How to Use Credit Karma to Build and Monitor Your Credit Reports

Your Credit report is a very important part of your financial life in the USA. I have written about this here. One of the services I recommended there is CreditKarma.com. It is a free service that lets you monitor your credit report every week.

Here’s a good explanation of how your credit score is built: https://www.creditkarma.com/credit-scores.

Here’s how to use credit Karma to build and monitor your credit report:

Sign up at CreditKarma.com

It’s easy to sign up at CreditKarma. You just need your email address and create a password to use. You will also need to provide your Social Security Number because that is the information they need to start building your credit reports and send it to you. The awesome thing is that this service is free!

If you decide to sign up with any of their recommended credit cards or personal loan providers, then they make some commission from your business.

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5 Ways to Check Your Credit Score for Free

America runs on credit. Most people use credit cards to buy the things they need and want. To apply for a credit card, a car loan, or any type of loan, for that matter, you will need a good credit score. The credit system in the USA is a well-developed, complex system.

Prior to moving to the USA, I had two credit cards with a combined credit limit of PhP 35,000. I don’t think there is a similar system of credit reporting in the Philippines.

Quick Disclaimer: The content of this post and this website is NOT financial advice but only provided for informational and educational purposes. Please do your due diligence in all matters related to your finances.

What is a credit score?

A credit score is an index, a three-digit number that potentially represents your ability to repay debts. Banks and other lenders consult your credit score to make a decision if they will let you open a credit card or a loan.

A lower credit score means that you are less likely to be able to pay debts. A higher credit score means that you are good at managing your credit and that you are a trustworthy borrower.

Three main credit bureaus in the US create credit reports: Experian, TransUnion, and Equifax. They use different systems of creating your credit report but it is usually based on several factors such as the number of accounts you have open, timely payments, and a few others.

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How to Save Money on Children’s Toys in the USA

Sometime in 2016, a friend stayed over at our home for an evening. He saw our son’s room and all the toys that he had there. This friend works as a Principal of an elementary school in the Philippines. He said: “Wow, your son’s room and toys look like a full play area for a kindergarten in the Philippines!”

We laughed at his statement at the time. It’s true, our son has a lot of toys. And the good thing is that we did not pay full price for those toys. In most cases, we got those toys at a bargain. If you also have a small child, here are some tips to save money on children’s toys in the USA.

Here are some of the toys we got from different sources and the corresponding price:

Train and Activity table: $40 Craigslist
Hot Wheels Playsets: $20 from Craigslist
Various robots and cars – got it from Goodwill thrift stores

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Going back to the 4-Hour Body, Slow Carb Diet

In late 2016, I discovered the 4-Hour Body, a book by Tim Ferriss where he recommends the “Slow Carb” diet. It is a variation of low carb diet. It has simple rules, easy to adhere to, and it delivers results.

Rules of the Slow Carb Diet from Tim’s blog:

Rule #1: Avoid “white” starchy carbohydrates (or those that can be white). This means all bread, pasta, rice, potatoes, and grains. If you have to ask, don’t eat it.

Rule #2: Eat the same few meals over and over again, especially for breakfast and lunch. You already do this; you’re just picking new default meals.

Rule #3: Don’t drink calories. Exception: 1-2 glasses of dry red wine per night is allowed.

Rule #4: Don’t eat fruit. (Fructose –> glycerol phosphate –> more bodyfat, more or less.) Avocado and tomatoes are excepted.

Rule #5: Take one day off per week and go nuts. I choose and recommend Saturday.

For a rice-loving Filipino, this diet could be tough because it means NO RICE except on the weekly cheat day!

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