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Category Archives: Mince no Money

How a good credit score can save you thousands

How a good credit score can save you thousands

Your credit score is the most important aspect of your financial life. Without a good credit score, you won’t be able to get any loan or even opt for a decent job. Sounds freaky..isn’t it? Yes, your employer may also check your credit score while appointing you for his/her company.

So, basically, having a good credit score is essential for everyone.

Many of us didn’t know having a good credit score can actually save your thousands of dollars. How? Check out the below-given benefits to get the idea:

a. Lower interest rates on credit cards

One way a good credit score can save a lot of money from your wallet is on credit card interest. A good credit score may help you to get lucrative rates on popular credit cards, which will save a good amount every month on interest if you carry a balance. It is best to pay off your entire balance every month if you want to avoid incurring credit card debts.

This strategy is very helpful to avoid costly interest fees, and also helps to improve your credit scores.

b. Pay less on your mortgage

Good credit scores can help you to save money on your mortgage costs. If you have a good credit score, your mortgage lender may offer you a lower down payment and lower interest rate. For most of the homebuyers, the savings in mortgage interest fees is one of the biggest benefits that a good credit score can give them.

c. Payless insurance premiums

Your credit scores can help you to lower your insurance premium on an auto or homeowner’s policy. In many states, insurers prefer those credit-based insurance scores that can assess the risk of filing claims on your policy. If you have a good credit score, your positive credit activities such as on-time payment may help to get a higher credit-based insurance score. So, technically it’ll lower your insurance premium rates. Negative credit activity, such as a high amount of debt, can badly affect your credit-based insurance score and your insurance premiums can be higher.

d. Good interest rates while taking out student loans

Borrowers, especially students may save as much as $19,000 over the course of their loans by refinancing their federal student loans through private student loans. Normally, if you have a good credit score, private lenders may allow you lower interest rates on student loans. Consumers or students with good income and good credit score may refinance their student loans to lower interest rates. But they must have an excellent credit score to get the best offers with student loan refinancing.

e. Other credit card benefits

The option for savings isn’t always available in form of low monthly payments. Having a good credit score may have lots of other rewards and bonuses. Having a good credit score may give you benefits such as cash back on shopping, or airline miles while traveling if you use a credit card for making the payments. With higher credit scores, you may become eligible for higher bonuses and offers. These rewards and perks may save you hundreds or even thousands of dollars when you are going on a vacation.

So, what are you waiting for? Try as best as you can to build your credit score and refrain yourself from the activities that may harm your score. Good luck.

The naked truth of today's education: Debt and depression!

The Naked Truth of Today’s Education: Debt and Depression!

Imparting education and knowledge is probably the most respected objective of our human civilization. This is where we humans tend to be different from other animals.

Our scope of ‘knowledge’, ‘education’ and ‘understanding’ is probably the widest when compared to other animals, species, or objects in this world! We know how to pass down knowledge from one generation to the other, in its exact sense!

But as time progresses, we seem to be losing the real meaning of education, and we have started to take everything for granted!

Why am i saying this you might ask, when nearly every single child can afford education these days!



Education according to the most ethical definition is understanding and knowing this world! How this world functions, and what is our purpose on Earth!


But, dices are now rolled on some other side, and education has become a monetary base, where teachers are no more educators, and all that most of the students understand, is they need a job and a good salary to survive!


Wonder, how many of them know, why they are born, and why they should survive!

In this blog post we will cover two biggest impact of modern education on this society and the students in general.
These are student loan debt and depression!


The current student loan debt scenario:


Real education is definitely costly. If a student aims to teach himself about the world on his own, then it is very expensive and time taking! Here by expensive I not only mean in terms of money.
One cannot easily make life the sole tutor and sail on the sea of knowledge!

If you become a student of life, then philosophically speaking, you will be walking down a tough road!

And, i can’t explain it to you, what roads you will take up on your quest of knowledge!


That’s the reason why our society has put up well functioning schools and universities to give people education at an affordable cost! The first such well known school was of Plato’s in Athens, known as ‘The Academy’!

But we humans have changed the meaning over time, and currently our education system is run by monarch sophists, who only understand money!


The present student loan debt in USA stands at a hefty $1.53 trillion as of second quarter of 2018.

I mean seriously??

Wonderful, how we have reduced the cost of education!!

This huge amount of debt is making the parents fall financially sick! They are getting burdened due to their children’s debts!

Families are getting destroyed because of this huge indebtedness. And, guess what, student loans are probably the toughest form of debt to escape!

A mortgage, you can give back your house as a collateral. Same with an auto loan! But student loans? No way man, they have no collaterals attached!

Either you can go for loan forgiveness, or run behind consolidation companies, if you are unable to pay off your student loan debt!

Whatever, it’s time when we must believe, that schools and universities should realize the fact, that they are charging huge amounts of money in the name of education! And they must stop doing so for a better upliftment of education in the society!


Depression rate among students are increasing:


What is childhood made up of? I can’t think or rather don’t want to think of anything except happiness!


But by going to schools, that’s the only thing students are not getting! They are pressurized to become ants, carrying the burden of forced knowledge, to finally become intelligent morons.


They start to believe that grades are the only thing that matters, and degree is the only thing that they must hold onto! Nobody teaches them about how to be loyal to their parents, or that we humans are also vulnerable like any other object, or no one except the almighty (if you believe in it), can save us when death calls!


So ultimately they come out as lemonade corked in a wine bottle!


But in the middle of it all, students are getting depressed due to the modern education system! They feel like they are tempted to compete among their peer groups for grades! What if they don’t score good in exams? What if they can’t get into a world class college??


Their lives have become full of ‘what ifs’, and what do we have as the end result? Family chaos, students committing suicide, parents bashing kids,… and so on!


I have very well accepted the fact, that everything’s happening because it’s meant to happen! And, that time is God!

But ultimately, can’t we just not teach our children about life and ethics, instead of making them envious of someone else’s happiness?


We are humans, and it is our duty to make our kids understand what real human smells like! Even a bison can fight, and a lion can kill, but it is only human who understands consequences!

Commodities you own too many of – Things that can eat your savings – part 2

Hey Guyz..this is the continuation of the last post. Let’s check on some more of those things which we can cut off from our budget and save some bucks..yeah!


Makeup kits – If you are a lady, your makeup, especially lipsticks, mascaras, liners and many other make up utilities will cost thousands. I have seen most of the ladies always toss their make up things after using, here and there. anything you haven’t worn in the past year, you can gather in one bag and sell them or you can reuse them through the help of a professional makeup artist.

Books – Books are one of the most important part of our daily life. Many people doesn’t love to read, but fortunately, that number is decreasing day by day. Other part on the people thinks that books are specially made for decoration purpose. But either way, if you are not using them, you can utilize your collection and donate as many books as you can to the local library, a orphanage, or gift books to friends and relatives.

Bathing stuff, frilly soaps and scented candles – If you have these items, don’t use them to fill up your closet. You might be saving them for a special day. It is ok, but what you can do in the meantime is to keep them along with your clothes in the same closet. Your clothes will be scented without any hassle.

Vases – Use old vases for different purpose. You can use them for growing trees, use them as show-pieces. Recycle them by giving a personal touch, paints, ribbons and give them as a gift to your loved ones.

Closet hangers – Hangers always jumbled up with each other and looks messy. So, better not to buy so many of them. Use uniform slim hangers which will save space and looks neat, keeps your clothes longer. Clear your closet from stuffed wire hangers and contact the cleaners who will accept your old hangers.


Commodities you own too many of – Things that can eat your savings – part 1

Hey Guyz, Today I am gonna discuss about some common things which we normally have in our possession, some personal things may be. These are day-to-day commodities which we need practically everyday. But we usually gather multiples of them without any proper reason, so few of these turns into too many of them. Let’s check on some of those which we can cut off to save some bucks..yeah!

Bed Sheets – If you have more than two kids and you need to change bed sheets daily, then you really require more than two or three sets of sheets for your each bed. But if you have a grown child then you don’t need ¾ pairs of bed sheets, 1 or 2 sets will be more than enough for you. So, stop buying extra pair of sheets. Keep looking for quality instead of quantity, consider comfort rather than luxury. You can also have some bucks in your pocket if you sell your old sheets to a garage or backyard sale. You can also donate old pairs to dog shelters.

Transparent glasses – You’ll prefer Wine glasses, specially for drinking juice or soda, martini glasses for party…right? But seriously, do you really require different glasses for different purpose? Some people will disagree, but if you also go for the trend, it will fill your cupboards but simultaneously empty your wallet. Many of us normally use same glasses for drinking different beverages.

Handy towels – Similar as bed sheets, the towels. Is it necessary to change new towel in every week or month? Or much worse, after every bath or shower? Many people use different towel for different purpose. Like – a hair towel, a bath towel, a hand towel etc. Don’t change it so frequently, if you really want to change it, donate old towels to some place else like an animal shelter or something. Put aside big ones to use it on the beach or while having a tan beside the pool. Make space in your closet by buying less number of handy towels, increase using old ones more often.

Cleaning/Grooming Products – Specially for ladies, whether it’s face products, hair products, nail products, hair baubles or anything else, we are all a bit choosy. We normally always try to gather the best with great prices. But now it is time to eliminate that habit. Modify your routine, whether it’s a bath product or a cleaning product, cut out things you don’t use. Try to use low budget commodities, like medicated products and local made cleaners, stop going for the brand. It will save a lot from your budget.


To be continued…


Beware young parents – Avoid 5 greatest financial mistakes

One of the toughest job you have to perform as a parent is to raising a young child. This job will involve most of the time in your daily routine. There is so much you have to do in very short time that you might have ignore the financial life of your child. So, do not underestimate the importance of financial planning in your child’s life. Check out the below given mistakes which you should avoid being young parent.

  1. Living without an emergency fund – Did you saved enough money to carry out daily expenses and bills ? If not, set up a financial goal and open a savings account to gather emergency funds. Try to deposit minimum of $50 every month. There is a chance of sudden job loss, for both the parents. So, it is advised to save for total expenses for 3 months to 6 months at least. It will buy you enough time to find a new job. It would also help you in the time of crisis like an unexpected home repair or a medical issue.
  1. Not preparing for the retirement – Most or the parents save money for their kid’s college expenses, but they always ignore the retirement. Do the opposite. If any problem arises, you can opt for a student loan, but you can not borrow money for your retirement days. You must allocate funds from each month’s income for your future days. Choose a 401(k) account if possible. Another option is a Roth IRA or a traditional IRA.
  1. Not opening a savings account for your child – Open a savings account for your son or daughter. Give him or her a certain amount per month and ask them to deposit that amount into their personal account. By this way you can teach them saving habits which will encourage them to save for future. You can also put a certain amount in a 529 college-savings plan. The fund will be tax-free if it is only used for college expenses.
  1. Ignoring eligible tax savings – You might be aware of the personal exemption of tax by $3,950 per child, but somehow you missed the opportunity. These deduction will include the child tax credit up to $1,000 (it will be based on your income), child- and dependent-care (coverage given up to 35% of the cost of daycare and day camp), tax credit for adoption (up to $13,190) and tuition fee for special-needy students.
  2. Not having a health-care “flexible spending account” (FSA) – Most of the big companies allow you to separate some pretax dollars, which you can use to met out-of-pocket medical expenses. For now, this opportunity is given only to 1 in 5 employees. Gather up all your documents like prescription, bills, doctor and dental expenses from the last 12 months, and allocate that amount for enrollment. This step will save your health and medical costs by 20% to 50%.