How Closing Accounts Can Kill Your Credit Score

One of the major factors of how your credit score is calculated is your capacity. This is the ratio of credit used to the amount of credit that is available. This accounts for 30 percent (almost a third!) of your credit score. For example if you have 5 credit cards with a $1000 limit and you have 3 of them maxed out and 2 of them inactive your capacity would be at 60 percent, $3000 of your $5000 total credit limit. This is not good in the eyes of the lenders and your credit score would suffer because its ideal to be at 10 percent of your capacity.

Remember a credit score is a formula measuring your ability to pay back your debts and obligations. If you have a high capacity and little room left for your maximum then your ability to pay back your obligations is viewed as more limited.

So in the example above, lets say you decide to close the 2 inactive cards for whatever reason. Nowadays, the credit card companies will charge a fee to inactive cards so a lot of people are now closing their inactive accounts. Well unfortunately, they are killing their credit score. If you are maxed out on three cards and you close the other 2, guess what, you are now at 100 percent capacity because your total credit limit is now $3000 instead of $5000. I know from personal experience this will cause your credit score to plummet.

My advice? Don’t close your inactive cards. Use them once a month, maybe for gas, or treat yourself to a latte from Starbucks. Then pay them off immediately so you don’t incur any interest. Do what you can to pay off the cards that are maxed out, or at least get them down to where your balance is under 10 percent of the limit. If you can, try to transfer the balance to a lower interest card, so it can save you a few bucks on the interest. This strategy is sure to improve your credit score because capacity is a major factor, and if your capacity improves, your score improves.

Asking your bank for a credit limit increase on some of your cards isn’t suggested nowadays, this is a strategy that old credit repair people recommended but in today’s economy with the credit crunch, it prompts an account review, which for some quirky reason, may cause the banks to LOWER your credit limit. This would damage your capacity as well.

You are already disciplined enough to not spend on two cards. You are unique in today’s credit crunch world, use your discipline to your advantage, don’t close your accounts. You will be doing more harm to your credit score than good.

Learning Spanish Courses – For Work Or Play

Learning a language, especially Spanish can be one of the most rewarding experiences ever. I have put together a few tips on surviving the Spanish language course.First of all, if you have ever decided on learning Spanish or you think it’s time to knuckle down and finally learn Spanish, you are in luck because there has never been a better time to learn it. More and more countries are accepting Spanish on their school curriculum’s as there are more Spanish speakers venturing to other countries seeking out new lives. If you do not want to “miss the boat” as it were, now’s the time to study Spanish.

Below I’ve made some bullet points on learning Spanish effectively.

Why learn Spanish in the first place

First of all, before you begin your classes it would be a good idea to know your exact reasons for wanting to learn the language. Is it for work or play? In other words, do you need it in your job or is your learning Spanish more orientated to towards leisure or culture? So many people are finding better employment these days as a direct result of learning a language such as Spanish. The opportunities that exist are literally endless – translation, catering/restaurants, government and civil servant jobs to name but a few. I’m quite sure your boss will appreciate you that much more too, let alone your personal finances! Yes, having another language is a tool that helps you earn more money and that can’t be bad, can it? Also, your boss will be inclined to promote you as you will be an invaluable asset to his or any company.

If you have motives other than your job or career then I’m sure you’ll find learning Spanish a rewarding hobby. Just think about being able to converse with your new neighbors in Spanish! How welcome you’d make them feel by chatting to them in their native language. Imagine impressing your family and friends by ordering your next meal at a Mexican or Spanish restaurant in fluent Spanish.

Learning because of love

Maybe you’ve set your heart on learning the Spanish language because of love. Maybe you have met the girl or boy of your dreams and the language barrier has reared its ugly head. What a fine and noble opportunity to learn your future mate’s language and converse properly with them. One of the best methods to learn Spanish today is by using one of the very many online Spanish course methods. There are a few good ones on the internet today and they are all highly recommended for learning the language.

So whether it’s to improve your career, to enrich yourself culturally or even love then you could hardly go wrong in starting out on the right foot with an online Spanish course.

Happiness Or Housework – Get Organized For Both!

If you are like most women with a family, you are still at work on your “free” time. Time off is not for rest or play, but for trudging up that steep hill of never-ending chores. Housework organization is necessary, but remember as Gretchen Rubin of The Happiness Project says, “The days are long but the years are short!”

How do we master the tricky balance of keeping our sanity while having a reasonably clean and organized home?

Delegate

Many working women, including “stay at home” Moms, still do more than their fair share of work. Think about this: if someone had to pay for that family maintenance work, the estimate runs upwards towards $100,000 yearly!

Want to see your time? Get some paper and divide the page into three columns. In the first column, list all of the weekly household tasks. In the next column, the approximate time it takes per week. In the third column, who’s doing it. Now add up everyone’s time, and get delegating!

Even young children can put clothes away, pick up after themselves and help with simple chores. My six year old granddaughter can run the vacuum through the high traffic areas. Encouraging kids in positive ways from a young age saves countless hours spent arguing later on! My Mother was always stressed over doing housework on her day off. I don’t blame her, but it didn’t help motivate me much!

Get Organized With The 4 B’s

Life Coach and author Martha Beck created a prioritizing tool called The 4 B’s: Bag It, Barter It, Better It and Batch It.

Bag It means ditching it!. If you’re dusting once a week, can you Bag It and do it twice monthly? Let go of what you can. People that truly love you don’t care about a little dust on your end-table.

Barter It means trading, including with money, to have someone else do it. Women often say they can’t afford a cleaning person, but regularly spend it on a casual dinner out. Feel guilty paying someone to do “your” work? Think of it as a priceless investment, giving precious time back to you and your family!

Better It means adding something pleasurable to something dreadful. Hate doing dishes? Better It by making a playlist that rocks your energy! Make it a game and count the songs it takes to empty the sink. “Better it” for your kids and Google “games to get your kids to do chores!”

Batch It means doing similar tasks all at once. Pick one hour for family “just do it” time. Shut down the electronics and don’t do anything else during that time. Make it fun, and set up rewards for everyone, including yourself. Rewards are powerful motivators and don’t have to be complex or expensive.

Organize In Baby Steps

Break big jobs into small steps and start with the smallest one. Give yourself permission to stop after completing the first step. Telling ourselves we only have to take one baby step relieves motivation-sapping mental stress, and we may end up inspired to keep going!

Little things add up. Stash natural cleaning wipes in the bathroom and wipe surfaces a few times a week after your bathroom routine. You’re already in there and it takes 60 seconds to wipe out a sink. When you walk through a room, pick up a few things. (See next.)

Get in the habit of putting things in one place, even if it’s just in piles. Assign specific areas for papers, mail, dirty clothes, coats and shoes. Even a little bit of organization saves huge amounts of time looking for lost items, reduces clutter, and makes cleaning more efficient; sorting one pile is easier than finding it all over the place on cleaning day.

Well begun is half done. (Mary Poppins had it right!) Pick one thing, and just get started! It’s never as painful a task as we think and it’s usually done before we know it. Find a balance, make it fun, get it done and go on to live your life!

Long Lasting Outcomes of Business Gifts

Business gifts are employed by commercial organisations in order to promote their company identity and establish it as a brand name. The motive is not of creating a shallow appeal but a long lasting impact that is persistent in maintaining its presence in the minds of the audience. . Among the numerous promotional item companies that already exist and those that are upcoming, online stores are the place that comes foremost to the mind. They have carved a niche for themselves in the domain of corporate gifts only because their products show the potential of rendering advantageous long lasting outcomes.

Investing in business gifts is extremely beneficial. Unlike the much tested print, electronic and cyber media, purchasing corporate merchandise acts as a one-time expenditure. Once distributed to the intended set of audience, they spread brand awareness to more and more audience groups in a gradual and natural process. The business gifts continue to create brand exposure in the respective business and social network of the first hand recipients. This phenomena rolls over to a wide audience arena and to an extensive geographical periphery. The time till the promotional gifts are extant among the first hand users, they persistently make the brand presence felt among both the existing as well as the prospective clients.

The second long lasting output is that of a well positioned brand image in the memory of the target audience. The business gifts are so crafted that they can be brought into everyday application. The regularity and frequency of usage of these promotional articles repeatedly strikes the visual concentration of the users thereby getting the brand image embedded in the memory of the audience. The resultant effect is that the brand name occupies a major share of their consciousness which leads them to ask for the brand when they go for purchasing similar products.

The third outcome of business gifting is making a loyal set of existing consumers and a wide base of prospective clients. The business gifts act as the source of appreciation to the present consumers for their association with the brand for a long period of time. This would further make them loyal to the brand. On the other hand, the promotional products also motivate the potential clients in initiating a rapport with the brand and thereby gain new audience for the brand. The overall effect is that of a heightened brand prospect in terms of its awareness and sales.

For more information on business gifts, visit online stores.