Financial Lessons Learned From Election Season

The results of Tuesday night’s presidential election paved the way for the reelection. While this will shape the political landscape during the next four years, there are a number of financial lessons consumers can take away from this campaign, other than how much they hate political ads.

When It Comes To Your Credit Score, Only One Number Matters
When polls closed, millions of Americans watched as electoral votes stacked up in favor of both candidates. However, some may have also paid attention to the popular vote.

While the latter was clearly displayed throughout the night, this number doesn’t matter since whoever gets the most electoral votes wins.

This is similar to your credit situation, credit counseling expert Jeanne Kelly wrote in the Huffington Post. There are a number of different credit scores you have access to, but the one that matters the most in today’s lending environment is your FICO score.

Currently, more than 90 percent of lenders utilize this number to see if you are qualified for credit, so make sure to stay on top of it.

Your Choices Impact Your Financial Future
The presidential campaign was rife with gaffes and missteps from both candidates, which ultimately impacted the outcome of the election. This is similar to your day-to-day financial decisions.

For example, if you go on a shopping spree and charge it to a credit card, this can result in serious debt in the future. Depending on your financial habits, sizable credit card debt can be hard cycle to break.

To stay out of more damaging debt in the face of an unexpected bill you can’t afford, rather than reaching for a credit card, consider a bad credit cash advance to relieve the pressure.

Check Your Credit On A Regular Basis
Every four years, Americans get a chance to examine the current political system and make any necessary changes by casting votes. On a political timeline, this is a fairly common occurrence.

With this same idea in mind, you should make sure to check up on your credit standing from time to time and make any necessary changes. Your credit standing has a big impact on your financial wellbeing in the future.

If you have a weak credit standing, it could make it more difficult for loans. Meanwhile, even if you get approved, you may be stuck with a high interest rate and other terms that make it expensive.

Save Money When Searching For An Apartment

With the year about to come to a close, many leases are about to end. This could mean that many people are going to soon be looking for a new apartment. This process can often come with expenses and could potentially force you to dip into your emergency fund. However, there are ways that you can save money when shopping for a new place to live.

Check Your Credit
Although you may not think your credit can affect your rental agreement, it most certainly can. Before searching for an apartment, be sure to have a good credit score (bad credit payday loans). Your potential landlord will look at your credit report before offering you the place. If you have an unfavourable score, you may find yourself with a bad rental agreement. A high credit score and clean report can help you when negotiating rent and other terms of your agreement.

Ask About Move-In Discounts
Many apartment communities offer move-in discounts at some point during the year. But you can’t take advantage of the if you don’t ask. These offers often fill up quickly, so it is important to be proactive. Oftentimes, landlords will offer one to two months of rent for free if you sign a year or longer lease. However, it is important to make sure you choose an apartment that is right for you. Don’t just sign a lease because the space is discounted for a couple months.

Don’t Forget The Deposits
There are a lot of costs associated with searching for an apartment. It is important not to forget about any of them. Simply looking at the price of rent is not the true cost of the living space. Many if not all apartments will require a deposit. Forgetting this cost could eventually put the apartment out of your price range. Some landlords may offer to waive or reduce the deposit, so it is important to ask.

Factor In The Cost Of Features
Other costs you need to account for are the features of the apartment. If living in the city, a parking space could be one of these. Before signing a lease agreement, it is important to know what feature costs you’ll be responsible for. If you can negotiate and get your landlord to pay for something such as a parking space you could save a lot of money.

Plan For In-Store Holiday Shopping

Holiday shopping can be stressful, but with careful planning and consideration, you can make this task much easier. Not only will planning out your holiday shopping reduce your stress levels, it can also help you save money. This last thing you want to do to start the new year is use payday loan advances for bad credit to cover your monthly expenses.

Decide What You Need
One of the hardest parts of holiday shopping is determining exactly what items you need and who you need them for. Take some time to sit down with paper and pen or at a computer to make a list of the items you need to purchase. Remember, the most specific you can be, the better.

If you don’t have a list of the products you need to buyer for loved ones, this can result is wasteful spending. If you have ever gone into a store without the slightest idea of what you’re looking for, you should end up purchasing items that are way off-base.

Research, Research, Research
It’s difficult to know what items you want to buy for friends and family if you don’t open a catalog or browse products on a company’s website. When you do this in the comfort of your own home, you can maintain more composure than if you were in a store.

Additionally, your research will give you an idea of what products are on sale. This way you can take into account the exact cost of certain items and come up with a sound budget. But keep in mind that many of the sales and discounts advertised may only be available of Black Friday, which takes place the day after Thanksgiving.

Plan Your Attack
In addition to deciding which items you need to purchase, you also have to determine when and where you are going to get them. If certain sales are only available at specific times and dates, you will have to add this to your shopping itinerary. While it may be ideal to complete all of your holiday shopping in one fell swoop, you may have to spread out your purchases.

The closer it gets to the holiday, the busier stores may become. Keep this in mind when planning your shopping timeline, as you will probably have to spend a considerable amount of time in line and at checkout counters.

Don’t Diverge From The Plan
One of the easiest ways to overspend on your holiday shopping is to veer away from your shopping plan. If you get to the store and see a certain item that may be perfect for that special someone, sleep on that decision. Although browsing a store and purchasing an item of a whim can be fun, this could ass a considerable amount of pressure to your budget.

Take To The Internet
To avoid lines and the holiday rush, many consumers plan to complete the majority of their shopping on the internet. While this can streamline the process, it’s still requires careful planning.

Try to only shop on sites that offer free shipping. This may be able to shave a significant amount of money off of your costs. Meanwhile, if you need to use a sight that requires a shipping fee, try to compile all your products into one order to save money.

Also remember the closer it gets to the holidays, shipping companies may take longer to deliver packages, so plan ahead.