps and sites.
Whether it’s for keeping track of your expenses or bill reminders, there’s always an app or site that’s accessible and easy to use with just a click or a touch of your finger. Here are six of them to help you embrace your geekness and better manage your money.

Some of the links included are partner links, meaning if you click through and sign up or make a purchase, I earn a small commission.

1. Earnest

For a quick, easy and secure loan without the traditional stressful application, try Earnest and get the best merit-based loan offers instead of credit-based loans. They do this by having a thorough application so they can check various variables and data points and use these to predict what your finances will look like. They offer personal loan and student loan refinance.

[Tweet “6 Finance Apps That Help Millennials Embrace Geekness #MoneyNerdsUnite including @meetearnest”]

More than that, Earnest doesn’t charge any fees. Yes, no late fees, origination fees, and hidden fees. They also have no penalty for prepaying loans with Earnest either. Their loan programs are really flexible and secure. They also have great customer service where they have representatives for customers who are experiencing financial hardship. If you’re young but dedicated to experiencing and achieving financial success, try looking into a loan with Earnest.

2. Blooom

If you’re employed and looking for financial advice and want to properly manage and plan your 401K, then Blooom is a must-try app. All you have to do is tell where your 401K is currently held and provide the log in and password for your current 401K institution and Blooom will do the rest. They will analyze your 401K across more than a thousand different funds and when they’re done, they’ll show a flower instead of the usual complicated pie charts to represent the health of your 401K.

[Tweet “6 Finance Apps That Help Millennials Embrace Geekness #MoneyNerdsUnite including @blooominc “]

The team can also show you how to fix them and even let you weigh in financial decisions for stock and bond allocations you are comfortable with. Blooom does everything else for you, too: they will select the right funds in your 401K, make the changes for you, and monitor and rebalance your 401K quarterly. Indeed, Blooom is one of the most unique finance apps in the market that greatly evaluate, analyze, and solve your financial problems and help you balance and grow your 401K.

3. Payoff

With your best interest in mind, Payoff helps people pay off their credit cards faster and save money. Instead of dealing with overwhelming credit card bills, you can use Payoff to simplify them down to one monthly payment, all with lower rates than your credit cards designed to remove up to $25,000 of your credit card debt as quickly as possible. Their website is easy to use and is secure. I’m a brand ambassador for Payoff so let me know if you have any questions!

[Tweet “6 Finance Apps That Help Millennials Embrace Geekness #MoneyNerdsUnite including @payoff “]

You only need to apply online, and if approved, your bank account will be deposited with Payoff money so you can pay off your credit card balances. Payoff also eliminates fees such as late fees and prepayment fees. Payoff is a perfect financial service for people who constantly use credit cards but also get stressed when the bills come knocking on their door.

4. Digit

Digit is a unique financial management app that automates your savings by connecting with your bank account and saving some of your money to your Digit savings. However, they don’t over-draft your account so you can be sure you have one less problem. Digit also sends text updates that will let you know how much you currently have in your account, and how much you’ve saved.

[Tweet “6 Finance Apps That Help Millennials Embrace Geekness #MoneyNerdsUnite including @hellodigit “]

With just a text, you too can contact Digit and access your savings anytime with unlimited transfers, no minimums, and no fees. This finance app is good for people who are always on the go with their devices and would love to save money automatically without having nagging temptations and knowing it’s secure and safe.

5. Personal Capital

Personal Capital is an app that helps you track and understand your financial accounts by connecting your various accounts such as your credit cards, mortgage, bank accounts, investment accounts and more. They will then explain your situation and offer basic investment guidance to improve your financial situation and practices. Connecting your accounts is extremely easy since the apps are user-friendly and Personal Capital will automatically update it everyday.

[Tweet “6 Finance Apps That Help Millennials Embrace Geekness #MoneyNerdsUnite including @personalcapital “]

The site uses series of charts and graphs to help you understand your savings and investments including your net worth, account balances, income reports, spending reports, and many more. This comprehensive budget service also introduces advanced financial planning concepts for younger people who are trying to grasp financial management and its benefits.

6. Gradible

This New York City-based finance app and site is ideal for US college graduates who are exerting efforts to manage, understand, and pay their student loans faster. Gradible provides loan evaluation resources to make sure that members have a repayment plan that doesn’t nag them all the time for demanding monthly payments and excessive interest rates and is suited to their financial situation.

[Tweet “6 Finance Apps That Help Millennials Embrace Geekness #MoneyNerdsUnite including @gradible “]

More than that, Gradible also provides access to exclusive discounts, offers, and earning opportunities to members to help them accelerate their repayment. Gradible is an ideal app and site for college graduates looking into paying their loans fast and start saving again for future investments.

With all the technology in the world and in the market today, you can finally say goodbye to stressful paperwork financial management. You’re young, but you don’t have to be discouraged with practicing financial management because these finance apps and sites are easy to use, secure, and convenient. With just a swipe of your fingers, it’s now easier to track your expenses and save lots of money for the future. They are great for young people since it combines financial management with technology and is easily accessible on their laptops and mobiles.
If you have trouble managing your finance or are young and seeking help to understand financial management, be sure to try and test these six finance apps and sites which offer financial management at its best right in the palm of your hands.

Originally posted 2015-08-05 10:00:27.

Earn Extra Income

Your Network Equals Your Networth

College students often dread the word network. I remember when I first heard the term, I thought it was ridiculous. Why should I become friends with someone just for what they could offer me? I don’t like to be taken advantage of, and I wouldn’t want to do that to someone else.

Once I graduated from college the first time with an spanish degree, I realized that I should have networked more. I would ask friends and fellow graduates, how did you get that job. I always heard the same thing. “A friend of mine told me about it.” How did they have friends that I didn’t have? Where could I find these friends with all of the connections? It took me a while but I finally realized that these so-called friends that knew about all of the jobs were really just acquaintences to my friends. I made it my mission to learn to network and meet the right friends.

You don’t have to be a leech to build a great network. The first thing I think of when I meet someone new is how can I help them? By thinking of a way to help them first, I am shifting the focus from myself. This allows me to be more approachable and friendly. Most people can sniff out a ‘user’ from a mile away. When I notice that someone only wants to talk with me because of what I can offer them, I generally shy away. However, in order for you to build your networth, it’s important to have a few key people in your network. Here are the 9 Key People to Have in Your Professional Network.

1) Recruiter

It’s important, no make that essential, to have an updated resume. Not only will it keep you on top of your professional brand, but it will make your on-the-job review that much easier. When you ask for a raise and point out all of the ways you’ve added value to your company, you will have that much more leverage. Having a recruiter in your network will keep your options open. If you ever feel like your talents and skills are going unnoticed at your current position, you will have an immediate link to new positions and opportunities.

2) Accountant

Having an accountant in your network will be an asset to you in one of two ways. It will position you as the go-to person for accounting needs; since people will know that you know who to turn to, and it will keep you in the know about tidbit accounting laws and changes. But probably the most important reason to have an accountant in your network is because of the IRS. Who really wants to be audited?

3) The Sports Guy/Gal

If you are the one who is the authority on sports then you might be able to skip this one. Business and sports go hand in hand, period. You can avoid it all you want, but if you can’t talk about the epic fadeaway from last night’s basketball game, or the 2 point conversion that had everyone in shock, you will miss out on deals. If you don’t want to make it a point of watching games or checking ESPN everyday then network with a sports guy/gal. You’ll know them by the fact that they are always at the ‘watercooler’ talking about last night’s game. Steal some sound bites from them and network away!

4) Media

Everyone needs to know that someone that is always the first to know everything. They may write an entertainment blog, you may always see them out hob-nobbing (that’s the word for networking with famous people), and you will see their pictures EVERYWHERE. You may have a hard time meeting this one person because everyone wants to know them, but if you can do it, you will be one step closer to the pulse. Who knows, they might want to take the time to talk about you to fellow hob-nobbers.

5) Banker

This one is an obvious one. You should have someone that keeps up with the market and world news. They will constantly know what is going on and how it will affect their portfolio. And if you listen well, you might get some tips for your own portfolio even if it’s finding a good passive investment.

6) Entrepreneur

An entrepreneur is the person you met who is always trying to network. They either want to sell you something or figure out how you can build their business. But don’t get offended, that’s what they do. Good entrepreneurs will figure out a way to help you as well and that’s why it is good to meet one and stay in touch regularly.

7) Teacher/Professor

When was the last time you talked about the state of our educational system? I’ve met many teachers and, I always leave the conversation with a new look at politics. Because the educational system is so flawed and the government runs it all, they will usually be up to date with new laws and provisions that may affect you or your kids or your lifestyle.

8) College Student

I bet you didn’t think you would need to network with a college student, huh? You’re probably thinking, what do they have to offer me? But didn’t we just talk about networking with those that you can help? Have you been listening? But you can benefit as well. You will get more fresh perspective from a college student than you will get from your other sources.

9) Author

Finally, you should know at least one person who writes for a living. Or at least someone who enjoys organizing their thoughts onto paper. When you decide to begin writing that interesting life story of yours, you’ll know who to talk to.

Did I miss one? Who would you include in your network?

Originally posted 2015-06-01 10:00:19.

Career Earn Extra Income

#QUIZ: Should I Start a Business or Get a Job After College?

This is a question that many college students ask themselves. Most people like to set their own schedule. We want to be able to be in control of our time and be rewarded for our efforts. Starting a business will give you that freedom but it also comes with a price. Often you will have to put in hours and hours before you reap the benefits. Getting a job will allow you to get your reward immediately and every two weeks in the form of a paycheck, but you will be much more constrained. I’ve created a simple quiz that will help you begin to decide if you should start a business or get a job.

FYI, if you are reading this through your feed reader, hop on over to the site. The quiz is a jump page quiz. Small business facts sourced from the National Federation of Small Businesses small business polls.

Start the Quiz Here

But Don’t Scroll Down, Click Your Answer Choice








Do you have any debt?

Yes, I have some debt.

No I am debt free.

Since the beginning of early September, 30 percent of small employers applied for credit or commercial loans in one form or another, at least half of which applied more than one time. Seventy (70) percent did not apply of which 12 percent, or 8 percent of the population, did not apply because they thought they could not get credit they wanted.


Do you have a business idea already?

Photo via Flickr

Yes, I have a business idea.

No, I don’t know what business I want to start.

Forty-two (42) percent of all small businesses introduced at least one new or significantly improved product, service, process or design into their sales inventory in the prior year. Most often the introduction was a product (55%), followed by a service (29%), a process (8%) and a design (7%). Thirty-four (34) percent have never introduced a new or significantly improved product, service, process or design. It has been three years or more since another 11 percent have.


Do you have any savings?

Photo via Flickr

Yes, I have some savings.

Savings, what’s that?

Small-business owners believe that the primary reason they experience cash flow problems is the difficulty they encounter collecting money due them (30%). The second most frequently cited reason is seasonality (23%). The third is unexpected variations in sales (15%) and the fourth, weak sales (13%).


How much business knowledge do you have?

Photo via Flickr

I have a business degree.

I’ve learned from experience.

I have no business experience.

The most frequent course of study completed by small employers was business administration and related subjects. Fifty-five (55) percent did so. The second most frequently completed course of study was one of the hard sciences including engineering. Except for the few who took advanced degrees in law and health/medicine, those who took business were most likely to find their studies directly relevant to their current enterprise.


Have you ever worked in a management position?

Photo via Flickr

Yes, retail or some other management position.

No, I have no management experience.

Seventy (70) percent of small employers supervised people prior to entering their current business. Most now manage fewer people than they once did. This is particularly characteristic of those owning ventures now employing fewer than 10 people.


Do you have a hard time getting along with others?

Photo via Flickr

Yes, I often find that others are wrong.

No, I’m pretty easy going.


Do you consider yourself an active person?

Photo via Flickr

Yes, I work out, get outdoors, etc.

No, I don’t have time for extra activity.


How many hours a week are you willing to work?

Photo via Flickr

40 hours

Less than 40

More than 40


Do you work best with a coach or motivator?

Photo via Flickr

Yes, I find it helps me.

No, I motivate myself.


Do you consider yourself to be persistent?

Photo via Wikipedia




Why do you want to go into business?

Photo via Flickr

If you’ve made it to this question then you might have what it takes to start a business.

About one in 10 adult (18-64 years) Americans are currently taking active steps to create a business. Virtually all are doing so because they want to (or see an opportunity to do so) rather than because they have no alternative economic opportunity. This puts the United States at the top of the industrialized world (second to Australia in 2006), a position Americans traditionally occupy. The reason that this number is important is the direct relationship between the number of people trying to start a business and national economic growth (Source: Neils Bosma and Rebecca Harding, Global Entrepreneurship Monitor, 2006, Babson College, 2006.)

Are you willing to take advice?

Photo via Flickr



This is probably not the best time for you to go into business. Either you have too much debt or no savings, both will make starting a business very hard. If you expect to work only 40 hours a week and you give up easily then entrepreneurship may not be for you. However, may entrepreneurs are successful based on their networks and desire for more. If you can find the passion then there’s still a chance for success.

Originally posted 2015-05-30 10:00:11.


What You Don’t Know About Scottrade

You may think you know all about the online discount broker Scottrade from the plethora of Scottrade review posts that are out there, but there’s always something you don’t know.

Don’t believe me?

Well, you don’t know what you don’t know. 😛

Inexpensive Trades for Young Adults

You might already know that Scottrade offers $7 trades online and advertises that you can open an account with just as little as $2,500 dollars.

But did you know that you can maintain an account with $2,499 dollars? Yes, with Scottrade there is no minimum balance and no fee on balances below 2,500 dollars.

So open an account and start your automatic deposits.

You’ll build it up to 2,500 dollars in no time.

  • iPhone, Android and Blackberry mobile trading
  • No transaction fee IRAs
  • No account maintenance fees
  • No inactivity fees
  • Watch lists
  • Real Time Streaming Quotes
  • Local Branches so you can talk to a human in person
  • Over 3,000 no transaction fee mutual funds

Referral Program

Did you know that you can earn free trades when you refer your friends?

Once you have opened an account with Scottrade, click on the “Refer Someone You Know” link to automatically send an email to a friend.

When they open an account you and your friend get three free trades.

No Transaction Fee Mutual Funds

Are you looking for a broker where you can trade mutual funds without paying a fee?

Scottrade offers over 3,100 mutual funds with no transaction fee. Not sure which mutual fund to choose?

Use their mutual fund screener to explore your choices, including load funds, no-load funds, no transaction fee funds (NTF) and more.

Gain Loss Tax Center

The tax center was put into place to help you when it is time to file your taxes.

When you sell your stocks, you will have a gain or a loss. The tax center helps you figure out your tax basis for the trade so you can file your taxes easily.

The drawback

Everything is not all stars and roses. Here is the one drawback to having a Scottrade account. They do not offer dividend reinvestment. Dividend reinvestment is when your dividends are automatically put back in to the stock you own. There is no trading fee to purchase these incremental shares. But unfortunately, Scottrade does not offer this. In my opinion, all of the good outweighs this one negative.

Update: 6/30/2013

Scottrade recently announced a major improvement in their services.

They now offer a Flexible Reinvestment Program.

In this program, you can use dividends to buy other stocks and exchange-traded funds commission free!

A lot of brokerage firms have dividend reinvestment programs for their clients, but Scottrade’s program takes it one step further. In a typical DRIP, dividend-paying equities can only be reinvested back into that equity.

As mentioned earlier, with Scottrade’s Flexible Reinvestment Program, dividends flow into a program balance, or pool.

You can then tap that pool to buy up to five securities – none of which have to be the securities that contributed the dividends – commission free.

Most stocks and ETFs are eligible in the program.

From Scottrade..

The added element of flexibility is something our clients were looking for, and it gives clients the choice to reinvest their dividends however they want.


Ok, now we are down to the best part of becoming a Scottrade customer.

The knowledge base.

They have live local events so you can learn how to place a trade, how to get started with options and more. All of these events are taught by a licensed representative.

Here is what you can expect to see once you login to your account.

How to Open a Scottrade Account

  1. Open your Scottrade account online or by faxing in the paperwork.
  2. Fund your account via ACH, check, brokerage account or wire transfer.
  3. Print, sign, and mail the account agreement.
  4. Choose stocks, mutual funds, or other assets to purchase.

Originally posted 2015-05-05 10:00:26.

Budgeting & Saving

Here’s The Budget One Woman Used Before And After Paying Off $32,000 Of Debt

It was very difficult for me to reveal this information and I tried to be as open as possible without completely eliminating my privacy. Here’s the story on Business Insider about how I budgeted for my debt payoff. 


In 2011, LaTisha Styles decided it was time to pay off her $22,000 of credit-card debt and $10,000 auto loan.

The process took her three years and one month.

“In November of [2011], I moved to my own place in the city, single and without children,” she remembers. “I took a job with an investment adviser and slowly began the process of paying off my debt.”

At the time, her debt was delinquent (meaning she hadn’t been making payments), since she had graduated college without a job and went to live with her parents outside of Atlanta, Georgia.

On the day she was offered her new job, she sat down and created a budget, using a basic spreadsheet and working with Clearpoint Credit Counseling Solutions to manage her consumer debt.

Here, she shares an average monthly budget from 2013, when she was furiously paying down her debt, as well as one from 2014, the year she paid it off. Note that these are averages taken from a year’s worth of spending, so a single month isn’t represented, and the budget was created for her after-tax income. Continue reading on Business Insider.

Or, watch this video first about my debt payoff strategy.


Originally posted 2015-01-07 13:00:09.