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Showing posts from November, 2018

How to Keep Your Credit Score High From Day One

When you’re just starting out in life and you don’t have a credit score at all, the whole concept of having credit, building it, and maintaining it can seem very daunting. Fortunately, there is quite a lot of information available on how to maintain good credit from the time you pull your first credit report. However, first, let’s break down what a credit score is and why it matters. What Is My Credit Score? Your credit score is also called your FICO score. FICO stands for ‘Fair, Isaac, and Company,’ which was founded in San Jose, California back in 1956. It developed the score that we use today to decide whether someone is “creditworthy”. This is what a lender looks at when they’re determining whether to give you that car or home loan that you want. Your FICO score takes into account the types of debt that you currently have, how much you owe on those debts, how many new accounts you’ve created recently, and how long you’ve had any type of credit at all. The lowest score you can

Negative Gearing: What It Is and Why It Can Be a Positive Investment Move

There’s a good chance that you’ve heard the term negative gearing before. It’s in the news pretty frequently, which is how it’s slipped its way into the daily lexicon. If you’re currently a property investor or are looking to get into that world, then you’ve definitely heard of the term. In Australia, a debate rages about the pros and cons of negative gearing and what the possible benefits and risks that come with it are — for both individuals and the economy as a whole, it’s been a favored strategy for Australian investors for the past decade. If you’re looking for an overview to assist in achieving your dreams of building an abundant property portfolio, read on to learn what negative gearing is and why it can be a positive investment move. What is negative gearing? Negative gearing is a tax strategy in Australia. The term is used to describe an investment if the net income (after subtracting expenses) is less than the interest on the borrowed money. In other words, an in