Category: Finances

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Finances Marriage

4 Tips to Have Money Conversations In Marriage

Young couple managing finances, reviewing their bank accounts using laptop computer and calculator at modern kitchen. Woman and man doing paperwork together, paying taxes online on notebook pc

Trying to take control of your money but have having a hard time getting your spouse on board?
Do you find it awkward or uncomfortable when you try to discuss the state of your finances?
Does money often cause arguments in your relationship?
Looking to change the future of your finances but need a little help getting the conversation going?
It’s difficult when you find yourself in any of the above situations, but fear not! We are here to help. Try some of these quick tips below:
1. Ask your spouse – What are some of your short term and long term goals/dreams?
This question will allow them to open up about where they want to go, and it will help cultivate conversation on how the two of you plan to get there.
2. Dedicate a regular time you both can agree that will be set aside to talk about finances.
The frequency will depend on your needs as a couple, but setting up a time to talk regularly allows each spouse to mentally prepare for the conversation and come up with different points they may want to discuss on the matter.
3. Total up all your debts, assets, current cash flow and look at your monthly expenses. Start crunching some numbers to get a better status of your current financial situation. You can look at:

    • What does 6 months of expenses look like?

This was EXTREMELY eye opening to us. With money flowing in and out of our account on a monthly basis, we didn’t realize how much it takes to maintain our lifestyle.

    • What are our average utility bills? Have any of our bills gone up?

This will help you be more aware of your costs and keep from being overcharged. If you are not careful, your bills may start going up once a promotion has ended and you are signed up for a service you did not want to pay for. Don’t be taken advantage of because of ignorance.

    • What expenses are we paying for on a monthly basis that we can do without?

This can be tricky – one spouse may feel something is worth paying for while the other does not. This is not meant to start more arguments, but to discuss expenses that you both feel are non-negotiable, and others that are more luxurious to put things in perspective for both of you.
4. Create a pros & cons list regarding your financial goals.
Show your spouse the benefits, but ask them for their thoughts and opinions. Allow them to have a voice, and be willing to compromise so you both are happy. If these are goals you both want to achieve, it will be much easier to make progress.
 
Remember: these are just tips to get the conversation going, not necessarily solutions. Like anything else, the more you do it, the easier it will get. Money doesn’t have to be an argumentative topic if you train it to be positive, and treat it like a resource to grab the future you are looking for.

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Finances

Money Monday: Why Banks Don't Want You to Have Good Credit

Believe it or not, most banks don’t want you to have good credit. As crazy as it sounds, most financial institutions would rather have more consumers with below average credit score and reports. This is also part of the reason why banks don’t educate their clients on credit scores and report improvement or education. In short, consumers with great credit tend to pay their bills on time. But wait, why do many banks deny those with below average credit? I’m sure glad you asked!
 
Sub-Prime Accounts
If you have ever been to a steak restaurant, the waiters and waitresses will give you their script on the quality of the steak, right? They talk about how they are better than any other restaurant out there and how prime they are. Prime is the word used to determine the highest quality grade of steak. This same meaning is probably the best way to describe prime and sub-prime when dealing with banking. In short, “Prime” is the highest quality and “Sub-Prime” is the lowest quality. Sub-Prime accounts in banking normally pay a much higher interest rate compared to their prime consumers. The interest you pay to a bank is determined mostly by your credit score and report.
Most prime consumers will have a history of paying their bills on time and because of that, they will more than likely get a lower interest rate and a lower payment. When a bank lends to a Sub-Prime consumer, the risk is much higher as there are increased chances of late payments or a defaulted account. So, if the risk is higher for the bank, why would they want more of this? The answer is simple…..Higher Interest Rates.
 
Higher Interest Rates
Even though sub-prime consumers increase the risk for banks, these are the account that the banks make the most money on when the consumers pays over time. For those who don’t know, interest is how banks make money. Interest is the added amount to the borrowed amount that gets paid back over time. In short, banks need a certain amount of sub-prime accounts with higher interest rates to cover expenses and etc. This increases the risk as many accounts have late payments and eventually go into default. So, if you are ever wondering why banks have huge buildings, high paying salaries to the big people at the top, and have many locations, take a look at how many sub-prime accounts they have.
 
But What If
Yes, I know the question you are thinking right now might be something close to this….”What if the bank has too many sub-prime accounts and those accounts don’t pay?” This will lead to a recession as the banks must be able to lend to keep the economy going. Prime accounts are great investments as well for most banks. The problem is it’s only so much money a bank can make from consumers who pay their bills on time and have a lower interest rate.
Denied Low Credit Scores
If this is the case, more banks would try to hold more sub-prime accounts correct? Not necessarily. It is not a smart move to approve every sub-prime applicant that applies for the financial product. This will soon lead to an unstable balance and more accounts will default. Some financial institutions have very strict rules on their sub-prime process to lower the chances of defaults. In these cases, the banks will ask for co-signers, higher down payments, more collateral, references, proof of address, and proof of employment. This also creates more loyalty from the consumers. Eventually, they know the situation may have been difficult to get the approval, but overtime, they begin to show trust. Customers with trust end up staying with the bank and with higher credit scores down the line for better terms.
Bottom Line
Hopefully you will have a better understanding as to why banks don’t want you have to good credit. Keep in mind, it’s not about what the banks want as you will be the one paying the payments each month. You have to position yourself and your credit to always have the best financial outcome possible. Of course, if your score is not where you want it to be, we can always help improve that with out personal step by step game plans.
 

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Finances Marriage

3 Reasons Why My Spouse Isn't Getting Much For Christmas

winter, fashion, couple, christmas and people concept - smiling man and woman in hats and scarf hugging over holidays lights background

‘Tis the season to go shopping! It seems everywhere you look, there are deals – online, commercials, catalogs. The Christmas shopping season has officially begun!
Some couples love to spend lots of money on gifts – whether it be Christmas, birthdays, anniversaries, or any other special occasion. We choose to put limits on the amount of money we spend for each occasion. Here’s why:
1. It keeps us from placing a value on our relationship based on the amount of money the other spent.
Now this is just silly. If you think your spouse doesn’t love you enough because they didn’t spend at least $500 on your Christmas gift, there are probably some deeper issues you and your spouse need to work through together. The monetary cost of a material item that you probably don’t need should NOT be the determining factor in what you think your spouse feels about you. (Personally, I love when my spouse saves us money!)
 
2. It helps us stay on track with our financial goals.
Do we ever want something that costs more than we would like to spend? YES! We are human. We enjoy nice things. We still have wants and desires just like everyone else, but when it comes to the bigger, more expensive things, we like to plan them into our budget and save up ahead of time. As an example, ten months into our marriage, we purchased a pretty expensive little puppy. It was something we knew we wanted, so we spent several months making sure we had the savings handy for the right moment (and the right puppy, of course). Are there times that we have bent this rule and splurged? Yes – one of our favorite traditions is going downtown on a random day around Christmas to see a Broadway show in Chicago. We try to set a limit for these shows, but we often spend a little more than we plan for. There are going to be once-in-a-lifetime experiences that come up, and that’s okay if you can afford it, but it shouldn’t be the norm. And it shouldn’t ruin your financial goals. Don’t let something material put you behind financially for the sake of short-term satisfaction.
 
3. It allows us to spend money elsewhere.
This point really determines what is most important to you. Maybe gift-giving and receiving is your primary love language. If big gifts are important, and you and your spouse can afford it, then great! In our house, we prefer to spend less money on gifts in order to save for things we really enjoy, like vacations. Understand that you have a set amount of money, and you can’t afford everything. So make it a point to prioritize where your dollars go, ensuring it aligns with where you want to take your financial future and the lifestyle you want to support.
 

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Finances

Relationships & Finances: Why Women Have Better Credit Than Men

Worried young African American couple looking through bills online

Yes. The argument has just begun lol. This is actually not a debate, I have seen over 8400 credit reports in 5 years and the numbers are about the same now versus 5 years ago. In this blog post, I will explain a couple of reasons why most women have better credit scores than men. It’s not that men don’t have great credit. It’s the fact that more women simply care more about their credit scores and reports.
Men, like we always do, seem to let our ego get in the way and act as if we know it all when in most cases, we don’t. This post is not to belittle men,  I myself fell victim to this before and if it wasn’t for my wife, we wouldn’t have accomplished as many goals as we have. So trust me, I understand first hand. As you read this, don’t take anything personal, this is not all women or men, but it is most. Let me break down why.
Women Simply Care More About Their Credit
Women make the same mistakes that men do but, they have no problem looking for someone to help them improve their credit score. Most women actually care about having better credit scores. Men on the other hand, sugar coat the issue and believe that they have all of the answers. I truly believe that because of our ego, we put a limit to our success and in this case, our credit scores. I have personally spoken in front of many audiences and during my presentations, women are taking notes and being more attentive.
For the most part, many men feel like there is no room for credit improvement or that there are no mistakes in their financial lives. Men feel like their money is being graded by how much they make. Because of this, we end up paying cash for everything which is good and bad. It’s good because it doesn’t create unnecessary debt. It’s bad because we feel that if we pay cash, others can see how we are doing based on material things and how we pay for them.
The Problem With Women That Have Great Credit
We all know that most women have great hearts and they like helping people. The problem with this is that some people take advantage of them. For example, cosigning for a loan, living space, cell phone, credit card, or etc. I am not saying that cosigning is bad, but there is a time when you should do it and when you should stay away from it.
This will eventually lead to lower credit scores if the person without the best credit becomes late on payments, misses payments, or closes out the account with an open balance due. This does not happen all the time but why put yourself in a situation that you cannot control 100%?
What Men Have To Understand
Men that don’t have the best credit must understand that it is not ok to keep going through life without knowing how credit works. We have to know that buying a car from a “Buy Here, Pay Here” will not help us in the long run when we need another car. It’s ok to pay cash for things yes, but most incomes will not be sufficient when it comes down to a reliable car/truck or home purchase. We have to learn for ourselves instead of depending on our female counterparts for credit support and know that life is easier with better credit scores. I am not saying don’t ask for help when needed, I am simply saying make sure you create a plan for yourself after the help is complete.
The Bottom Line
I hope I didn’t upset anyone with this article. For those of you who have read from me in the past, you know that I always provide the best insight I possibly can and it may come with a little tough love as well. I want the absolute best for everyone but I see too many adults not taking responsibility for their finances.
 
Calvin Russell Jr is a Certified FICO Professional, Approved Partner With Bankrate, and the CEO & Founder of GoSimplyPro Credit Consultation. GoSimplyPro Credit Consultation is a Chicago based Credit Repair Company that helps clients get better credit scores. GoSimplyPro Credit Consultation has helped hundreds of people increase their credit scores, qualify for homes, cars, and lower interest rates with their personal, Step-By- Step Game Plans. Contact us today to learn more at 877.205.7771 or email us at info@gosimplypro.com.

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Finances Marriage

7 Tips to Leave an Inheritance for Your Children's Children

African American family together outside their home

Wanting the best for your children is a universal desire for all parents. Just as God doesn’t desire to see His children struggle, no one ever aspires to see their children struggle or go through the financial challenges they may have faced.  
Far too many of us know the “struggle” too well. Trading long hours for dollars to barely get by.  Chances are, your parents did the same thing and your parent’s parents likely did too. In fact, financial issues are one of the top reason for marital problems and divorce.
Our beliefs and understanding of finances typically comes from our forefathers, creating similar cycles until something or someone changes. Proverbs 13:22a says, “A good person leaves an inheritance for their children’s children…” This wasn’t my story or my husband’s. But it doesn’t have to be the same for our children. Together my husband and I plan to one day leave an inheritance for even our future grandchildren. Below are 7 tips we’ve discovered and started doing to create the necessary financial changes in our lives:
 1.  Mindset: We should never idolize or worship money but our belief system and mindset regarding finances can explain a lot. How do you currently view money? Do you believe only the rich get richer and the poor get poorer or that it’s hard to come by, etc? Those may have been your past experiences but they don’t have to continue to be your reality. God desires to see his children prosper. If needed, shift your mindset to align with God’s word regarding your finances.
2.  Purpose: Discover and walk in your purpose. By doing what we are created to do opens doors and God provides provision.
3.  Financial stewardship: How are you managing your finances? Can God trust you with what you have now? Luke 16:10 says, “Whoever can be trusted with very little can also be trusted with much, and whoever is dishonest with very little will also be dishonest with much.”
4. Giving: This one is pretty self explanatory. “Give, and it will be given to you. A good measure, pressed down, shaken together and running over, will be poured into your lap. For with the measure you use, it will be measured to you” Luke 6:38.
5.  Investing: Most of us were taught to go school, get good grades and find a good job. And that’s it! Seek counsel and wisdom on how you can invest your money, time and talents to reap a return. The parable of the Talents (Matthew 25:14-30) is a good illustration of investing.
6. Working hard: Even though God doesn’t desire to see us struggle we still have to do our part. We can’t sit around doing nothing and expect a return. Proverbs 10:4 says, “Lazy hands make for poverty, but diligent hands bring wealth.”
7. Raising your children to do the same: Starting young, we should begian instilling all of the above into our children. An inheritance is not just financial, it is also wisdom. Teaching our children how to give, invest, steward their money, etc will create a generational cycle of financial success.   
 
 

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Finances Marriage

How We Paid Off Our Car in 24 Months

Worried young African American couple looking through bills online

Creating a budget changed the trajectory of our financial future.
The most important thing a budget can teach you is financial discipline. How to take control of your money, and make it do what you want. Here are a few things my husband and I learned through creating our first budget.

  1.  Our Normal Cash Flow on a Monthly Basis

 
Seems elementary, right? My husband and I never bought anything we couldn’t afford, always living within our means, but it wasn’t until we totaled our income on paper that we really understood how much money was flowing through our hands on a regular basis.
 
Why is this important you may ask?
 
As we created our first simple budget, we realized we had the ability to save more than we had been through our first year of marriage. Because we never actually SEE the exchange of money, we buy, buy, buy and do not feel the financial impact as long as our basic needs are met. Seeing the numbers on paper helped open our eyes to our financial potential.
2.  Money Management
 
With numerous accounts and various bill dates, this can be intimidating and overwhelming when it comes to financial management. For us: our water bill comes every other month, garbage bill is quarterly, student loans come out on the 14th, car loan on the 5th, our credit card bill is due at the beginning of the month (but for last month’s purchases), mortgage end of month, utilities’ cost varies…how do you keep it all straight?!
 
With all of the variables mentioned above, it was hard to ever really know where we were at financially at a given time.
 
Getting organized, we were able to create a spreadsheet on what bills come out when and how much we could expect. By keeping our eyes on our average bills and amounts we were seeing hit our account, we were able to catch two mistakes within two months – totaling an additional $100! If we had not been watching our account, we would not have even known that money was missing and would not have gotten the money refunded.
 
This is your hard earned money that someone is trying to take from you. Don’t let your complacency or laziness pull money from your account.
3.  How to Create a Plan
 
As a millennial, coming out of school, loans can be daunting. It seems like you are just getting started in the world but you are already two steps behind. Once we laid out our budget, we were able to identify different areas we could cut back our spending and where we could afford to add extra money to pay off our debts.
 
When we developed goals and created real plans with payoff timelines, the motivation was unreal. Watching the balance of our loans go down each month has been so exhilarating! We could feel the progress as we inched closer and closer to financial freedom.
 
With focus, discipline, and determination we paid off my car loan 3 years early and are on track to pay off my husband’s 10-year student loans in 2 years!
It’s time to reclaim control of your money and start putting it to work for you instead of it telling you where it will go.
 
What are some successful habits you have found when it comes to managing your money and eliminating debt?
We want to hear about your smart financial decisions!

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Finances Marriage

3 Wedding Regrets

Bride and groom put their hands together on wedding bouquet

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Finances Home

The Difference Between Purchasing & Leasing A Car

Handsome men sitting in a car at car dealership.He is receiving key from his new car.

When shopping for a car, many of my client’s ask me to explain the difference between purchasing and leasing a car. Leasing has become quite popular recently as more and more consumers are looking for the best payment and to stay within their budget for a monthly car payment. Purchasing a car is easy but leasing a car can sound confusing if it is not explained properly.
 
Leasing A Car
I assume for the most part, most consumers know just about everything there is to know about purchasing a car. So, I will explain what it means to lease a car. The easiest way to explain it is to simply think of leasing a car like you think of leasing an apartment.
With an apartment, you lease the space for a year or so and you are responsible for damage. Using the same example, at the end of the lease, you can renew the lease or you can go to another apartment and start the process over again at another apartment complex. With leasing a car, it’s about the same thing. You drive the vehicle for a certain period of time, normally 24 – 36 months depending on the manufacturer. During this time, the driver is responsible for any vehicle damage, insurance, and mileage.
Mileage
Mileage is the number one reason that most consumers stay away from leasing a car. Most manufacturers offer mileage limits of 10,000 – 20,000. The most common lease for non-luxury vehicles is 36-39 months and 12,000 Miles/Year for 3 years.
One common misunderstanding is that you CAN NOT go over mileage. You can go over your mileage per year or per month but as long as your mileage is not over the limit by the time your lease is up, then you will not pay an extra cost.
The reason that there is an extra cost for over mileage is because the original contract is set to have a certain mileage once the vehicle is returned. In most leases, the extra cost is 10 cents per mile that is over the limit of miles. Of course, some brands charge a lot more and over-mileage can become costly. 

Read: “How To Finance A Car With A Previous Repossession”

Pros of Leasing
The best part about leasing a car is that at the end of the lease, you have the option of being done with the lease all together and you turn in your keys. You can also purchase the lease and normally the payment stays around the same.
This works for many consumers as some finance a car every 2-3 years and end up carrying over a negative balance over to the other car over and over. After some time, this becomes expensive as the best way of negative equity is time, money down, or both. With leasing, you also don’t have to worry about major maintenance like tires, brakes, or rotors in most cases. This is perfect for consumers that want to swap out cars every 3 years or so, drive average to slightly above average miles, and not to mention leasing normally gives a lower payment than a purchase.
Of course, leasing is a privilege and is only offered to those who qualify. I would have to say that a lease works favorably with an auto credit score of 640. Your auto score is only obtained from either getting your credit report pulled by a lender or dealership or by purchasing it for a low one time cost. 
 
Purchasing A Car
I will keep this short as this is the most common way of acquiring a car. One thing to keep in mind is that you only own a car once you have the title to the car. Many consumers say that leasing will not work for them simply because they will now “own” the car. I laugh at this every time because if you miss 3-4 payments on a financed auto loan, you will find out who the real owner is.
Most consumers never finish paying off an auto loan and there is nothing wrong with that. Most manufacturers change body styles, equipment, technology, and incentives every year on different models. Because of this, consumers are eager to purchase the latest and greatest. There is nothing wrong with this but the consumer must understand that you can trade in a car anytime but there are times when it makes more sense to do so.
The “sweet spot” to trade in an open auto loan (current auto loan) can vary based on contract terms, miles, interest rate, vehicle condition, and etc. In most cases, most auto loans are in 72 months and if that’s the case, the best time can be around 36-60 months.
Of course, you can always trade out of the car before that but depending on your interest rate, you could be in a situation in which you are “upside down” meaning your car is worth less than what you owe. This can have you putting money down, downsizing in cars, or increasing your monthly payments. With leasing, you never have to worry about negative equity (upside down) unless you jump out of the lease early.

Watch: “How To Lower Your Current Car Payment”

How Credit Affects Purchasing
An auto loan purchase is mainly based on your credit score as well. A credit report with few accounts will have you paying a higher interest rate and a report with too much activity may have you doing the same. The best way to handle this situation, is to simply get an update credit report and see for yourself. One thing that many consumers never consider is refinancing their car later down the line to get a better interest rate or lower payment overall.
You can get a lower rate by taking out an auto loan on a shorter term, but sometimes this will result in a higher payment since the bank is getting their money back faster. You can also get a joint applicant in which both your credit report and your joint applicant’s credit report is taken into consideration. Some manufacturers do offer low interest and first time car buyer programs but there are qualifications to be met as well.
Bottom Line
 I want to make sure all the information is given to my readers to educate them on their options and build confidence. Hopefully, you have a better understanding of the difference between buying and leasing a car. 
 
 

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2 Ways You Are Sabotaging Your Business

Young mixed race woman smiling while standing in the door of her cafe with her arms folded proud to be the owner of a small business

by Calandra Thompson  & Culus Williams
We are predestined with purpose before we are born into this world. God positioned us for the post that he had already promised. God has given each of us gifts to edify the body of Christ and to glorify his name.
God has given some of us the entrepreneur spirit to start our own business. Not everyone is graced to have this gift. People with this gift seek to be game changers in a particular business field. You were born with the gift to change the game.
1 Peter 4:10 Each of you should use whatever gift you have received to serve others, as faithful stewards of God’s grace in its various forms. (NIV)
The gift that God has given you isn’t for you but it’s to serve his people. Through you, other people will be blessed and inspired to continue on this journey we call life. Sometimes we allow our flesh to rise above our God given talents. Here are two ways you might be sabotaging your business.
1. Customer Service
The way your customers are treated can make or break your business. Every employee, including the owner should have some type of customer service training. Customer service is the important factor that sets your business apart from the competitors. Your staff should be friendly, knowledgeable, and available to meet the needs of the customers.
Poor customer service leaves a bad impression on the customer. The customer may even write a bad review online or post a status on their Facebook page that just may go viral. Be careful that you’re treating each client with dignity and respect. Your business will continue to thrive if you’re maintaining good customer relations.
2. Cut it
We have found that many small business owners choose to offer a similar product to their competitors but at a higher cost. “Your price is way too high, you need to cut it!” If you’re creating bars of soap don’t attempt to sell one bar of soap for $25.00. When the consumer could go to Wal-Mart and purchase 8 bars for $6.00. Think about the demographics and the community you are servicing. Then ask yourself, “Would you pay this amount for the product?” If your answer is “NO” then you need to cut the price.
We understand that your business needs to make a profit. As a business owner it’s your job to keep the production cost as low as possible. Then you have to figure out how much the customer will be willing to pay for the service. Then, the product that you’re offering must be valuable to many not just a few.  
We are glad that God has given you the gift of entrepreneurship. We also want you to be successful in the business that God has placed on your heart. We don’t want you to self-sabotage yourself or the business. We want your business to grow and bless the people that God has connected to you on purpose for a purpose. Remember, your business is the way you serve God and his people.

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Finances

Unless You Plan On Paying, Think Twice Before Co-Signing

by Calvin Russel Jr.
I know many of you have been waiting on me to go over this topic. This topic is one of the most important financial decisions most consumers make. Some make this decision for their children, spouse, significant other, or simply a friend. I will go over the best scenarios of when you should and shouldn’t co-sign.
What Does It Mean To Co-Sign?
I must go over this first as a lot people have very bad information on what it truly means to co-sign for someone. A Co-Signer or Joint Applicant is someone that is responsible for their share of the liability. For example, if you co-sign for your sister so she can be approved for a vehicle, apartment, credit card, furniture,  or anything that expects monthly payments or rent, then you are 50% liable  for that item. Meaning if the item is for your sister and she makes the payments on time every month, you will also benefit from that payment history and more than likely, your credit score will increase as well. The drawback is that you will be affected negatively if those payments are late, missed, or if the car is repossessed. That repossession will be the same as you repossessing the car which will surely decrease your credit score. Co-Signing for an apartment is slightly different as those late payments will not show on your credit report unless the landlord or agency has a monthly credit reporting plan in which case it can affect your credit score.
 
When Co-Signing Is A Good Idea
This is probably most asked question from my clients and probably one of the toughest to answer. I say that because there is no crystal ball to tell us when or if a person will ever be late or miss a payment. The only time it would make sense to co-sign is, if and only if, you can have some control in the finances and making the payments on time. For example, you co-sign for your child but you have their checking account automatically transferring the money to your account every pay period to ensure an on-time payment. Another example would be if you take care of all of the finances for that person, it wouldn’t be a problem because you have access to their money coming in and going out. Being married and co-signing for each other is not a problem in the beginning because there is a level of commitment, but keep in mind what may happen in the future

When Co-Signing Is A Bad Idea
Anytime you have to hope, wish, or pray a person makes the payment on time, co-signing for this person may be a bad idea. I have seen every scenario from parent and child, husband and wife, boyfriend and girlfriend, friend and friend, family member and family member, and even random people co-signing for people they don’t know that well. Remember, co-signing is more than just being responsible for making the payments; both parties also own 50% of the vehicle. Meaning, if one person wants to trade it in or take it from you, you will have a problem because they own half. Of course you can’t chop a car in half, but banks overrule courts because someone has to make the payments each month regardless of who drives it. The biggest problem you can have is when the paying party is late on payments or worse, the item goes into default. Not only will your credit be equally damaged, but you are also eligible to be sued in a civil suit. To avoid all of this, remember, it’s ok to say NO!
Bottom Line
As you can see, there is no perfect scenario for co-signing as there is always a risk. Many things can negatively happen and with so many crazy things taking place in people’s lives, it’s probably best that you say NO to co-signing. There are MANY banks that will finance items without the person needing a co-signer. A nice down payment will always help the situation or a higher credit score. Whatever you decide, don’t say you didn’t know from this point forward.
 
Calvin Russell Jr. is a Certified FICO Professional, approved partner with Bankrate, and the CEO & Founder of GoSimplyPro Credit Consultation. GoSimplyPro Credit Consultation is a Chicago-based credit repair company. GoSimplyPro Credit Consultation has helped hundreds of people increase their credit scores, qualify for homes, cars, and lower interest rates with their Step-By- Step Game Plans. Contact us today at 877.205.7771 to learn more or email us at info@gosimplypro.com.