10 Things Every Single Mother Should Know About Money Management – Part 3

Hey Mama:

Hopefully, you read 10 Things Every Single Mother Should Know About Money Management Part I and 10 Things Every Single Mother Should Know About Money Mangement Part II; if not, read those first:-)

#7 Your Credit Score Is Important–And It’s Not

Almost every financial guru will tell you that your credit score is uber important–after all, there are so many consequences of having bad credit, including:

• BEING DENIED EMPLOYMENT BASED ON POOR CREDIT:
  You might get denied employment based on dis-qualifiers on your credit report, which each employer determines individually. And, while Federal Law allows employers to check your credit during the employment process, these 10 states have outlawed employers from doing so.

  Most states, however, allow employers to check your credit. In states that allow these types of credit checks, an employer MUST get your signed consent. BUT employers do not get all the information on your credit report. Your credit score, for instance, is not shown to employers but other disqualifying criteria might be.

TIS THE SEASON WITH PURPOSE-Part III

TIS THE SEASON WITH PURPOSE-Part III

Mrs. Rhee

Now that you’ve got your mind right from Part I and Part II, you’re ready to put your plan into action with my top 9 holiday spending tips:

1)   Establish a Realistic Budget and Use the Envelope System:
Take a realistic look at your finances and bills and establish a budget for (1) holiday food and (2) gifts. Allocate amounts for each and place in two separate envelopes, labeled accordingly. Seeing it in writing does two things: (1) it forces you to make a contractual agreement with yourself, which is more difficult to break and (2) it serves as a receipt holder to keep a running total of your spending.