How to stop paying more for goods and services

As we entered the 21st century technology has played an even greater role in our lives. In most respects it has made life faster & easier- allowing us to surf the web from our phones, or check stock prices from the middle of the mountains. But it may be costing you more for goods and services..

Consider this; you may pay more than your neighbor on everything from cars, furniture, homes, cell phones even home health and car insurance if your credit rating is not up to par. How much more? Depending on what your credit score is( based on technology and algorithms which may report inaccurate information ), and your overall credit history you may wind up paying 15%-36% more for the same items and services your neighbor enjoys simply because of your credit rating.

Six months ago I spoke with a young 27 year old lady who had just gotten engaged. Her and fiancé wanted to invest in a home of their own and move out of moms basement..

Upon going through a credit analysis I noticed she had just financed a vehicle, and the payment was a rather high- $512. Being a lover of cars I curiously I asked her what make and model sports vehicle had she just purchased. To my amazement she confided to me she was driving a used Toyota! A Toyota of that make and model should not cost her more than $289 per month at most, but she was paying almost double. In fact she could have bought a Mercedes or Beemer for the same payments.

So why was she paying almost double? Because her credit was impaired, scores low and some items being reported were erroneous.

I explained to her and her fiancé had she known about her credit and fixed it prior to getting that vehicle- they could have invested the difference for emergencies or retirement. Over that 6 year period they would have accumulated a staggering $23,832.71. Both their jaws dropped.

They realized the financial impact their credit was having on their lives and how it was robbing them of their future wealth.

What should you do to pay less for everything?

Order a fr.ee copy of your credit report To order, visit annualcreditreport.com, call 1-877-322-8228, or complete the Annual Credit Report Request Form and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.

Make sure the information is accurate, complete, and up-to-date before you apply for a loan for a major purchase like a house or car, buy insurance, or apply for a job.

If you have blemishes or inaccurate information, take the proper steps to repair it sooner rather than later so it doesn’t wind up costing you more. If it seems like a daunting task engage a certified personal economic planner to assist with the process.

Most reputable planners will include a credit analysis and repair plan as part of their services. As in the case above with our newly engaged couple- I assisted them with getting “Economically Ready” for the purchase of their new home.

Within 5 short months of continuously advising them I was able to increase their scores from 532 to 675 from 566 to 682 and from 512 to 656 and erase 6 pieces of erroneous credit. They were both ecstatic. I was then able to get them approved for a home loan with very little money down (5%) at a very attractive rate of 6.75%. fixed.

Had they gone the traditional route of seeking out a mortgage broker or banker they would have been at a rate of 8.75% adjustable and would have had to come up with 15% down payment.

With proper planning, our happy homeowners saved over $92,160 in interest charges over the life of their loan. Oh and that high car payment was cut down to $311 after their credit was corrected…

Save-monthly by being wise about your money and credit!

Billy Alvaro
Claim your Free 1 hour Economic Problem Prevention Audit
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www.savemonthly.com/audit