Author Profile: Erika Torres

The 3 Ways We Improved Our Credit Score in Less Than 3 Months

Your credit score is one of your most important financial numbers. Your credit score demonstrates to lenders how trustworthy of a client you are and determines what loans you ultimately qualify for. So if you have a bad credit score, it could negatively affect your finances and cost you dearly by subjecting you to higher interest rates and even disqualifying…

5 Ways to Avoid Debt During the Holidays

Are you a Santa or a Scrooge when it comes to the holidays? If you’re like the average American, you spent around $780 on Christmas gifts last year. But with the majority of Americans having little to no savings at all, it’s a wonder as to how they plan to pay for this expensive holiday season. Before you go reaching…

3 Times It’s Okay to Splurge

When you’re focused on paying off debt, it can be hard to ever allow yourself to spend money on yourself. After all, spending money on yourself is what got you into trouble in the first place, right? But being so restrictive in your spending can lead to negative consequences, like splurging unnecessarily. Instead, spurge smart by having a plan and…

5 Money Mistakes that Can Hurt Your Marriage

Money is often cited as the number one reason for divorce. So it would make sense that most couples should get on the same financial page before walking down the aisle in order to (hopefully) ensure marital bliss. But just because we know a piece of knowledge doesn’t mean we actually take advantage of it. Take, for example, my husband…

5 Ways to Ensure Financial Security

A survey by the Pew Charitable Trusts this year revealed that nearly half of Americans don’t feel financially secure. One-third of American families have no savings, 57% said they’re not prepared for a financial emergency, and 55% of families barely break even with their finances every month or actually spend more than they earn. These are pretty dire circumstances for…

5 Ways I Made Extra Money to Pay Off Debt Faster

When you’re working to pay off debt, you’ll cut out most superfluous expenses in order to reach your goals. But the problem with cutting out spending is that there is only so much you can cut. What if you want to reach your financial goals faster? If you’re already working a full time job, and have cut all excess spending…

Why You Should Never Have Just One Savings Account

If you only have a checking account and a savings account, you’re doing yourself a huge disservice. Many people tend to stick to only one savings account out of habit. Perhaps you set it up eons ago and it’s just simple to keep one lump sum of cash hanging around. It’s not imperative that you have multiple savings account but this…

Three Times an Emergency Fund Saved Our Finances

Financial experts often tout the importance of an emergency fund. Many experts recommend that a true emergency fund should hold between six and nine months’ worth of living expenses in case of job loss. And even Dave Ramsey—the founder of Financial Peace University which encourages American couples everywhere to become “gazelle intense” when paying off debt—believes everyone should have at…

How to Get the Best Auto Loan with Little or No Credit

Expecting our first child this fall, my husband and I have started shopping for a new family car. Walking into the dealerships and test driving the cars has been an entirely different experience from ten years ago when I bought my first car with very little credit to my name. Now, I know we have solid credit scores and I…