Credit Karma :: Update – 1.8.11

Well, it is a brand new year, right???

So with that in mind, I thought it was time to check in to Credit Karma and see where my score was at in the scheme of things. What I found was that it went from:

754

to:

781

This is feeling pretty good, I have to say!

They have also introduced a few other scores – you can read more about them on their website, but the one that caught my eye was VantageScore. The site says that:

VantageScore: The Next Generation of Credit Scores

VantageScore is a new credit scoring model created by America’s three major credit reporting agencies to support a truly consistent and accurate approach to credit scoring. This new score provides lenders with nearly identical risk assessment across all three credit reporting companies. Your VantageScore on Credit Karma was calculated based on information in your TransUnion credit report and follows a familiar academic scale for ease of understanding: A (901-990), B (801-900), C (701-800), D (601-700), F (501-600).

This scale runs from 500-990, versus the Transrisk score above, which is 300-850. So, with all of this in mind, VantageScore is:

819

That’s a B. It sounds like this is supposed to give a better idea of a score than just the Transrisk, so I’ll keep track of both on here.

**I am not paid by Credit Karma to post about their product, nor am I receiving any goods or materials from them. I am simply interested in my score and being accountable to my readers, and this seemed like the most economical way to keep on top of my score.

Which way to go?

I owe a ton of our success to the MS Money program that was part of my laptop package in 2006. With that program, we were able to set up a budget, make debt reduction goals, project cash flow and download our accounts regularly to make sure that we were on top of our bills.

Well, of course, once we find something that works, it is going to become obsolete…

Microsoft not only stopped producing updates, but it is no longer supporting the editions that are out there, which means even my password no longer works to log me in. Yikes.

So, I’m on the hunt for the program that comes the closest.

Here’s what I’m looking for:

• Produces a bill schedule
• Allows to link to online accounts to download transactions
• Has a debt reduction program that can calculate interest and “paid-off” dates
• Ability to project cash flow
• A budget program that has easy to designate categories
• Not too expensive
• Not based online so I can work on the budget without having to find internet service

Any thoughts? Am I asking for too much?

Putting your mouth where your money is

It seems like every month our report says the same thing — “we spent too much money on food” — and you are probably as tired of reading that as I am of writing it. I’ve been looking for the best way that we can stick to our Weight Watchers plan (that’s right – the hubby has finally signed up – high five!!!) AND our budget.

So imagine my glee when, during my normal coffee-break feed read, I saw that good ol’ Beks at Blogging Away Debt posted about a lovely online service that helps with meal planning. She shared all about her experiences with E-Mealz and how to get 10% off the subscription! I went to the site straightaway and lo, and behold, there it was…a meal plan with Weight Watchers points already calculated!!! [cue the angels]

Let me tell you why I’m so excited about this! Each week, my husband and/or I spend about 2 hours planning our meals for the week. That includes pouring through cookbooks, calculating points, making up the shopping list and checking the pantry for already existing items. For $1.25/week, we just have to print the posted menus for the week, check the pantry and go to the store – they even have the shopping list sorted by aisle, just like I do!

Don’t know about you, but as a part-time grad student, who also works a career job full-time, I could use those two hours/week.

So we’ve signed up and I’ll let you know how it goes!!!

Note: I have received no money or services from E-mealz – they don’t even know I exist.

I said “No, thank you”

Recent reports say that more people are telling their banks and credit card companies, “no thank you for your ridiculous ‘courtesy’ of allowing me to go over my limit so you can charge me more.”

Read more at this MSNMoney article: Consumers tell banks – Decline my Card!

That’s right! And I’m one of those who have asked my bank to DECLINE me if I attempt to use my debit card beyond my available balance.

I’d rather deal with the shame and scorn of the cashier than heft over the $35+ charge for each item over the limit.

Sure, I know you might be saying, “but you should know what your balance is at all times and shouldn’t charge outside of your budget.” I *hear* what you are saying, but I have to point out two things: (1) I can only be responsible for me and while my husband is awesome in many ways, he is an “over-buyer.” It is not completely unexpected to hear in our home, “but honey, I’m not sure that I needed to try each flavor of those snacks, even if they were $1 each,” and, (2) we went from years of lots of debt and no budget, to less debt (over $30K less) and a sometimes-too-flexible budget in 17 months – the process of staying to a “strict” budget is just that – a process.

So, I’ll thank the banks to help hold me to a stricter standard and learn my lessons without costing us more money…they can take my pride (but they can’t take my FREEEEEDDDDOOOOOOM!)

I don’t want to brag…

…but I have a TON of books.

That’s right. A ton. A lot. A plethora.

And while I have whittled down several times in my life, the number has crept up again lately, and as we are trying to thin out our belongings, it occurs to me that I hear people talking about selling their used books a lot, but I can’t seem to recall where these miraculous exchanges are taking place.

It would be nice to gain some new space….and some cash

So, dear readers, I turn to you for guidance on this topic…

Where, oh where, should I be posting my books for sale?

Living Smarter

As I’ve been reading other posts out there on the inter-web, I’ve noticed more and more posts about living a more frugal lifestyle. I’m feeling really convicted about this lately, because I have been struggling with our budget. Some of this is because our food costs have been spiraling out of control again, and some is because we’ve had to slow down a little on our debt reduction and it is so disappointing to me.

So I think it is time to work a little harder at living smarter.

One thing is that my husband and I need to be much more disciplined in packing our breakfast and lunches. May was a BAD month (so bad, I still haven’t written about it), and while June has been better, we are still pushing beyond our limits. One of the things that has been a tough balance is that I have been on Weight Watchers since early January (it works – I’ve lost over 25 pounds in 6 months). This means that we really can’t use most coupons (because they are for processed foods), and that we need to stay on top of our fresh produce and use it before it goes bad. This also means more work.

GULP.

A full-time job, grad-school at night, taking care of the house, trying to work out regularly and making sure to connect with our friends…who has time for more work?

Turns out we need to make the time – our finances require it.

So what are we going to do?

• Price Book – We’ve used a calendar and food-plan before and we try to limit our trips to the grocery store/Costco to 1x/week. But I think we need to be even more specific when we go to the store and we NEED to get our price book together. What is a “Price Book,” you ask? It is a book (paper or electronic) that keeps track of the prices of things that you normally buy and tracks it at the 3-4 places that you shop. That way, when you go in, you generally know what you are going to spend, so there isn’t a surprise at the check-out.
• Pre-pack – Ugh. I really hate this, but I’m going to do it anyway. We’re going to have to pre-pack our breakfasts and lunches before we go to bed. Well, breakfast for me – hubby can eat at home, but I have to wait at least an hour after I take a pill in the morning, so that means that I eat at work. But this will mean that we have insured ourselves against having to dine-out because of poor planning.
• Balance – Ugh. This seems like more work, too, but you know what…oh, well. Time to be more disciplined. 18 months ago, we were really, really on top of our budget every single day. Why? Because I balanced the checkbook EVERY. SINGLE. DAY. Time to go back to it. It will keep us more accountable and make sure that our purchasing decisions are informed and *not* emotional.

Well, there you go. This is my plan to start working some of this out.

Are there any other folks out there on Weight Watchers who have found some tips on cutting costs while staying on plan?

Myth? Myth? Yeth?

Oh, Muppet Movie, even today you impact my life with your funny and corny jokes.

I thought I’d share a mainstreet.com article today - 10 Common Credit Myths.

A few that were interesting…

Myth #3: Carrying a balance is good.

It’s a common misconception that carrying a balance on a credit card is a good thing because it helps you build your balance faster, especially when you’re first establishing credit.

But that’s simply not true, says John Ulzheimer, a consumer credit expert at Credit.com. Actually using your credit cards is good for your credit score, but carrying a balance just means you’ll have to pay interest on your balance.

Myth #9: Closing accounts increases your credit score.

Among credit card holders, 18% believe that closing credit card accounts will improve their credit score and 27% say it won’t affect their score at all, according to a survey from Harris Interactive and Lending Club.

This simply isn’t true, credit experts say. The amount of credit you have compared with the amount of credit you’re using plays a large part in determining your score. To put it simply, it’s best to have more credit available than what you’re actually using.

Did you see any information in the article was that was interesting to you?

Credit Karma :: Update – 6.18.10

I thought it was time to check my credit score again on Credit Karma and found that my score went from:

725

to:

754

Alright!!!

It also told me the following factoids:

• Lenders view your creditworthiness, based on your score as Excellent
• Your score compares to consumers nationwide at the 80th percentile

Now it is time to see where hubby ranks on this…

Article :: Frugality among consumers

Yahoo has this article up today that suggests that consumers are “shopping more prudently and learning to live with less” in response to the state of the economy and the reality that their savings and investments are worth less than they were before.

I know that when we started this journey that we certainly took both of these steps and that we have continued to live that way for 18 months. Whenever we talk about being debt-free, we don’t really talk about getting all “spendy” in our lifestyle. We talk about saving up to go on vacation, or to be able to give to our community more. But I say it from this side of the fence – it will take a lot of self-control not to go all crazy once we have that $1,600 back each month…

That being said, I’m hopeful that there will continue to be a trend toward more simple living that values community and relationship over status and spectacle.

Here is the article:  Frugality among consumers is outliving recession – Yahoo! Finance.

What do you think?

Credit Karma :: Update – 4.24.10

Last month, I posted on Credit Karma and revealed that my credit score was:

703

Well, I checked it again this month, curious as to how the efforts of the last few months were going to affect my score and what I found is that my new score is:

725

So it looks as though things are getting better on that front! I need to pull an actually FICO score to compare, but this at least helps to give me an idea!

It also told me the following factoids:

• Your total debt is lower than 36% of users
• Lenders view your creditworthiness, based on your score as Good
• Your score compares to consumers nationwide at the 70th percentile

Have you looked at this service? If so, have your pulled your FICO and how did they compare?