The first question that almost every lender will ask is, do you know what your FICO® Score is? Most people have more than likely heard of this term, but they do not understand exactly what it is or how it might work. The FICO® Score, essentially is what determines your creditworthiness, or how much of a risk you may be to a particular lender. The score normally will range between 300 and 850, with the highest numbers representing the best borrowers.

The majority of credit bureau scores in the United States are produced by Fair Isaac and Company, or FICO®. The three major credit reporting agencies, or bureaus, are TransUnion, Equifax and Experian. They all provide FICO® Scores to lenders, and they all three use a slightly different formula to make their determination on what score will be given for your credit rating. All three could have identical information and the scoring system would be different.

However, most of the time they do not always end up having the same information in being able to determine your credit score. This is simply because not all businesses such as credit card companies, auto lenders, home mortgage companies, and various others will use the same agency to report any type of activity on your account.

There are specific factors that will influence the overall credit score. Issues such as your personal payment history on your accounts, any outstanding debts that you may have, the amount of credit you have versus what you have available, how long you have had each line of credit and very importantly, any derogatory or negative information that may be on your accounts. The frequency of late payments, any charge-offs or collections and a big factor is bankruptcies or credit repair companies you may have used.

There are also other factors that are weighed in determining your credit risk that do not have anything to do with your credit or any open accounts at all. Those factors are issues such as how long have you lived in your current home, how often do you move, or the length of time you have been at your job. It is never a good idea to change jobs right before applying for any type of credit, but especially so if it is a home or automobile loan. Lenders like stability.

Following a few simple steps can optimize your credit rating: be sure to always pay your bills on time or even before they are due, try to always ensure that you use 30% or less of the credit that is available to you, take the necessary precautions to always ensure that your good name is protected from the chances of identity theft. Protect your credit rating.

Every parent has the ability of deciding if each child is responsible enough to have a credit card at a young age. The top reasons from parents that get their children a credit card with their child’s name on it is for emergencies, so children can go shopping, keep track of where they spend their allowances, and purchase items when they are out with friends.

Before you consider getting your child a credit card, you need to decide whether you think your child is of a responsible age and mature enough for this huge responsibility.
Getting your teenager a credit card is not a bad idea if you want to start teaching them about financial responsibilities. With that in mind, it would be wise to sit down with your minor and discuss the purpose of the credit card, set limits, and discuss how the monthly payments will be made in a timely manner. Your teenager needs to be aware that if they go out and spend past the credit limit, nothing else should be purchased or they will have additional over the credit limit fees applied to the monthly statement.
There is another alternative, rather than giving a credit card to your children to teach them about financial responsibilities. Instead of an interest-bearing credit card, you can get them a debit card.
Take you teenager down to the local bank and set them up a checking account with a debit card. This will teach them responsible spending as they earn their money, rather than spending, and paying for it later with interest. Parents have the benefit of being able to “direct deposit” their teenager’s allowance into their account so they have access to it.
If you have a younger child, a “Charge Card” would be the best kind of plastic for them. The payments on a charge card must be made in full every month, so that will teach your child that in order to be able to use the card they have to do their daily chores. They do not carry a balance from month to month with a charge card.

If you and your child decide to get a plastic card of any type, whether it is just the debit card, you need to make sure you read all the rules to every account with the companies. Some companies will restrict cards to minimum age groups; while other credit card companies will allow anyone that the co-signer allows, to have a secondary card. Debit cards are probably your best option for teaching your children financial responsibilities.

Once you get the card with your child’s name on it, don’t take it for granted that your child knows the financial responsibilities. Sit down and teach them the basics. Let them know it is very important not to lend their cards to anyone, not even their best friend. Once the monthly statement comes in, review it with your teen and explain what everything is. Compare the receipts against the charges. If you have chosen a credit card for your child, show them it is better to pay more than just the minimum payment. Not only do you want to show them how to use it, but also how it can affect their credit scores and how it will affect their life when they become adults.

One of those lessons is when to do it our selves and when not to bother trying. There are some projects that are simply best left to the professionals. Installing various types of stone countertops and floors definitely falls into the category of hiring a professional.

While attempting to install a beautiful island top made of granite, we cracked it. Although we were meticulous in the choosing, preparing for shipping, moving it and placing it perfectly on the awaiting kitchen island, we missed a step. We had not properly reinforced the cabinetry and frame that would be holding up the heavy piece of granite.

Our error was an expensive one. Apparently, it was also not an uncommon one. We had installed countertops and kitchen islands before; therefore, we truly did not understand where we had gone wrong on that particular project.

We were fortunate in finding a local contractor who dealt with such mistakes as the one we had made. His team came in, lifted the granite and made the appropriate changes necessary for the cabinets and frame to hold such a heavy piece of stone. He even managed to save that piece of granite for us.

When the granite cracked, it did not break through completely. He transported the island top back to his workshop and worked his magic. By the time it was reinstalled, this time correctly, the crack was imperceptible.

It was a hard learned, expensive lesson. However, we have since learned that there are some projects that even the most proficient do-it-yourselfers should not attempt on their own.

Laying travertine tile is another one of those “leave it to the professionals” jobs. We have laid tile many times. It is an arduous job but one that we actually enjoy. The pleasure derived when one sees his/her hard work beautifully completely is indescribable. Nevertheless, there are some projects that are less expensive in the long run when you call the professionals in the first place.

Travertine tile is one of the more frequently used materials for flooring in the southwestern portion of the United States. It is beautiful, sturdy, and blends perfectly into the desert living lifestyle. Travertine can be found indoors and in the outdoor rooms as well.

Travertine, prior to installation, is as exacting and unforgiving as it is beautiful. Cutting it requires a skill level as well as stone cutting tools that the average do-it-yourselfer simply does not possess. After years of settling, it is not uncommon for a floor to no longer be true or completely leveled. A flaw in the leveling will cause a travertine tile installation to become a nightmare for the non-professional. Travertine cannot be “propped” as some other tile types can be to level it out. Without a firm, solid, level surface beneath it, it will break.

When deciding which projects you will tackle yourself and which ones to call in the professionals for, try to remember there is a reason they are called professionals.