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Class rank and GPA’s were once the ticket to graduation and a successful career. But times have changed! Your credit image is now an important key to your future. You may be a student in your 20′s or someone with significant life experience who has returned to school. Either way, you are never too young or too old to establish a strong credit image. In the past, credit was extended based on personal knowledge of you and your reputation. Not anymore! Today, your personal reputation has been replaced by a credit report/score.Your credit image is a snapshot (like a photograph) of your credit worthiness at a fixed moment in time. This credit image is how you look to others who are making decisions about you. It determines what interest rates you are offered, and affects many other decisions made by credit card companies, lenders, landlords, employers, insurance brokers, utility and cell phone companies. Your credit image can also impact private student loans. Establishing and building credit in today’s current economy isn’t easy and can be very confusing without understanding where to begin.How Credit Scores WorkThe most important contribution to your credit image is your credit score. Understanding what makes up the score will give you an edge on how to manage your credit image and make good credit decisions along the way.To date, the most widely used credit score is a FICO score (designed by Fair Isaac Corporation). This score ranges from 300-850, broken down as follows:35% – Payment History: Making payments on time is the most critical part of building a credit score. Delinquent payments can stay on your credit report up to seven years. They can cost you higher interest rates, over-the-limit charges and late payment penalties – not a good use of your money.30% – Amounts Owed: When possible, keep balances to 30% or less of available credit. This is called your balance to limit ratio. You may spend more, but always keep your balance carried each month under 30% of your credit limit. Make more than the minimum payment to help build a strong score and credit image.
15% – Length of Credit History: Considers how long you have had loans or credit cards. This may be one of your weakest areas if you have just started establishing or re-establishing your credit.10% – New Credit: A reasonable amount of new accounts established over time will help increase your score. However, too many new accounts in a short season of time can raise concern. For example, you’ll want to seriously consider whether applying for three new department store cards will serve your longer term goals. Too many “hard inquiries” required to grant credit can lower your score for up to two years.10% – Types of Credit Used: Diversity of account types shows lenders and others viewing your credit image that you can manage different types of credit. The scoring model looks for credit cards, revolving credit such as department store cards, installment credit such as auto loans, and mortgages.Where to BeginFirst, pull your free credit reports. When you see “free” credit scores, beware there is a catch. Many times they request your credit card or banking information for the “free” trial or to take their surveys which could be profiling you for other services. You normally pay a fee to retrieve a credit score, although individual credit reports are free. Go to annualcreditreport.com and request all three credit reports – one from each of the major credit reporting agencies: Experian, Equifax and TransUnion. In California, credit reports are offered free of charge once annually. (Some states offer free credit reports more often than once a year).You may have never applied for credit before; yet, if you have held a job you will have a credit report even if it only shows your personal information (name, birth date, social security number, current address and employer). It’s possible there are reported inaccuracies. Scarier yet, someone may have used (or attempt to use) your personal information and identity for their personal credit use. Review all three reports very carefully. Immediately address all inconsistencies or inaccuracies with the credit reporting agency, disputing all incorrect information.What NextGoals and Objectives: Determine your goals and objectives. Do you need to establish credit or possibly re-establish it (short-term goal)? Are you considering a major financial purchase like a house or car, or landing your dream job after graduation (long-term goal)?Banking: Open a checking and savings account with a banking institution. When deciding on a bank you may want to seriously consider a credit union. They typically offer lower interest rates on credit cards, car loans and mortgage loans when you are ready to establish credit lines.Installment Payments: A good way to help you build credit payment history is making timely installment payments like a car loan. At first you may not qualify on your own to finance a car; yet, if a parent is purchasing a new or used car for you, discuss the possibility of placing your name on the auto loan as a co-signer. That way you will both get credit for making payments on the loan.Credit Cards: After establishing a banking relationship for six months or more, consider applying for a bank credit card. If you don’t qualify for your own credit card, a parent or someone who has good credit might consider adding you as an authorized or joint user to their existing credit card. An authorized user doesn’t always have the history from a credit line reported to their credit reports but a joint user (who assumes joint liability for the debt) does. A secured credit card is another alternative. Normally these types of cards have different requirements such as a deposit of $300 to $500. Before applying for a secured card, check the fees to see if they are fair and reasonable. Do they report your credit card activity to the credit reporting agencies? After a year or two will they allow you to convert to a regular credit card? Will you receive your deposit back?Beware of the credit card companies that target students at universities. Be wise – read the fine print and ask yourself first, why you are applying or accepting the credit card being solicited. Do not be swayed by the free item they are giving away if the terms and conditions are not reasonable. Once you have been accepted, be mindful to live within your means. It can be very tempting to spend now and pay later but “later” can be a very long time, impacting your life for many years.Other Things to ConsiderEstablishing your credit image is not just a one time effort. Continued vigilance and maintenance pays off. In this competitive economy, be aware of other areas of concern that may impact your credit image.Digital Dirt: There is a rise in employers who “Google” prospective job candidates. They are possibly using this as an inexpensive way to do a background search on you. This type of search is not covered under the Fair Credit Reporting Act (FCRA). This law only protects you if an employer uses a third-party screening company to conduct a background search. The prospective employer may search to find if you are connected to any social networks like Facebook, MySpace, Twitter, and/or have your own website or blog. Be careful what you publish on the internet and mindful of the impression it creates. Once in cyberspace, information can exist forever and go before you and your next job interview.Student Loans: As you wind down your education, keep these things in mind that will affect your credit score. Six months after graduation (or you are no longer in school full time) your loans become due. Unless you are in a position to pay the monthly payment, know how the terms of your loan work. You may want to consider deferring the loans for a short period of time by continuing your education past the date of graduation or applying for some other type of deferment long enough to get your living expenses and wages in order. Remember that 30% of your credit score is based on your balance to limit ratios and this includes student loans being reported to the credit bureaus. By making regular, timely payments, your loans will continue to build your credit image.Employment: More and more employers are using credit checks as part of their employee screening process. “People are being turned down for jobs on the basis of things that really have nothing to do with qualifications.”* While we are concerned about the inappropriate use of credit reports and scores, this is a growing reality that students must take into consideration when planning a job search.ConclusionOnce you have established your credit image, regular maintenance is critical. Review your credit reports at a minimum yearly, pay your bills on time, monitor your student loans and use credit wisely. A strong credit image will go before you to pave the way for your future success.*New York Times, August 7, 2009 http://www.nytimes.com/2009/08/07/business/07credit.html

What are some ways a person can generate passive investment income? There are a number of ideas about it. Everyone has his own ideas about which one can be a passive investment income. We should have our own choice of investment. The wealthy, the marginalized, and the middle class people differ in their own preferences about investing their money. Now, let’s compare ways and opportunities according to some considerations such as safety, profitability, and also liquidity.Safety means that your investment and the income are stable. The money that you invest could be prone to the changing market condition, economic slowdown, and social unrest. The point is that your passive investment income should always be there. In that case, it is safe to invest.On the other hand, profitability is what we usually consider when we invest. We are supposed to believe that what is profitable is ideal. That’s right. But is it risky? Is my money stuck? Obviously, everyone would go for whatever gives them profit. Whenever we consider gains, the highest amount is always the best passive investment income. What we should consider here should not have been about the top gainers only. It’s should also be the safer ones.Another significant factor that must be considered is liquidity. Let us suppose that we earn very attractively from our safe investment. What does that mean to us anyway? When you are ready to use your fund because you really need it and that’s the reason why you invested, is it possible to convert it to cash now? If there is no liquidity, our passive investment income is only an imagination. You would become wealthy only in your dreams. Liquidity is not only about the comfort of making a withdrawal. It is also about how smooth it is to invest.Now, here are three kinds of investment we may consider whether which passive investment income is better for us. So, let’s talk about three kinds of portfolios such as business, stocks, and real estate.Business is a personal activity that deals with economic factors that determines future gains. It is the chemistry of work and investment. This means that a businessman does not only wait for passive income, he should also work for it. Therefore, it is an active income and at the same time passive.In the aspect of safety, business is not that safe. It is exposed to economic cycle. Businesses are under the supply and demand law. If the demand for their goods has been increasing, the price will also increase, and so will the supply. As time goes by, the demand will influence the supply to increase more. So if the supply is much greater, it will then influence the price to decrease. Consequently, businesses are getting more unstable and their future is turning gray. But, businesses may also get more resilient. As this type of investment is a little active, the active control of a businessman can manage a worse situation. Therefore, these two characters of investment regulate the cycle. Because of this, business becomes good. It is definitely a good example of passive investment income when it comes to safety.In stock market, it’s the other way around. Safety is a very controversial issue here. Obviously, the risk involved here is very high. But the potential return is high, too. Passive investment income is more common in stock trading. Therefore, your income here is not the product of your active participation in the company. It is the product of your decision.In the area of real estate, the lesser amount you invest, the safer it is. The bigger the investment you have, the riskier it becomes. But land alone is considerably not risky. The reason why real estate becomes a little risky is because the cost of structural materials is getting higher. Structural materials are also subject to the law of supply and demand. So, if we only rely on land for passive investment income by renting it out, our passive income will not be affected by any price fluctuation. Aside from that, structures depreciate over a period of time. Therefore, investing in real estate can be risky or safe depending on the kind.In terms of profit, it is more attractive in business. In some businesses, you have to spend time before you earn regularly. Usually, the profit is negative especially if they are just beginning to operate. They should promote their brands and strengthen themselves in the market. When the consumers buy their goods, passive investment income begins. On the other hand, other businesses are doing well in the beginning of the operation. During the first stage, their sales shoot up. Subsequently, they grow very early. As time goes by, consumers get sick and tired of their goods. Consequently, these businesses reduce their passive income. Nevertheless, what is nice about business is the resilience to catch up with the competition. In business, the consistency of income is stable. One more advantage in business regarding this is the petty cash. Passive investment income in business need not come after a fixed cycle like that in stocks. There is always readily available petty cash.On one hand, profit potential in stock investing is definitely high. As the character of stocks is risky, risk appetite causes the value of stocks to go up quickly. On the other hand, risk aversion and profit taking in the intraday trading can cause the value of stocks to go down quickly, too. Risk management in the stock market depends on the traders. Speculators enjoy their passive investment income from the price volatility while non-aggressive traders and investors get their passive investment income from dividends. Therefore, we can’t rule out the risk nature of stocks. When we gauge the balance between the energy we exert and the profit we earn, investing in stocks could be the most attractive one. We must not forget that passive investment income is an income that we could get without extra effort. If stock market really offers this potential, it must be a better option for passive investment income.In real estate, how can we have a passive investment income? There is no doubt that one may enjoy his passive investment income in real estate without extra effort. The point is whether or not the ratio of profit is balanced with the investment. Surely, we can gain in real estate primarily because the usual investment is big as well. But always remember that you should pay the capital gains tax annually. This might explain why landlords do not solely rely on renting out their lots. Hence, land is usually developed to optimize the gains. Regarding the actual amount of gains, real estate could guarantee a better passive investment income. Therefore, we should really consider the ROI.In terms of liquidity, it is somewhat less in business. Of course, liquidity still exists. However, much time is spent to put up a business, to start gaining, and even the time it takes to stop operating. Although the period of time executing all these can be determined according to a business plan, the process is still slower depending on the kind of business. Retail businesses are quite liquid whereas manufacturing industries are not.Among the common types of investments known to many, investment in stocks is the most liquid one. You can open and close an investment account at your convenience. Moreover, you may select any available stock you wish to invest in. If you wish to have exposure in stock market, to take profit, or to pull out your investment, it won’t take that long. You may do so at any given time wherever you may be.On the contrary, liquidity is a big problem in real estate. In business, there are still ways to determine it, but hardly in real estate. Usually, it is like a game of chance to sell even a small house and lot. Thus, investing in real estate, earning passive income, and even pulling out your investment will never occur overnight. It won’t matter if it doesn’t affect productivity. For instance, you have found a better opportunity that needs quick decision. Then, you think it best to change your existing investment into such a new one. Perhaps, before you are able to pull out your investment from real estate, your commitment to others will have already been canceled. In similar case, you might get stuck.These are some ways a person can generate passive investment income. Whether you wish to invest in stocks, real estate, or business, you can always find an opportunity to generate passive investment income.

A successful corporate event will require the consideration of a number of factors. From the venue to the food and even the amount of guests to arrive; every aspect requires thorough planning in order to help the overall success of the evening. An often overlooked aspect of corporate events is the entertainment. With a wide range of event planning services at our disposal, it can be easy to allow an external company to run ahead with every aspect of our special event. However, this can often have disastrous results if our guests are not correctly catered for.When choosing entertainment for your corporate event, you need to ensure that your performer is not only suitable for your event, but that their presence will help to create a fun and happy atmosphere for all involved. In some respects, the entertainment can even be the one aspect that ‘makes’ the evening for some guests.There are a wide number of entertainers you can choose from for your event, such as magicians and live musical acts. However, over recent years, comedians have grown in popularity for corporate events as a more unique form of entertainment. Not only can a quality comedian provide the level of entertainment you require for your event, but they can help to make the event more memorable for your guests thanks to audience participation and additional aspects of their act such as singing and puppetry. What’s more, should you comedian be well chosen and a hit with the audience, it can also help to cement your reputation as the event planner.Depending on the purpose of your corporate event, the entertainment may be a crucial part of the night, meaning that it is essential that you hire a comedian who is not only available and within your budget, but also one who is appropriate for the intended audience and willing to cater for your needs. So, whether the occasion is informal or formal, there are a number of considerations you should make when choosing your entertainer.Being a corporate event, you will need to ensure that your chosen comedian is one who specializes in performing family-friendly comedy. Although there may be some guests who enjoy more extreme comedy, comedy does not need to be crude or offensive in order to be funny. To eliminate any offence caused to your guests, it is important that your comedian either specializes in suitable comedy, or is willing to devise a performance that caters for this requirement. Always arrange to see a preview of their performance before hiring them to be sure of this fact.The details of their performance are also important. Whereas some comedians perform simple stand-up comedy, many are renowned for combining a number of creative outlets such as singing and props in order to enhance their routine. By identifying what the likes and dislikes of the guests will be, you will be more able to decide which type of performance will suit your corporate event best.