Credit Repair News and Discussion

Credit Repair, Equifax, TransUnion ,collection agency, creditors, fix credit bad, credit bankruptcy News and Discussion

Monday, August 15, 2005

LA Weekly: Education Suze Orman and Robert Kiyosaki

I found this article in LA weekly that features both Suze Orman and Robert Kiyosaki.
Suze Orman spends a great deal of time talking about how a person needs to get control of their FICO score and that it will save them $thousands.

I like the Money Rules! points below. These are some pretty strong points.
#1 Read something every day about money. This means concentrating on make money an actual priority.
Learning about it and getting into control with it. Reading about money programs your subconscious about it.
As you get money thoughts engrained into your head, you'll get better at understanding the short term and long term
implications of how you handle your money.

Are You In Control Of Your Money?
By Amy Sorkin
Advertising Special Sections Writer

Suze Orman and Ramsey suggest investing in a Roth IRA. "It’s the best retirement vehicle you’re going to find, bar none," says Orman.

"If you’re 30 years old and save only $100 a month in a ROTH IRA until you’re 70, you’ll have $1,001,000," says Ramsey. "So you can retire a millionaire on $100 a month. That’s pizza and cable money."

Robert Kiyosaki suggests being more proactive than simply investing for the long term and diversifying. But it’s an absolute prerequisite that if you take a more proactive route, you need to get well educated before you start making more risky investments.

Money rules!

Here are a few money rules to keep in mind, based on the collective knowledge of our experts:
• Read something every day about money.
• Save something — even if it’s as little as $10 — every month.
• Never loan money out of a 401K plan or use it to pay off credit card debt.
• Never close down your credit card accounts once you’ve paid them off. If you do this you’ll hurt your FICO score.
• Never open up a lot of department store cards where you use more than 50% of the available credit. That will hurt your insurance premiums.
• A will is not enough in most states. You also need a living revocable trust (this applies to California).
• If you don’t yet own a home, that should be your number-one financial goal.

LA Weekly: Education: "
Are You In Control Of Your Money?