Raise Your Credit Score
For a conventional loan, borrowers with a credit score of 740 or more will usually get the best interest rates. Having a minimum credit score of 620 will often lead to a higher rate. Raising your credit score can help. Some methods take longer than others, but improving your score is one of the best moves to make when refinancing a mortgage.

Start by paying your bills on time, which has the biggest impact on a credit score. You can also improve your credit utilization, meaning using less of the credit available to you on your credit cards.

For example, if you have three credit cards with a total credit limit of $10,000, but all of the card balances add up to $5,000, your credit utilization rate is 50 percent. Ideally, it should be under 20 percent to get the best mortgage rate. The credit utilization rate can be dropped by paying down the credit card balance, using less of the credit available or getting a higher credit limit.

Lower Debt
Reducing your debt-to-income ratio, or DTI, by paying down your credit card balance is another big way to improve a credit score. A DTI of 36 percent or lower is preferable. To lower your debt, put off big purchases, such as a new car or appliances, until after youve refinanced your mortgage.

Shop Around
Dont refinance with the first lender you find, or even with your current lender. There are many loan products available, and many lenders that offer them.

Research what national banks, credit unions, community banks and your current lender offers for mortgage refinances before choosing one thats right for you. Some lenders may have in-house loans that they dont sell on the open market that are more flexible and have better rates and terms than other lenders.

Be sure to pick a lender that youre comfortable with and trust, and dont just focus on the interest rate. The lender you choose will be helping you with one of the biggest financial transactions of your life, and you want to work with someone who has your best interests in mind.

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Having cash in your pocket may seem counterintuitive. If youve heard the phrase burning a hole in my pocket, then you know how enticing it can be to spend money youre carrying around.

But having cash on hand can cause you to spend less money than you would with a credit card " at least for small purchases " researchers have found.

A study by the Urban Institute found that using cash when a purchase is under $20 left the consumer with $104 less in revolving debt, on average. That dropped their credit card balances 2 percent below their baseline average.

For young people, the $20 cash rule led to more savings. People under 40 who were reminded “don’t swipe the small stuff” and to use cash on purchases for less than $20 had $173 less in revolving debt.

Credit keeps charging
The group also sent reminders to credit union members that credit keeps charging and that using a credit card adds about 20 percent to the total cost of something.

People who received that reminder didn’t significantly change the amount of their credit card debt, the survey found, but younger people did charge less. People under 40 who received the reminder about the cost going up by 20 percent with a credit card had $160 less in credit card debt.

A swipeis easy
Swiping a credit card can seem a lot easier and cheaper than using cash because you’re not parting with anything tangible. Seeing a $20 bill leave your wallet feels more like spending money than using a plastic card to buy something. After all, a $6 drink doesn’t look too bad when compared to a $5,000 spending limit on your credit card.

Having cash on hand helps you refrain from making small impulse purchases, which quickly add up. Check your credit card statement " seeing is believing.

I hope you found this information helpful. Please contact me for all your real estate needs today!

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Now, as a trip to some of the larger home stores will attest, appliances are going back to the ’50s, and it’s one of the hottest trends around.

It may have started with Big Chill, a Colorado company that got off the ground when a man named Thom Vernon wanted a retro-style fridge for a vintage house he was building. Vernon approached his nephew, Orion Creamer, a recent graduate of product design school with a passion for old-school style. Orion and his uncle built a prototype on the front porch of Creamer’s home. The rest, as they say, is history"or perhaps history repeating itself.

In any case, the company today produces a wide variety of ranges, hoods, refrigerators and more that bring back yesterday’s eye-opening color with all of the modern conveniences. Available in as many as nine hues"from buttercup yellow to pink to candy red"along with the well-remembered aqua, the company’s products bring their vintage cousins back to life. See them online at bigchill.com.

Another company with a similar passion and product line is Elmira Stove Works, a Canadian company that adds textured black, bisque and quicksilver to its line of vintage favorites. American homeowners can find them online at elmirastoveworks.com.

You can even find red, white, and blue fridges made by a European company called Smeg, available at smeg.com or ajmadison.com.

While you’re at it, check out the unbelievably colorful Dolce & Gabbana line of mixers, toasters and other small appliances at Williams-Sonoma and other retailers.

It seems like everything old is new again"but sometimes, new is better.

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Consider the following easy fixes:

Hang a mirror. Hang a mirror (or lean a large one against a wall) to toss light around your room and open it up.

Add metallics. Golds and silver accents will make any space sparkle. Think picture frames, fixtures, lamps and decorative items like vases or candle holders.

Freshen with flowers. A floral pop can brighten a room, especially with fresh flowers. Add a bouquet to a table for a bit of vibrancy.

Think yellow or white. While light colors may show dirt and grime, white and yellow accents can brighten an area, fast. Add white and yellow throw pillows, swap out the duvet on your bed or hang a new set of curtains.

Declutter. Last but not least, a clutter sweep will help brighten your space up. Stack books, toss old magazines, fold the laundry, nix the knick-knacks and your home will thank you for it.

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Add some greenery. Place a pot of minty eucalyptus on the counter, or any bright greenery that loves moisture, to add a fresh look and feel to your bath. They look pretty and smell relaxing, too!

Add a basket or two. A trick from resort hotels, pile a stack of soft towels on a small stool and put a basket of lovingly chosen lotions and soaps on the counter. Its a quick and easy way to make a bathroom feel luxurious.

Choose bath mats carefully. Fabric mats can collect moisture and get moldy, while a slatted wooden bamboo stays clean longer and adds a little Zen to your retreat.

Introduce aromas. A spa appeals to all your senses, including scent. To aid in relaxation in your homes bathroom, light a candle with a soothing aroma, like lavender or eucalyptus, or put out some essential oils.

Hang some artwork. Give yourself something visual to focus on as you lounge in the tub. Hang a print with a relaxing theme, such as ocean waves or a tropical beach scene.

Add a bath caddy. The shower caddy is too high if youre in the tub. Corral all your bath supplies, from soaps and shampoos to loofah sponges, in an easy-to-reach caddy hung at tub level so they are at your fingertips when you need them.

Tie everything in with a shower curtain. The shower curtain takes up a lot of space in a small room, so hanging a new one with a chic and minimal design can dramatically change the rooms atmosphere.

Make some updates. And if you really want an impressive spa-like bath, make some upgrades like adding heated floors and a rainfall shower head.

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Demolish debt. Slaying your own debt will positively impact your family’s financial future. While it may take years to pay off those student loans or credit card debt, creating a plan can help. Tackle your lowest balance first to gain momentum then take on the next smallest. Additionally, pay attention to higher interest rates that are costing you a lot of money.

Build a budget. Creating a budget doesn’t have to be hard. There are many budgeting apps available on the market to help you track your expenses, or you can try the trusty envelope system with monthly allowances for groceries, entertainment, utilities, etc.

Build an emergency fund. Setting a fund for potential emergencies will never backfire. Aim for a small, achievable goal as low as$500then set the bar higher. Participate in your employer-sponsored savings program to boost retirement savings, especially if there is a match. Make it an automatic payroll deduction and increase it when your paycheck goes up. As far as your child’s college savings, save what you can, when you can. Every little bit will help when education bills come due.

Child care. Consider establishing a flexible spending account if one is offered by your employer. Parents can use pretax dollars to pay up to$5,000in child care expenses in most states.

Review insurance and important paperwork. Create a will either by using an online program or hiring a professional to name your child’s guardian, and designate at what age any payouts, savings or investments will be distributed. With health insurance, notify your employer within 30 days of the birth to ensure that the child is eligible for any dependent benefits. Purchase appropriate health care coverage to protect your family. Review your employer’s life insurance plan and determine if it is adequate for your needs. If not, consider purchasing additional life insurance.

Source: SmartAboutMoney.org

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Below are four helpful happy mantras to lift your mood.

You can do it. Whether youre under a huge deadline for work or trying to finish that last mile on the treadmill, telling yourself that you can do it will make your success more likely. Be your own cheerleader!

Just breathe. Feeling overwhelmed? Remind yourself to breathe. Pair this mantra with big, deep inhalations to feel calmer and happier.

Thank you. Gratitude goes a long way, and can shift your perception of things (and the way people perceive you) if integrated into daily life. Be thankful for getting to work safely, even if you had a longer-than-usual commute. Be thankful you have the funds to buy groceries, even when your list of errands seems endless. Thank you, thank you, thank you.

No judgements. This is easier said than done, especially in a world where other peoples lives are constantly popping into our news feeds. Annoyed at your co-workers cheesy engagement photos? Irritated that your college roommate seems to be traveling constantly, when you cant even afford a staycation? Remind yourself to pay attention to your own life, and dont judge or envy others for their choices.

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A fraud alert can be placed fairly simply. Contact one of the three major credit bureaus to ask that they place a fraud alert on your credit report, giving potential lenders and creditors notice that someone may be trying to fraudulently use your identity to apply for credit. The three main credit bureaus are Equifax, Experian and TransUnion"the one that you report the problem to will notify the others.

It alerts them that they should do more thorough vetting, including calling to check if youre really at a store trying to take out new credit, and verifying your identity before extending credit in your name.

Two Types Available
An initial fraud alert lasts 90 days, after which the credit bureaus will automatically remove it from your credit report. You can then request another 90-day fraud alert if you think youre still at risk for identity theft. You can also request that the 90-day alert be removed early if you no longer need it. You must notify each bureau separately to have them remove it.

The second type is an extended fraud alert that can last up to seven years. It can only be placed on your credit report after your identity has been stolen and youve filed an identity theft report with the Federal Trade Commission. You may also need to file a report with local police.

An extended alert requires creditors to contact you in person or through your designated contact method to make sure youre the person trying to request credit. You can still open a new account after the creditor contacts you.

This type of alert isnt the same as a credit freeze, which is also called a security freeze. This prevents lenders from checking your credit to open a new account, effectively preventing new account openings.

Keep in mind that a fraud alert can be a red flag for lenders, and theres no guarantee it will stop identity theft. After filing a fraud alert, get a free copy of your credit report from each credit bureau and check it for warning signs of fraud. These include accounts opened in your name that you dont remember opening, or charges on your credit card that you dont recognize.

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Paying your bills on time is the best way to avoid this. If you dont make your payments and your account is turned over to a collections agency, you wont be able to get that account current again. Late payments can stay on a credit report for seven years.

Before it gets to that point, there are four ways to remove late payments from your credit report so that your score isnt affected:

Ask for a Goodwill Adjustment
Creditors can remove a late payment as a goodwill adjustment if you write a forgiveness letter explaining why you were late and asking that they forgive it and adjust your credit report.

Youll likely be successful if you have a good payment history with the creditor and havent asked for an adjustment previously.

Sign Up for Automatic Payments
Signing up for automatic payments with a creditor can be a way of negotiating the removal of a late payment entry. Automatic payments will help you and the creditor because your future payments will be made on time and you wont have to worry about missing another payment. Just make sure theres enough money in the account youre pulling from each month.

Dispute Inaccuracies
If a late payment is inaccurate, then you have the right to dispute it. The entry date or amount could be wrong, or it may not be your debt. Check your credit report regularly for inaccuracies"having proof for your dispute will help your case.

Hire a Pro
If these steps are not effective in your situation, you may want to consider hiring a professional credit repair service. These services can be faster than trying to fix your credit report on your own"though it can be an expensive option. Look at the companys costs and make sure youre not being charged a subscription plan for regular credit checks.

Federal law allows consumers to check their credit reports for free every 12 months from each credit reporting agency. Start at AnnualCreditReport.com and immediately correct any inaccuracies you see in your credit reports.

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Instead of not knowing if their cash gift is going to pay for college or for a night out on the town, grandparents and others can buy gift cards and have the money deposited in the student’s college savings plan.

The 529 gift cards are used at GiftofCollege.com, a registry for online gifts to 529 accounts.Electronic gift cards for 529s are available at the Gift College website. The 529 gift cards come in fixed amounts of $25 or $50, and in variable amounts up to $500.

Some of the gift cards promote a specific state plan, but all of them can be redeemed as a deposit into any state’s 529 plan.

A 529 plan is a state-run program for families to invest in for college expenses. The money grows tax-free and can be withdrawn tax-free to pay for education. Contributions aren’t deductible from federal income taxes, but many states allow the deductions on state returns.

Recipients must create a profile on the Gift of College website to redeem the card and have the money put into their 529 plan. If they don’t yet have a 529 plan, their parents must first create one for them in order for the money to be transferred.

The Gift of College cards carry a fee of $3.95 to $5.95, depending on the card’s value, and it’s paid upfront by the buyer. There is no fee for redeeming the card, so a $25 card will equal a $25 deposit to a 529 plan.

To avoid paying the fee, givers can obtain the child’s 529 account number and send a paper check directly to the plan with the 529 account number on it. Some plans also allow direct online gifts, though parents have to initiate the transaction.

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College grads without student loans are much more likely to save for retirement. By the time they reach age 30, grads without student loans are predicted to have double the amount saved for retirement as individuals with student loans, according to a study by the Center for Retirement Research at Boston College.

What can those with student loan debt do to fix this?

Pay Your Student Loans First
If you cant afford to save for retirement and pay your student loans at the same time, then start by working to wipe out your debt first. Its a debt cycle that will continue if you dont tackle it.

Most federal loan borrowers are allowed up to 10 years to repay their student loans, and those with more than $30,000 in federal student loans can have up to 25 years to repay, according to the Consumer Financial Protection Bureau. This long window could be incentive enough to stretch out payments.

Start Saving
Try to find money to put toward retirement. The earlier you save, the more money youll have at retirement. A general rule is that for every 10 years you delay saving for retirement, the amount you need to save per month roughly doubles.

Someone in their 20s may need to save just 5 percent of their income to have a good retirement fund. But wait until your 30s and it is closer to 10 percent.

Use the Right Tools
A workplace 401(k) or traditional individual retirement account will typically make your contributions tax-deductible. This allows you to save money now on your taxes.

If your employer matches your contributions, its like giving yourself a raise that youll enjoy when retired. If you dont contribute, you wont get those matching funds.

Change Your Budget
If contributing to a retirement fund now isnt in your budget, make room for it. Cut expenses such as excessive dinner outings, and you should find enough money to get your retirement savings going.

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You can tell them to shut off after you leave for work and spring back into action in time to ensure the house temperature is comfortable by the time you get home. Many models can be managed from your phone or a website.

If youre thinking of upgrading to a money-saving smart thermostat, here are four models highly recommended by independent reviewers at BestReviews, WiseBread and LifeHacker:

The Nest Learning Thermostat
This model tops most lists and is backed by over 17,000 five-star reviews on Amazon. The Nest is easy to use and install, and works with Amazon Alexa, the Nest App and other smart devices. It features energy-saving options, a remote control, auto scheduling, and more. This Energy Star thermostat uses Farsight for an easy-to-read display you can see from across the room, and can alert you if something is wrong in the home while you’re away. It costs about $225.

Honewell Smart Wi-Fi Color Touch
The Honewell also works with Amazon Alexa, features flexible scheduling, smart response technology, on-screen comfort information, an indoor humidity sensor, auto alerts and energy-saving options. It includes an app so you can control your thermostat from anywhere. Control features include a customizable color touch-screen, simple setup and Wi-Fi remote access. Another Amazon customer favorite, it costs about $189.

Eccobee 3 Light Smart
This one is easy to install, with an easy-to-use touch screen display, and also takes local weather into account and can be scheduled to desired comfort settings. It works with Alexa, as well as with optional room sensors and the mobile app. At about $169, it offers hands-free control and hundreds of integration possibilities.

Emerson Sensi-Smart
The Emerson is also compatible with Alexa. This model is easy to install and you can remotely control temperature and timeline with a free mobile app. It uses a GPS feature for location-based temperature control and flexible scheduling to help reduce utility bills. It runs around $135.

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Avoiding a credit card balance by paying the bill before the due date each month is the best way to avoid such extra charges"but thats rare. For every five credit card accounts, more than three carry a balance from one month to the next, according to a Federal Reserve payments study.

Here are some ways to avoid paying credit card interest:

Know the Grace Period
Most people think they only have a month to pay off a credit card bill. By knowing their cards grace period, they can see how much more time they have. A grace period is the time allotted to pay off your credit card bill without incurring any interest. It starts on the last day of your billing cycle and runs through the due date for that cycle.

Knowing what your credit cards billing cycle is can give you about three more weeks to pay off purchases. The key, however, is not forgetting what the payment due date is and paying the full amount by that due date.

For example, a credit cards billing cycle may start on the twenty-third of one month and end on the same day a month later, such as May 23 " June 23. The payment due date could be July 17. In this case, the grace period might be June 24 to July 17"about three weeks long. Instead of having a month to pay the bill off, you now have about seven weeks.

Pay as You Buy
If you really want to be diligent about avoiding interest charges, pay off charges on your credit card as soon as you make them.

Credit card companies are happy to accept payment at any time, even multiple times in a month. So, every time you make a purchase with your credit card, immediately transfer money from your bank to the credit card company for the same amount. You can often do this through your credit cards app on your phone, or you can set up weekly payments of a certain amount if you expect to make a certain number of purchases per week.

Pay in Full Each Month
Paying off the credit card bill in full each month is the best way to avoid interest charges. Do whatever it takes to pay it by the due date. Send yourself email and other alerts, keep track of purchases to ensure you have enough money in your checking account to pay the bill, and stick to a budget.

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