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5 Things Every Commencement Speaker Should Say

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In Managing MoneyLendKey

Once again it’s college graduation season. Commencement speakers are being announced at a daily pace, many hailing from business and industry, government, health-care and entrepreneurial backgrounds. They all have a great deal to share in making memorable graduations for thousands of students each year. But as Adam Levin of Credit.com highlights in a new essay “5 Things Every Commencement Speaker Should Say”, speakers regularly fall back on famous quotes to carry the speech like Emerson’s “Hitch your wagon to a star” or the Dr. Seuss classic, “Be who you are and say what you feel, because those who mind don’t …

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How to Improve Your Credit Score Over Time

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In Managing MoneyLendKey

The Main Ways Your Credit Score Can Improve Over Time Your credit report is one of the defining numbers of your adult life. For instance, it is one of the key factors in determining your interest rate and loan terms when you try to refinance student loans. This means your credit score can potentially make hundreds of dollars difference to your monthly payments. The five main factors determining how your credit score is calculated include: Payment History Loan Balances Length of Credit History Types of Credit How Much New Credit You’ve Applied For While a credit score reflects credit payment …

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5 Savvy Tips for Negotiating a Raise

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In Managing MoneyLendKey

When entering into negotiations for a raise there are a few key factors to always keep in mind. Consider your timing If a coworker was just laid off or your company is actively surveying suppliers to save money, this is not the time to ask for more money. However, if you’ve just brought in a new client or there are record-breaking profits on an account you’re working on, you might make your request. At the same time, ignore the calendar. Being at the job exactly one year, or even three long years, doesn’t guarantee you have merited a raise. You …

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Clearing A Balance at The End of the Semester

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In Managing MoneyLendKey

Clearing up outstanding balances and getting registered for the next semester is important. However, final exams and papers often dominate attention during the end of semester, the same time new registration begins. Right now there is a major test or report due, but don’t let the stress get in the way of clearing registration for important classes, your timely graduation depends on it. Here are some tips for following through on school funding and billing issues. 1. Confirm that all your financial aid has paid: Make sure all your grants, scholarships and student loans are accounted for. It’s not abnormal …

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Millennials and Money — The Co-Signer’s Perspective

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In Managing MoneyLendKey

Cosigning a student loan is an increasingly necessary promise to support the successful future of the ones you love. According to the Consumer Financial Protection Bureau, over 90% of private student loans had a cosigner. The same bureau estimated that the combined total for outstanding student loan debt had already reached nearly $1.2 trillion, back in 2013. So how can you best help your millennial achieve their educational, career and life goals? Good Communication is Key Co-signing a loan creates serious financial commitments for the borrower and the co-signer. Since both parties are responsible for repayment on the debt, it …

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3 Common Financial Mistakes of Recent Graduates

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In Managing MoneyLendKey

Recent college graduates find they have transformed into full-fledged adults once they collect their diplomas. This is great in many ways, but some of the associated responsibilities have grads wishing for a return to the comforting halls of their educational institution. LendKey understands the post-grad money stress and wants to help. To begin, take a look at the following top three common financial mistakes recent graduates make. 1. The “Show Me the Money” Mentality After a college or university accepts a student, they typically follow up with a financial aid package. Scholarships and grants are good – that’s money students needn’t …

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The College Wallet: Debit, Credit, Cash and Digital

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In Managing MoneyLendKey

Convenience, fraud risk, security, and your credit score are just a few of the factors to consider when deciding which payment method is best for any given situation. Which is the best payment method for your college wallet? The answer to these questions, of course, is “It depends.” Debit cards With plastic card fraud as rampant as it is these days, it’s hard to recommend using debit cards at the point of sale (POS). The Target data breach shows that plastic cards with magnetic stripes are vulnerable to compromise. A debit card is tied directly to your bank account, and …

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Getting Out of Debt & Living Debt-Free

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In Managing MoneyLendKey

Here at LendKey, we talk a lot about how to take control of your finances and get out of debt so you can enjoy a bright and secure future. However, we have noticed that many graduates don’t really understand how dramatically their lives will change as a result of being debt-free. You see, for many graduates, debt is a fact of life. They acknowledge that money put towards their student loans and credit cards each month prevents them from traveling, dining out, saving, and shopping as much as they’d like – but it’s also something they’ve learned to deal with. …

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Rule of 72: What Every College Student Needs to Learn

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In Managing MoneyLendKey

Getting a handle on personal finances always feels more complicated than it really is, especially for college students. That’s because many students get intimidated by a subject that they are not familiar with. However, when it comes to money what you don’t know CAN hurt you. College is great because it exposes students to a wide variety of subjects and materials, but after graduation many students forget much of the details as they progress into their life. This sets poor learning precedence, as there are certain subjects that teach lessons worthy of a lifetime. Learning about how money works is …

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Saving For Your First Down Payment

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In Managing MoneyLendKey

Buying your first home is a terrific investment that will build your wealth over time. But before you dive head first into real estate, it’s important to be aware of the complexities and costs associated with this process, so you’re not caught off-guard. While the majority of your home will be paid for with a mortgage loan, you’ll also need to save a substantial sum of money for your down payment – a one-time cash payment that you’ll provide at closing. Mortgage lenders require buyers to make down payments because they offer an incentive to keep your home out of …

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Calculate Your New Year’s Budget

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In Managing MoneyLendKey

Happy New Year! Now that 2016 is officially in full swing, it’s time to talk about the most important resolution you’ll ever make: to get your finances in the best shape possible in the coming year. Even if you fail to keep any of your other resolutions, it’s critical that you keep this one – because strong financial health is one thing that will continue to benefit you for years to come. Here’s how to get started: 1. Collect all of your expenses. Gather all of your credit card statements and monthly bills to get an idea of where your …

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Student Loans: 4 Considerations Before Getting Married

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In Managing MoneyLendKey

Jumping from single life into marriage is a big change: you combine everything with your spouse, from music collections to money. Adding student loans to the mix inevitably makes things more complicated. If you’re getting ready to get married — or are simply thinking about future possibilities — here are four things to consider about marrying someone with student loan debt. 1. How Much Debt You’re Bringing to the Table Long before you consider sharing the rest of your life, it is essential to talk about your student loan debt. If you haven’t yet, but are thinking about getting married …