This is a blog test: May 18, 2009

I am creating this blog just to see if my blog site has been restored. I had some trouble with spam infiltrating it. It seems to be working allright. Technology, isn't it wonderful!

Money & finance: #59: Credit, Money management and saving

I am blogging about the second exercise in the money management and saving lesson. I have tried in the past making a budget plan. I found the process very difficult because the budget I came up with usually never worked. I would like to try again especially in these troubled financial times. I did get some very good ideas from CNN Money. There ideas were to identify how you're spending now, and to evaluate your current spending and set goals that take into account your long-term financial objectives. It also said to track your spending to make sure that you stay within your spending guidelines. You should concentrate on what needs to be cut, beware of luxuries and spending beyond your limits. These are all excellent ideas, and I may try again to make and actually stay within a budget.

Money and Finance: #59: Credit, Money Management, and Saving

I read the article "How credit scores work, " and I took the credit score quiz. I learned that the main type of credit score is called FICO because it originated with Fair Isaac and company. Also, I learned that the credit scores range from 300 to 850. I didn't know that. Also, paying your bills on time is the most important part of gaining a good credit score. Another thing I didn't know was that research shows a correlation between lower credit scores and increased insurance claims. That's why your credit score is important in getting insurance. I will write more later as I get further into the course.