Buying a new, or ‘new to you’ car is very exciting, though it can also be very expensive. We have assembled a few tips to save money, from driving at the speed limit to using the manufacturer’s recommended fuel type. There are several simple steps you can take to help keep your car running smoothly and to reduce your overall costs. Budget for More than Just the Car Before you buy a car, it’s important to be aware of all the expenses you’ll need to budget for. Your monthly car payment is just the start—you’ll also need to budget for things like insurance, gas, and routine maintenance. If you ..read more

Retiring early with complete financial independence is a dream for most of us. But achieving this goal is not as unrealistic as you might think. With the right strategy, gaining financial independence and security and retiring early is possible for anyone with a consistent income. You just need to know the basic steps. To help you bring your dream to life, we’ve outlined the philosophy behind FIRE and how you can implement it into your retirement plan for future financial liberation. What is FIRE? FIRE really is the acronym for Financial Independence, Retire Early. It’s a lifestyle and finan ..read more

The key to achieving long term financial success is to balance your investments and business expenses with your income to ensure that you’re operating within your means. You may need to invest in a variety of products, services, tools and technologies to help your business grow, but these investments should always be made with a sound budget in mind. The current tools and processes you use may need evaluating too, as there may be better, more cost-effective ways to achieve the same results. Your products and services of choice also need to assist in your business’s growth, otherwise, they ma ..read more

Most people don’t think about car insurance until they have to and then it can be a huge shock to learn that rates went up. To help you prepare, here is some valuable information that can help you plan for car insurance costs and changes in premium rates. Keep reading to find some tips on keeping your premiums as low as possible and protect yourself from unexpected insurance expenses. 1.  Always Get Multiple Car Insurance Quotes Even if you’re already signed on with a company like USAA car insurance or State Farm, it’s always prudent to keep an eye out for changes in rates. By s ..read more

Top 5 Methods for Bankruptcy Prevention Something urgent came up.  Someone got sick.  Something broke down. Someone lost their job.  Someone encouraged you to buy those new shoes you had to have! Then $100 of credit card debt turned into $500, and $500 turned into $1,000.  Before you knew it, your family was thousands of dollars in debt trying to recover from unforeseen circumstances.  These are often just a few of the reasons that lead people to the hard decision to file for bankruptcy.  But what if these things could have been faced head on and bankruptcy avoid ..read more

Evading and Escaping the Credit Card Trap When used responsibly, credit cards can be very convenient and useful financial management tools. The various perks, including travel rewards, are hard to ignore; and the cash back rewards are truly free money! Credit cards also offer excellent security and protection against fraud. While debit cards also have measures in place to deal with fraudulent charges, the benefit of using a credit card is that you will not be fighting to get your own money back when a charge is disputed. Credit cards are also a powerful tool in building your credit score, wh ..read more

Have you ever noticed how frequently you receive credit card offers? They may come in the mail, through email, or when you make a purchase with online retailers.  Often, these solicitations will say that you are pre-approved and that your purchase would be worth so much more, either in savings or rewards, if you open a new credit card. If managing your debt, enhancing your financial situation or improving your credit score are part of your goals for the year, some of these offers might sound like a great idea.  You also may hear a lot of opinions from friends and family who believe h ..read more

Have you seen your credit score recently and been less than thrilled with your report? Potential lenders use this score, along with your credit history, to determine your future ability to repay the credit they consider extending you. The first step to improve your credit score is to understand the five factors that contribute to the score calculation.  Your Payment History – 35% Making payments timely is the largest factor in determining your score. Paying at least the minimum amount on your credit cards/loans by each due date allows for a more favorable history. It can be challenging to ..read more

Have you been getting bombarded with emails about credit reports?  Emails with subject lines like “instant credit report” or “your credit report may have changed” are trying to sell you a product that you can get for free. The Fair and Accurate Credit Transactions Act of 2003 gives you the right to get a free credit report every year from each of the three credit bureaus: Equifax, Experian, and TransUnion. The only official website to obtain these free reports is annualcreditreport.com.  What happens after you pull the free credit reports? How do you know what it all means? One ..read more

At CCCSMD, our goal is to help you overcome financial hurdles by teaching you how to manage income, credit, and debt. By teaching our clients how to do this on their own, we know you’ll prosper independently with the skills you need to succeed. With more than 5-decades of financial advising experience, our team of professionals has seen and heard it all. Using webinars, we share this knowledge in the hopes it will help you become financially stable. Interested in knowing a little more about our webinars and how they work? Here are some of the benefits you can expect when you join a CCCSMD work ..read more