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Credit Reports & Financial Advisors

Credit where Credit is Due

In all developed countries, a person’s credit is their defining aspect as a consumer. From the applicant’s credit score, businesses will decide if they are worth investing time and money into. For better or worse, you are your credit. Credit is scored in three separate agencies, meaning consumers actually have three separate credit scores. These numbers combine to form a person’s base credit score. This is the score that will appear whenever a business or company requests to run an applicant’s credit.

How reliability is measured

A person’s credit is dependent on a wide variety of effects. For one, credit relies a great deal on past bill payment reliability and timeliness. Being late consistently on payments or only paying the minimum amount due will reflect negatively on a credit report. Having a large amount of revolving credit can also drag a person’s credit down. While someone’s credit may be decent, being in large amounts of debt all the time will make someone appear to be more of a financial risk. At its heart, that is what credit reporting boils down to – are you a risk? Living life with an abysmal credit score can be remarkably difficult; in fact there are several common places you are likely to be asked to submit for a credit report.

Get your Identity Check & Experian Credit Report Here!

Loans and the Like

Banks will base rather or not a person qualifies for a loan on their past financial performance. The lower the applicant’s credit, the higher the interest is likely to be – assuming they qualify at all. This includes personal loans, mortgage loans and car loans. Simply put, having a bad credit score could result in thousands of dollars of additional fees and charges over the lifetime of the loan.

Credit card companies will also want to run credit before issuing a line of credit to a potential card holder. From their credit score, credit companies can determine how timely they can expect monthly payments or if the applicant is likely to default (be unable to pay) after running up a credit bill.

Potential Employers and Landlords

Credit scores are often correlated to a person’s responsibility and reliability. When applying for a job, most employers will request a credit check. This not only allows them confirm identity but to also scope out an applicant’s history. Low enough credit could ultimately disqualify applicants from certain positions inside of companies.

When signing a lease or contract in an attempt to rent a house or apartment, potential landlords will often want to run an applicant’s credit. Credit reports to a landlord could indicate if a possible tenant is likely to be steadfast in their property. If a consumer has a history of breaking leases or skipping out on contracts, they are more likely to do it again. Credit score can affect the size of the deposit required and the length of the lease offered.

Insurance Companies

Cars, homes, boat, renters – insurance is not only responsible but often required by law. When applying with an insurance company for any type of insurance, the company will likely want to check the customer’s credit. Credit to an insurance company will determine the premium set on the insurance. The lower the credit score, the higher the money paid to the premium. Even more, insurance companies will likely want to review credit score each time a policy is renewed. If the customer’s credit has improved since they last signed up for that company’s policy, the customer may see a drop in their premium.

Contracts for Products and Services

Most products that require a contract will have a credit aspect. The most obvious being cell phone companies. However, credit requests may also be made by the electric, internet and cable companies. With a good credit score, some companies will waive their deposits altogether.

No matter who is asking, it is ultimately the choice of the consumer to consent to a credit check. A company cannot run a credit score without the signature of the score’s holder. This being said, companies, businesses and similar institutions have the right to refuse services to customers who will not consent to the check or impart additional fees to people who with too low of a credit score.

Get your Identity Check & Experian Credit Report Here!


How to Become a Financial Advisor

If you’re interested in a career change, you’ve never had more options than you do today. The financial sector is always a good bet too, especially now that our economy is beginning to recover from the recession. One prominent and important job is that of a financial advisor. Keep reading to learn how you could become one.

What Financial Advisors Do

First, let’s go over the actual job description. Financial advisors have such an important job because it’s essential to everyone’s financial wellbeing, yet no one wants to do it for themselves. Financial advisors help you make sense of your money and handle it in ways that will guarantee you keep the bulk of it for as long as possible or at least spend it on things you really want.

As a financial advisor, you will regularly meet with your clients in person to help them invest, determine and stick to a budget, make retirement plans, save for their child’s college tuition, etc.

Interestingly, though most financial advisors start out working for larger companies, about 20% are self-employed. So if you’ve dreamt of owning a small business or at least being in charge of your own financial destiny, this is a great job for it.

Furthermore, many financial advisors find success by focusing on niche areas. So, for example, you might specialize in retirement plans, those for people with special needs, same sex couples or couples who just married.


If this sounds like the type of job for you, you’re probably wondering what it is you‘ll need in order to pursue this dream. You’ll absolutely need a bachelor’s degree, generally in finance, accounting or business. However, consider getting an advanced degree as well. Not only can it legitimately help your understanding of the business, it’s a great way to separate yourself from the pack.

It’s also wise to pursue and obtain a financial planner certification as this designation makes you a member of the Financial Planning Association.

There are other certifications to think about as well if you want to expand your business. For example, if you get a securities license, you can begin making investment fees by using your clients’ money to purchase stocks. If you get certified as an insurance broker, you can sell life insurance and other types.

Salary Expectations

Obviously, no matter how good the job sounds, the salary is a really breaking point for many people. In 2012, the median salary in America for financial advisors was a little over $67,500. However, there was a good degree of variability involved. The lowest earning financial advisor made just above $32,000, so there’s some real extremes involved. On the other end of that spectrum, though, the highest salary was close to $187,200.

It’s also important to realize that many financial advisors make substantial amounts of their income from bonuses. This applies to those who work for a large company. Though, the more services you can offer, (i.e. insurance, brokering, etc.), the more options you have to bring in money.

Is It For You?

Just because the above sounds enticing, doesn’t necessarily mean becoming a financial advisor is right for you. It takes a rare personality type that both loves numbers, analysis and organization as well as having the skills to talk to people and explain their finances in ways they can understand and benefit from.

Of course, depending on the certifications you get, you might have a lot more to talk about too. But this will also mean longer amounts of time you need to work in order to pay off any fees or costs involved in school or certification.




What is the Income of the Financial Advisers?

What is the need of the financial advisers?

The financial advisers have their hands brushed on the different financials plans that people usually feel make. They provide the best suited plan and guidelines from where people can get the best of the returns from the investment they make in the terms of the tax saving, retirement saving, college saving, stocks, mutual funds or bonds.

People are nowadays very much into investing their capital and the assets they have to get back an efficient return. The question with How Much Do Financial Advisors Make can be answered giving a close view on the figures that are being provided by the Bureau of Labour Statistics.

How Much Do Financial Advisors MakeIncome of the advisers

The Bureau of Labour Statistics has readily calculated the annual and the average income of the financial advisers. It has also anticipated with the statistics of how much money the financial advisers in the top and the bottom of a chart can make. The figure shows that annually the average salary of a financial adviser can stick to around $90,820. As the Bureau has also calculated the 10% income of the top rated financial advisers. The result announces around $111,450. The bottom 10% of the financial advisers works get stuck due to the location of their work and thee type of their employers. This list has their income around $32,280.

One may get a hint that though this profession too has the best and the worst of its list but one can never get over this profession. The anticipation of the Bureau of Labour Statistics as has shown that the sharp increase of this profession being chose by various people has actually also affected the economic structure of the country. The more a countries economy gets investment the more it has the chance to flourish. The financial advisers take an active part in it.

The financial advisers’ salaries according to the Bureau of Labour Statistics vary according to the type of the employers and the location they function from. The Bureau of Labour Statistics report the top 10 financial advisers’ income usually remains within $111,450 whereas the bottom list that consists of the 10% of the financial adviser incomes around $32,280. The average salary calculated annually considers a financial adviser’s income to be $90,820.

The financial advisers are the planners who allow you to do wise investments that depends on long term and reliability. These financial advisers usually work according to the commission they earn from the number of the assets they manage for the employers that gain highest return of investment.

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