Credit Management Vs. Cash Management
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Robert Corter
Nov 27, 2013, 5:00:02 PM11/27/13
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Please consider this free-reprint article written by:
Robert Corter
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The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( http://www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article.
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Article Title: Credit Management Vs. Cash Management
Author: Robert Corter
Word Count: 517
Article URL: http://www.isnare.com/?aid=1870894&ca=Finances
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=1870894
Easy Publish Tool: http://www.isnare.com/html.php?aid=1870894
*********************** ARTICLE START ***********************
If you are having difficulty with your credit, using credit at all may be the furthest thing from you mind. It is completely understandable why you might want to deal only in cash, eschewing products as innocent as debit cards or prepaid gift cards. However, this is a fairly dangerous way of thinking when it comes to your financial future. Successful credit management makes it possible for you to take out loans such as auto or home loans. It also makes it more possible for you to lease, get a job, start your own business, or pursue higher education.
While credit management is critically important to your long-term financial success, you should not allow cash management to fall by the wayside. The best financial plan includes effective credit management and cash management. As a liquid asset, meaning it is quickly accessible, cash gives you the means to respond quickly to an emergency situation while you develop a plan with your financial institution or financial advisor to access the credit that you need. However, because returns are generally smaller with successful cash management the time spent on it is relatively insignificant when compared to the management of your credit.
In 2003 the Federal Reserve Board recommended several steps for good credit management. These steps are excellent to take whether you have struggled with poor credit in the past or not. These steps are:
* Building savings to avoid high-cost debt and improve payment options
* Paying your bills on time
* Pay more than the minimum payment
* Comparison shop for credit and obtain only the credit you need to meet your goals
* Understand your credit history and how it affects you
These steps are fundamental to developing a good credit history that establishes your credibility with financial institutions and credit reporting agencies. It is also important to spend more time on managing your credit because of the disastrous effects of a poor credit score on your life in general. A poor credit score can affect your car insurance premiums, loan interest rates, and other bills. Property management companies may charge you more in rent, or choose not to lease to you at all, if you have poor credit history. You may also have a challenging time gaining some types of employment, as many employers run a credit check prior to your start date. In the bigger picture, the Federal Reserve Board has also pointed out that using these strategies benefits the economy run more efficiently in the long run and help everyone to be more successful.
In the long run, successful credit management will improve your quality of life drastically. Indeed, much more than successful cash management. Having a good credit score, or making clear progress toward improving your score, allow you to access higher education, start your own business, obtain gainful employment, or become a homeowner. Successful credit management will also give you negotiating power when it comes to loan interest rates. Overall, credit management is crucial to enjoying a rewarding financial life.
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
Message delivered directly to members of the group:
publish-the...@googlegroups.com
*****************************************************************
Please consider this free-reprint article written by:
Robert Corter
*****************************
IMPORTANT - Publication/Reprint Terms
- You have permission to publish this article electronically in free-only publications such as a website or an ezine as long as the bylines are included.
- You are not allowed to use this article for commercial purposes. The article should only be reprinted in a publicly accessible website and not in a members-only commercial site.
- You are not allowed to post/reprint this article in any sites/publications that contains or supports hate, violence, porn and warez or any indecent and illegal sites/publications.
- You are not allowed to use this article in UCE (Unsolicited Commercial Email) or SPAM. This article MUST be distributed in an opt-in email list only.
- If you distribute this article in an ezine or newsletter, we ask that you send a copy of the newsletter or ezine that contains the article to http://www.isnare.com/eta.php?aid=1870894
- If you post this article in a website/forum/blog, ALL links MUST be set to hyperlinks and we ask that you send a copy of the URL where the article is posted to http://www.isnare.com/eta.php?aid=1870894
- We request that you ask permission from the author if you want to publish this article in print.
The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( http://www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article.
*****************************
Article Title: Credit Management Vs. Cash Management
Author: Robert Corter
Word Count: 517
Article URL: http://www.isnare.com/?aid=1870894&ca=Finances
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=1870894
Easy Publish Tool: http://www.isnare.com/html.php?aid=1870894
*********************** ARTICLE START ***********************
If you are having difficulty with your credit, using credit at all may be the furthest thing from you mind. It is completely understandable why you might want to deal only in cash, eschewing products as innocent as debit cards or prepaid gift cards. However, this is a fairly dangerous way of thinking when it comes to your financial future. Successful credit management makes it possible for you to take out loans such as auto or home loans. It also makes it more possible for you to lease, get a job, start your own business, or pursue higher education.
While credit management is critically important to your long-term financial success, you should not allow cash management to fall by the wayside. The best financial plan includes effective credit management and cash management. As a liquid asset, meaning it is quickly accessible, cash gives you the means to respond quickly to an emergency situation while you develop a plan with your financial institution or financial advisor to access the credit that you need. However, because returns are generally smaller with successful cash management the time spent on it is relatively insignificant when compared to the management of your credit.
In 2003 the Federal Reserve Board recommended several steps for good credit management. These steps are excellent to take whether you have struggled with poor credit in the past or not. These steps are:
* Building savings to avoid high-cost debt and improve payment options
* Paying your bills on time
* Pay more than the minimum payment
* Comparison shop for credit and obtain only the credit you need to meet your goals
* Understand your credit history and how it affects you
These steps are fundamental to developing a good credit history that establishes your credibility with financial institutions and credit reporting agencies. It is also important to spend more time on managing your credit because of the disastrous effects of a poor credit score on your life in general. A poor credit score can affect your car insurance premiums, loan interest rates, and other bills. Property management companies may charge you more in rent, or choose not to lease to you at all, if you have poor credit history. You may also have a challenging time gaining some types of employment, as many employers run a credit check prior to your start date. In the bigger picture, the Federal Reserve Board has also pointed out that using these strategies benefits the economy run more efficiently in the long run and help everyone to be more successful.
In the long run, successful credit management will improve your quality of life drastically. Indeed, much more than successful cash management. Having a good credit score, or making clear progress toward improving your score, allow you to access higher education, start your own business, obtain gainful employment, or become a homeowner. Successful credit management will also give you negotiating power when it comes to loan interest rates. Overall, credit management is crucial to enjoying a rewarding financial life.
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
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