The biggest credit news this week is all about life’s little surprises that could have major implications on your finances and your credit.
Sometimes all the financial planning in the world can’t help you deal with the things life throws you. In this piece from The Billfold, new mom Tracy Moore explains how she went from finding out she was pregnant to actually preparing to be a parent.
When Tracy discovered she was pregnant, she and her husband had $90 combined, and through budgeting and cutting back on eating out, drinking and smoking, the couple was able to save $700 a month to prepare for the deadline that was quickly approaching — their baby’s due date. It’s a fascinating story of how to budget when a big expense is not far off, and how to work together as a couple on your finances.
A baby may be a much larger expense than a dog, but puppies can get pretty expensive, depending on what they destroy.
In this piece, Credit.com reporter Christine DiGangi outlines the items that her new puppy Marvin has chewed or otherwise ruined in her house. Marvin, adorable as he is, has quite the appetite for things like shoes, dog beds, home decor items and even carpeting, leading to some hefty bills. While you can’t necessarily plan ahead for these expenses, it’s important to understand that dog ownership comes with its own surprising costs you should expect and know how to pay for.
Many of us have gone through that phase when you decide to change your name, either by shortening a long first name or abbreviating your first name and going for your middle name as your primary moniker. While that may seem fun and cool, a personal rebranding if you may, it can put you at a higher risk for something called “mixed files” in the credit industry.
A mixed file occurs when the credit history of another consumer with similar personal identifying information becomes mixed with another consumer’s file. The best way to prevent this from happening to you is to pull copies of your credit reports regularly (you can do this for free annually) and to monitor your credit for free using a tool like the Credit Report Card.