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A good credit score can result in a lower home mortgage rate or a car buying rate. We all try to maintain one. Sometimes, though, life throws us a financial curveball and that score declines. What steps can we take to repair it?

Mistakes

Much is out there about the classic financial mistakes that plague startups, family businesses, corporations, and charities. Aside from these blunders, some classic financial missteps plague retirees.

Do you know how the Internal Revenue Service (IRS) contacts taxpayers to resolve a problem? The first step is almost always to send the taxpayer a letter through the U.S. Postal Service.

The cost of data breaches increases. The latest annual study from Javelin Strategy & Research, a leading financial analytics research firm, says that 14.4 million people were impacted by I.D. theft in 2018. Roughly 3.3 million of them had to shoulder a financial loss or an out-of-pocket cost due to these crimes.

Good credit may open doors. It is vital to securing a loan, a business loan, or buying a home. When you establish and maintain good credit in college, you create a financial profile for yourself that can influence lenders, landlords, and potential employers.

Financial generalizations are as old as time. Some have been around for decades, while others have only recently joined their ranks. Let’s examine a few.

A family legacy can have multiple aspects. It can include much more than heirlooms. It may also include guidance on what to do with the gifts that are given.

What are your “legacy” assets? Financially speaking, a legacy asset is something that may outlast you, something that might produce income or wealth for your descendants.

“Audit” is a word that can strike fear into the hearts of taxpayers.

However, the chances of an Internal Revenue Service audit aren’t that high. In 2017, the most recent statistics available, show the IRS audited 0.5% of all individual tax returns.¹

You’ve probably heard the saying that “cash is king,” and that truth applies whether you own a business or not. Most discussions of business and personal “financial planning” involve tomorrow’s goals, but those goals may not be realized without attention to cash flow, today.

As a consumer, when you purchase an expensive item, like a car or refrigerator, you expect to receive a warranty that the manufacturer will repair or replace that product if it breaks down.

A warranty makes sense for big-ticket purchases, but what about for a home?