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  • What Credit Can Tell You About Your Romantic Interest (BlackEnterprise.com)

    Posted on by kennypugh

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    How much do you know about your romantic interest’s credit?

    There have been a lot of discussions recently across different mediums about relationships, credit and what they mean in relation to one another. Despite the many comments shared by extremists on both ends of the spectrum, I’d like to offer another quick perspective on why it’s very important to review/assess the credit reports of someone you are entertaining as a lifemate.

    Credit Reports Provide a Track Record – Just like a person’s high school transcript provides colleges with information about a student’s academic performance, credit reports provide historical information about a person’s financial responsibility. As a potential mate you are able to see what pattern of financial responsibility a person has maintained over the course of their recorded history. Have they grown from past challenges? Are they open to learning how to be more responsible financially? Were negative patterns due to a life event like illness, job loss or divorce? This is something that should realistically be discussed with someone you plan on merging your life with.

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  • Using a credit card? Watch out for the ‘checkout fee’ (CNNMoney.com)

    Posted on by kennypugh
    visa-mastercard
    NEW YORK (CNNMoney)

    You might want to think twice before whipping out your credit card. As of Sunday, stores in most states could start charging you a “checkout fee” when you pay for something with plastic.

    The new fees stem from a multi-billion dollar settlement announced in July between credit card issuers and millions of merchants.

    Visa (V, Fortune 500), MasterCard (MA, Fortune 500) and nine major banks agreed to a $7.25 billion deal to settle charges that they were fixing credit card processing fees. As part of the settlement, credit card issuers said they would reduce these “swipe fees” — fees paid by merchants to issuers when cards are used — but only for eight months.

    In addition, the settlement also gave retailers the option to tack on a surcharge if a customer uses a credit card. The retailer can only charge enough to cover the processing costs, which is about 1.5% to 3% of the total purchase, according to watchdog group Consumer Action.

    This fee doesn’t apply to purchases made using debit cards. And it will still be illegal to charge the new fee in 10 states, including New York, California and Texas.

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  • Develop Your 2013 Love & Money Plan

    Posted on by kennypugh

    Love and Money

    As we launch into 2013 there are undoubtedly a number of people compiling their list of goals to accomplish. For many in our society this list of goals will include the search for love and desire for a healthy relationship. Let’s be honest, most people desire to have someone ‘special’ to spend their lives with so they don’t grow old alone. For others, 2013 will include the desire to improve their financial lives. Who doesn’t want to increase their monthly income while reducing their overall debt? Your love and money goals ARE attainable if you put the proper plan in place to begin your 2013 journey. Consider the following as you develop your Love & Money Plan for 2013:

    Love

    1. Figure Out Who YOU Really Are – Until you figure out who you really are, you’ll waste your life away trying to please and live up to the expectations of others. It’s a lot easier being who you really are instead of playing the charade of who someone else wants you to be.
    2. Surround Yourself with Good People – It’s often said that birds of a feather flock together. Surround yourself with people who have experienced love & demonstrate healthy marriages. You’re more likely to remain in the same situation by hanging out with the same bitter, unhappy people you were connected to in 2012. Be willing to let some people go! Remember, good people are generally associated with other good people, which may lead to a potential love connection.
    3. Be Willing to Take Chances – There are some things you will not be able to truly determine until you make a decision and take a chance. You may miss out on the love of your life by overanalyzing whether or not he/she meets ALL of the items on your list. Fortunately, true love has the ability to trump many of the items on your list.

    Money

    1. Know Where You Stand – It’s hard to assess what steps you need to take when you don’t know where you currently stand. Start by documenting your current income, expenses, savings & investments. Knowing these items will give you a great starting point for developing your plan.
    2. Set Measurable Goals – Decide what you would like to accomplish. The most common financial goals are increasing personal savings, paying off debt or investing for retirement. Don’t hesitate to consult a professional if you need assistance in any of these areas.
    3. Don’t Give Up – Life is continuously filled with uncertainties. You can never predict when a car will break down, the furnace will go out or another unexpected expense will arise. However, no matter what happens in 2013…STICK TO THE PLAN AND DON’T GIVE UP!

     

    Although I can’t guarantee that you’ll find the love of your life in 2013. I can guarantee you’ll increase the pool of qualified candidates by following the tips mentioned above. Also, take comfort in knowing you’ll be in a better financial position by following the tips listed above and staying the course.

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  • BlackEnterprise.com: Is Your Credit Affecting Your Marriage Eligibility?

    Posted on by kennypugh

    Does having bad credit not make you marriage eligible?

    As a life and relationships strategist to single adults, I find it very interesting when I come across men and women who feel as though they are truly ready for a committed relationship. The first question I generally ask is, “Have you, or are you continuing to develop yourself in all areas (e.g. spiritual, physical, social and financial) of your life?” The initial response is usually a resounding yes.

    However, there is often one area many hide from: credit. When two individuals marry they connect to the credit history of their mate.

    What will your mate inherit when they marry you?

    Credit is often the elephant in the room no one wants to talk about. I am by no means advocating that you pull a copy of someone’s credit report — or offer up your own on the first or second date. However, I do encourage you to begin working on your credit during your “single season” and to continue once you’re married.

    Continue reading here…

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