Jennifer's Compass

Halloween financial check-up

Happy Halloween! Let’s multi-task while waiting for the next little ghost or goblin to ring the doorbell. It’s time for a quick financial check-up before year’s end.

Beyond FICO: The Hidden Details Behind Your Credit Scores

Do you know there are four different credit scores? Most people think when they go to www.AnnualCreditReport.com or any of the credit bureau sites and get their credit score, they’re getting their actual FICO score. The fact is, you’re probably not.

Helpful books

I'm often asked to suggest financial books. Well, here's my list. Books on investing, debt, women and money, kids and money, basic financial planning – they're all here.

Take a look and let me know what you think. Let me know if I've missed anything!

Pay down your debt

Credit card debt is growing. Credit counselors should be there to help, but they’re not. This story deserves more coverage!

Consumer credit agencies have immeasurable power over debtors because people think “non-profit” means they’re competent and not looking out just for themselves. Never mind the fraud aspect. The biggest problems I’ve seen with consumer credit agencies are: turning the “free” budget education meeting into a sales pitch for the debt management program (which generates a monthly fee); and really bad administrative follow-up. Some administrative follow-up is so bad that consumers’ debt problems are made worse by bungled payments and new late fees.

Paying down your debt is nothing less than taking back your power from the credit card companies! Don’t surrender this opportunity by handing over your power to credit counselors. Manage your debt repayment yourself: You’re more likely to stay out of debt and you’ll save on agency fees. What’s more, it won’t take any more administrative work than overseeing the bad credit counseling relationship.