Shores Financial LLC’s Post

Credit scores are tallied using a whole slew of factors, and they aren’t always as straightforward as whether you’ve paid your bills. Just so you’re clued into these surprising credit score saboteurs, check out this list to make sure you aren’t destroying your home-buying odds without even knowing it. >> https://vist.ly/mvma

The trend of American borrowers inching closer to maxing out their credit highlights a concerning pattern in consumer finance. As borrowing limits are approached, the potential risks of financial overextension become more pronounced. For those nearing their borrowing limits, it's necessary to assess and strategize their financial situation. National Debt Relief offers the necessary guidance and solutions to help individuals prevent the pitfalls of maxed-out credit and build sustainable financial habits. #CreditManagement #FinancialCaution #DebtAwareness

Bankruptcies are coming. This same situation happened in the 2007/2008 financial crisis. People tried to maintain their lifestyles with credit, until they couldn’t anymore. Then they filed BK. Buying opportunities will be abound for those with cash when it happens again—which seems likely to be relatively soon. #investing #credit #tax #internationaltax #tax #bankruptcy

Ha! So true Jimmy. And we will see big tax problems arise as creditors may kindly forgive some debt owed by American borrowers.... You have mounting credit card debt. Like an angel from above, your creditors agree to forever forgive some of the amounts you otherwise owe. You cannot believe your good fortune and feel as if you are in heaven…. That is, until the US taxman comes calling. Suddenly, instead of feeling richer, you realize you are a lot poorer because you owe Uncle Sam tax dollars on income you never put in your pocket. The problem gets worse if the debt involves foreign currency. Here’s the scoop…. https://lnkd.in/djxFdUWE

With interest rates being higher than what we are accustomed to, some lenders are advertising lower rates ... but there's a catch. We dive in to show you how to spot it.

Ready to buy a home but worried about your scores dropping from having credit pulled? Stop sweating the small stuff, the most points you can lose is 3 and that's after we pull credit. We need to get our eyes on a copy of your report to know how much we can qualify you for and at what interest rate, with rates on the rise now is the time to get everything locked in! Questions? Leave a comment below or shoot me a message. https://lnkd.in/gwRsgR2x

What are you waiting for? It's Fed decision day. I love any day where there are countdown clocks involved. We're counting down the hours, minutes and seconds to the time when the Fed decides — not to do anything. How about you? What are you waiting for? Are you putting off making a good financial decision? Waiting for "the right time" to make a smart money move? Thinking you'll be on the road to financial freedom when: Interest rates start falling The market crashes so you can "buy some bargains" You pay off some debt You make more money The kids get older, and you can finally save some money You figure out how to start Whether interest rates are rising, falling, or staying the same, there are smart financial decisions to make. What are you waiting for? https://lnkd.in/gQJxe-zS

In a recent CBS News article, Kelley Leix, senior vice president of client deposit services, shares why short-term CDs are a smart choice in today's economic landscape. Learn how to make the most of your money with high-yield, short-term options at the link below!

When you leave your money in the bank everybody and their mother is putting your money to work except you. The bank lends out your money (with interest) because they know unlike you that money can’t produce anything sitting idle. Just like you cant gain growth in muscle without exercise. The market is the gym for your money that comes with no guarantees for growth but with continued attendance over time can yield rewarding results. Don’t let your money be lazy sitting in a bank account. 10k in a High yield account of 5% is $500 dollars. So the simple question is could you have made more than $500 anywhere else from that same 10k you loaned to the bank for 365 days.🤷🏾♂️ $500/365days =$1.37/Day end of year credit

There are still 5% + rates on two year terms. Keeping too much money in checking accounts with little to no earnings hurts you. Let me share a secret; banks depend on your reluctance to move your money into higher interest rate accounts. Basically, you are letting the bank make money on your money.