ALL CREDIT COMPANIES ARE NOT CREATED EQUAL

With thousands of credit companies conducting business opposite the country, anticipating the correct a mat be tough and intimidating but it is needed that you take the time compulsory to not usually find a creditable a but moreover find a that has the knowledge, experience and skill to  give the turn of service you design and the optimal results you deserve. Your preference should not be impulsive. Choosing a bad credit repair firm will leave you exposed and increase the luck that serve damage will be caused to your personal credit record but on the other hand, selecting a great credit restoration   firm like Banco Capital Corporation has the prospective to be one of the most appropriate  financial decisions of your life by dramatically cleaning up your personal credit record and enhancing your credit score.

CREDIT RESTORATION TIPS!: Why Don't My Credit Reports Match

CREDIT RESTORATION TIPS!: Why Don't My Credit Reports Match: If you’ve reviewed your credit report from more than one bureau before, you may have noticed some variation from one bureau to the next. Wo...

CREDIT RESTORATION TIPS!: How to Get Out of Debt: A Step-by-Step Guide to Fi...

CREDIT RESTORATION TIPS!: How to Get Out of Debt: A Step-by-Step Guide to Fi...: To get out of debt, you need a plan, and you need to execute that plan. But that can be easier said than done. It’s easy to become overwh...

Why Don't My Credit Reports Match

If you’ve reviewed your credit report from more than one bureau before, you may have noticed some variation from one bureau to the next. Wondering why this happens? Read on to find a few possible reasons and some suggestions on what you can do next.

You got your report on different dates. 

This one is so simple it might seem obvious, but it's worth keeping in mind nonetheless. For example, if you checked out your TransUnion report last week and a different bureau today, the information might not match. This could be because one of your lenders has recently reported new information. Before you get too wrapped up in any minor differences between the two reports, ensure that both sets of information are from the same day so you're comparing apples to apples.

Your lender hasn't reported to each bureau. 

Lenders aren't typically required to report your information to any particular bureau or any bureaus at all, even. If one of your accounts has appeared on one bureau's report but has yet to appear on another, it could be because that lender simply doesn't report to every bureau. Similarly, if the account is appearing but hasn't been updated on a particular bureau's report, it could be because your lender has chosen to stop reporting to that bureau. This variation also applies to hard credit inquiries. If a prospective lender checks your credit with only one bureau, then the resulting hard inquiry will only appear on that bureau's credit reports. 

Your lender reports to different bureaus at different times. 

Even for lenders who report to each of the national credit bureaus regularly, information may vary depending on when they report to each bureau. For instance, your lender could report to TransUnion on the first of the month, and the other bureaus on the fifteenth of the month. If this is the case, then your reported loan balances could differ among those credit reports for the time between the reporting dates. Similarly, if you've recently opened an account, it may take longer for that account to appear on some bureau's credit reports than others. 

Your reports don't match for other reasons. 

There are all sorts of other reasons why your information might not match up. One possibility is bureau error, so if you're sure that your situation doesn't match any of the others on this page and the information reported looks incorrect, you could consider contacting the bureau directly. If you've applied for credit under multiple names (like your maiden and married names), for instance, then one bureau could have potentially split your file or simply left off some of your information if it doesn't match what they already have on file. Another variable that could keep certain information on your reports from matching is the manner in which credit bureaus collect information about public records. As opposed to credit cards and loans, which are typically reported directly by your lender to the credit bureaus, public records aren't actually reported to credit bureaus. Rather, credit bureaus will commonly search court records to find items like bankruptcies, judgments and tax liens. The result is that sometimes one bureau might access a public record that other bureaus have not, and you could potentially have, for example, a tax lien included on one bureau's credit report that is missing from others. 

So what can you do? 

If you've noticed a disparity from one bureau to the next, your next steps are up to you. As I mentioned earlier, lenders are not legally required to report your information to any particular bureau, so if your account is missing entirely, you can't force your lender to start reporting the missing information. Still, you can choose to give your lender a call and see if they'd consider reporting your account. If an account isn't absent but instead contains outdated data, then you may be in a better position to request an update from your lender and the credit bureau. Keep in mind that your lender may simply report to that particular bureau later than they do to others so allow time for your report to be appropriately updated, but if incorrect or outdated information persists you could dispute the record to prompt an update. 

Bottom Line 

Just like your credit score, your credit reports can differ from bureau to bureau. By checking your credit reports from multiple bureaus at once, you can get a better sense of the complete range of information that's out there about you, and get a handle on any errors that you might want to address.

What is a Security Freeze?

If you think your personal information has been compromised or if you would prefer an extra layer of protection on your credit, a security freeze might just be what you’re looking for.

Placing a security freeze or credit freeze on your credit file is an action you can take to restrict access to your credit report. Activating one prevents prospective creditors from pulling your credit report. Most creditors will not extend credit if they cannot access your credit report, so security freezes can restrict any new credit from being issued in your name, such as the opening of a new credit card account or new loan. Security freezes can be a valuable tool for victims of identity theft or those who are not actively seeking credit. Let's review the ins and outs of a security freeze.

Security Freezes

Activate/Deactivate

To activate and deactivate security freezes on your primary credit reports, you'll need to contact each of the three major credit bureaus separately (TransUnion, Equifax and Experian). Each credit bureau has specific instructions for how to activate or deactivate a security freeze, which may also vary by state. For example, you may need to choose or be given a password/PIN when you set up the freeze and if so, you'll likely be asked for it to lift the freeze if you want to do so.

Time and Cost

Keep in mind that putting a security freeze in place and lifting it (even temporarily) often cost fees, though many states require credit bureaus to provide free security freezes for victims of identity theft. Make sure to check the rates or eligibility requirements for free security freezes at each credit bureau. Lifting a security freeze can also take time so make sure that if you need to grant someone access to your credit file, you allow enough time for the bureaus to process your request.

Now let's discuss what activating a security freeze doesn't accomplish.

What Security Freezes Don't Do

There are a few things that security freezes don't do. They don't:

• Affect your credit score
• Prevent all entities from pulling your credit report. A limited number of entities, like certain government agencies or your current creditors or collection agencies acting on their behalf, may continue to access your credit report.
• Stop you from gaining access to your free annual credit report from each credit bureau
• Stop you from receiving prescreened credit card offers
• Prevent someone from using your existing credit lines without your permission. (If you think one of your current accounts is being or could be abused, make sure to contact the lender and bureaus immediately to determine what you should do next.)

Security freezes are one option to consider when managing access to your credit reports. Also, you may want to consider a fraud alert, which generally permits creditors to access your report but notifies them to take additional identity verification steps during the application process.

Fraud Alerts

Security freezes can be convenient because they can generally prevent unauthorized new credit from being issued. However, they can also restrict your ability to obtain new credit. If you'd prefer to not have such a high restriction on access to your credit report, then an alternative to a security freeze is to place a fraud alert on your file.

A fraud alert is similar to a security freeze, except that instead of freezing your credit, a fraud alert notifies lenders to take additional steps to verify your identification before they extend a credit line or loan in your name. A fraud alert is free and the major credit bureau you contact to place one is required to notify the other two major credit bureaus to also place an alert on your file. Like security freezes, fraud alerts won't affect your credit score, keep you from obtaining your credit report, or prevent access to existing accounts.

Bottom Line

If you're concerned about the safety of your credit, you may want to consider a security freeze or fraud alert. These tools can provide additional security on your credit profile, but they don't stop all credit-related actions. Make sure you have a complete understanding of each measure before deciding which option may be right for you.

Credit Checks & Inquiries

Will my FICO Scores drop if I apply for new credit?

If your FICO Scores change, they probably won't drop much. If you apply for several credit cards within a short period of time, multiple inquiries will appear on your report. Looking for new credit can equate with higher risk, but most Credit Scoresare not affected by multiple inquiries from auto, mortgage or student loan lenders within a short period of time. Typically, these are treated as a single inquiry and will have little impact on your credit scores.

The Basics

What is an "inquiry"?

When you apply for credit, you authorize those lenders to ask or "inquire" for a copy of your credit report from a credit bureau. When you later check your Credit Report, you may notice that their credit inquiries are listed. You may also see listed there inquiries by businesses that you don't know. But the only inquiries that count toward your FICO Scores are the ones that result from your applications for new credit.

Does applying for credit affect my FICO Scores?

FICO's research shows that opening several credit accounts in a short period of time represents greater credit risk. When the information on your credit report indicates that you have been applying for multiple new credit lines in a short period of time (as opposed to rate shopping for a single loan, which is handled differently as discussed below), your FICO Scores can be lower as a result.

How much will credit inquiries affect my score?

The impact from applying for credit will vary from person to person based on their unique credit histories. In general, credit inquiries have a small impact on one's FICO Scores. For most people, one additional credit inquiry will take less than five points off their FICO Scores. For perspective, the full range for FICO Scores is 300-850. Inquiries can have a greater impact if you have few accounts or a short credit history. Large numbers of inquiries also mean greater risk. Statistically, people with six inquiries or more on their credit reports can be up to eight times more likely to declare bankruptcy than people with no inquiries on their reports. While inquiries often can play a part in assessing risk, they play a minor part. Much more important factors for your scores are how timely you pay your bills and your overall debt burden as indicated on your credit report.

Does the formula treat all credit inquiries the same?

No. Research has indicated that FICO Scores are more predictive when they treat loans that commonly involve rate-shopping, such as mortgage, auto and student loans, in a different way. For these types of loans, FICO Scores ignore inquiries made in the 30 days prior to scoring. So, if you find a loan within 30 days, the inquiries won't affect your scores while you're rate shopping. In addition, FICO Scores look on your credit report for rate-shopping inquiries older than 30 days. If your FICO Scores find some, your scores will consider inquiries that fall in a typical shopping period as just one inquiry. For FICO Scores calculated from older versions of the scoring formula, this shopping period is any 14 day span. For FICO Scores calculated from the newest versions of the scoring formula, this shopping period is any 45 day span. Each lender chooses which version of the FICO scoring formula it wants the credit reporting agency to use to calculate your FICO Scores.

What to know about "rate shopping."

Looking for a mortgage, auto or student loan may cause multiple lenders to request your credit report, even though you are only looking for one loan. To compensate for this, FICO Scores ignore mortgage, auto, and student loan inquiries made in the 30 days prior to scoring. So, if you find a loan within 30 days, the inquiries won't affect your scores while you're rate shopping. In addition, FICO Scores look on your credit report for mortgage, auto, and student loan inquiries older than 30 days. If your FICO Scores find some, your scores will consider inquiries that fall in a typical shopping period as just one inquiry. For FICO Scores calculated from older versions of the scoring formula, this shopping period is any 14 day span. For FICO Scores calculated from the newest versions of the scoring formula, this shopping period is any 45 day span. Each lender chooses which version of the FICO scoring formula it wants the credit reporting agency to use to calculate your FICO Scores.

Improving your FICO Scores.

If you need a loan, do your rate shopping within a focused period of time, such as 30 days. FICO Scores distinguish between a search for a single loan and a search for many new credit lines, in part by the length of time over which inquiries occur. 

Generally, people with high FICO Scores consistently:

• Pay bills on time.
• Keep balances low on credit cards and other revolving credit products.
• Apply for and open new credit accounts only as needed.

Also, here are some good credit management practices that can help to raise your FICO Scores over time.

• Re-establish your credit history if you have had problems. Opening new accounts responsibly and paying them on time will raise your FICO Scores over the long term.
• Check your own credit reports regularly, before applying for new credit, to be sure they are accurate and up-to-date. As long as you order your credit reports through an organization authorized to provide credit reports to consumers, such as myFICO, your own inquiries will not affect your FICO Scores.

How to Go About Credit Restoration

Are you in need of credit repair help due to a very undesirable credit history? Are you longing for that long gone financial stability and freedom that you once had? If you want to restore your life, you must act now. Do you want to wait for eight to ten years for your bad credit history to disappear? Do you want to pay twice or three times the normal interest rate on any loan you apply for? If not, then it is time to get credit repair help.
But before you go to a firm that offers credit restoration services, you must first determine if the firm is a hundred percent legal bonded and registered as a Credit Services Organization. It also must not have any serious complaints and lawsuits. Once you have chosen the best company for credit repair help, you have to supply it with your credit reports from the credit bureaus such as TransUnion, Equifax and Experian. Doing so will result in better service and performance.

It is then up to the firm to remove the negative items permanently with the help of its innovative processes while following all the important laws, guidelines and regulations. The length of time it takes to process credit repair help is not guaranteed. However, the company can give the client an estimate average time. The usual time frame ranges from five to six months. And sometimes, just sometimes, some are completed from one to two months. 
Credit is becoming more and more popular every day. Eventually, time will come that before you can get anything you need and want, you must have a good credit history. Recently, people have been losing the jobs they had for a very long time for the single reason that they have a bad credit history. This is especially true for those who are government employees. For them, having bad credit is enough reason for possible termination.
With good credit, it is easier for one to apply for credit or a loan and to have lower interest rates. It is easier to get a job, a home and a car. You can also have the chance to apply for loans that do not require too much documentation of your income and assets. Therefore, it is truly advantageous to get credit repair help and have a good credit rating. Not everyone has a good credit record. However, repairing bad credit is actually far more necessary than you thought. Here's why you need credit repair help and how to get it.

3 Reasons For Credit Restoration

The credit bureaus are actually regulated by the government due to the nature of their internet business, but it's important to know they are private businesses. They are not legally or morally obligated to help report anything on any one. For example, most people are aware that most negative events remain on a credit report meant for seven years (ten quite a few years for Chapter 7 bankruptcies). This may not be a legal requirement. In actual fact, they could take many bankruptcies off all details tomorrow, if they thought i would. They are simply banned by law to report these events for a lot more than seven years (or ten). They're not forced to report them in any way.

Of course, it's his or her business. That's why they achieve it. But they have different options and when forced to verify the they report they will like to take negative events out of. Essentially, credit restoration doesn't terminate negative credit events. It does make them in result "invisible" to anyone reviewing a credit report and also this of course is reflected inside the credit score.
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Credit restoration is the act of rebuilding your credit ratings. There are millions of moat people that have been left in tricky financial times especially in the last few years. People all over the world will have good conditions and bad times financially, they may have hired without the intervention of debt settlement services, and their credit will obviously reflect that. There are many possible reasons that explain why someone may need to help rebuilt their credit they also will usually fall into probably 3 categories. In this informative article we will discuss just what exactly those 3 categories will be.

Bad choices

Credit restoration is an issue that is essential for anyone that wants to possess a good life if their credit may be impaired by failing to produce any loan payments or using a debt negotiation program services to be free from debt. A good life for some will involve wanting property and even a awesome car. In order to obtain these things you are likely going to need a loan from a bank and then the bad news is that they're going to be looking at your credit history. There are three varieties of circumstances where credit restoration work extremely well and each differs just a little in difficulty and cost you. The most common instance is the spot that the consumer has knowingly definitely not made his payments in time, defaulted on loans, a home loan, a credit card, or other categories of debts. Because the consumer's actions were the cause of the debts, the restoration process will take a large amount of time and effort.

Sometimes a consumer manages to lose his job unexpectedly due to illness, injury, or another reason where staying in touch monthly payments is difficult as well as impossible. Many people fall under this category. Some people who face family problems such as divorce for example also isn't able to pay when they're due or have been urged against it for 100 % legal reasons. Here, the damage is caused by circumstances outside the consumer's control. In instances along the lines of these, the restoration process will probably be a bit quite a bit easier.

Credit Repair Tips

There are numerous methods to credit repair and if you have bad credit report ratings after that you need to think about recovering your credit. When you take steps towards bad credit repair, you will enjoy a rise in your economic freedom.

Bad credit history could be destructive to your financial well being. You may have steady call to your natural from costs collectors and the struggle would appear difficult. You may make less money than you can monetarily manage to pay towards your regular monthly costs. This is called being "upside down in your expenses". It is feasible to obtain on the course toward credit repair also though it may seem impossible.

You could have bad credit report for several reasons. You could have health care costs, charge card costs, and several more costs that are extremely higher. No concern just what the reason is, when your credit rating scores are reduced it is viewed a number of methods. Your debt to income is evaluated. Financial institutions consider the amount of cash you OWE on your credit report versus the quantity of money that you MAKE. Also, if you have many debts that are little quantities overdue, this looks very bad too. Nonetheless, the biggest means a business considers your credit history score is that it shows you don't pay your expenses. This suggests you can not be trusted with paying back a payday loan or a credit. The much better your credit report score is after that the more a business will certainly credible you with paying back the financing.

When you have bad credit it is alongside near difficult to acquire a loan for anything. You won't have the ability to acquire charge card, buy a natural, a car, or obtain credit history for anything you could require. In most situations, if someone does extend you a line of credit after that your interest price is really higher. When you are offered a high rate of interest after that you are nearly paying double for the initial credit line.

When you make the decision to repair your credit rating with a 'repair work my credit toolkit' then you are taking the initial step to a much better economic scenario. You additionally have a much better passion rate on your line of credit.

Through our credit repair tutorials you will discover that the initial thing you require to do to take a step towards free of cost credit repair is to obtain a duplicate of each of your credit rating records. There are three primary credit rating reporting firms. These firms are Equifax, TransUnion, and Experian. You are entitled to one complimentary record from each of these companies a year. You must contrast the three records and document every one of your financial obligations that seem ruining to your credit rating.

When you start your credit report score repair work the quickest way to obtain begun is to highlight all of the little amounts that you can manage to pay. If you believe you can fix your credit on your own then you can. Most creditors who show negative on your credit report will certainly be happy to acquire anything.

Once you pay on a financial obligation on your credit history record it may use up to 60 days to review your credit history record as being paid. Keep in mind that although you pay a financial obligation off on your report, it will stay on your record.

If you need credit repair help since your debt and bills seem as well overwhelming for you to manage after that you could find several areas that provide cost-free credit repair. You must beware regarding people you use to help you repair your credit history due to the fact that there are a bunch of fraudsters out there who will make assurances they can not keep.
The most crucial point is that firms who supply to mend bad credit totally free needs to never bill you for anything in advance. They may provide solutions that do have costs in addition to repairing your credit. These charges could feature the expense of duplicates being made and various other things. You should not agree to any type of charges if a firm tries to bill you for mending your credit history.

An additional point individuals neglect is that when they enter to 'restore my credit history' companies they could hear that debts could be gotten rid of from a credit rating report. Lots of people who are dishonestly trying to supply services to people with bad credit report will make pledges similar to this. Nobody could get rid of adverse info. The only kind of details that could be taken out from a credit rating record is information that is inaccurate. Then this is the only thing that could be erased, if there is a debt on your credit rating report that is not valid and that you do not owe. Details that is exact will remain on your credit history record for 7 years from the date the financial obligation is tape-recorded. A bankruptcy will certainly likewise stay on your credit history record for 10 years. If you had expenses like bank card and you fell behind on them for a month or 2 and then captured back up on them, this also will certainly show on your credit history report. Dropping behind on your bills could stay on your credit rating report for as much as 7 years, even if you have been caught up for a year.

A credit repair company aids lots of folks with bad credit report repair work issues. It is easy to shed track of which costs to pay this month or next month and a credit repair business could assist you acquire back on track economically.

A credit repair company will make use of credit repair software program to help you arrange your financial obligations. You will collaborate with an expert which will look at every one of your bills and your existing income. It is necessary to don't forget that your crucial bills are the costs of necessity for living. These are your rent, electrical energy, meals, junk, and water. Any type of other bills you are utilized to paying will certainly be alloted with your financial obligation and not detailed as living costs.

The company will certainly additionally assist you look at your spending habits. You can save a whole lot of money by taking lunch to work with you or by going home for lunch time as an alternative of eating out.

As soon as the company has analyzed your costs, your earnings, and your investing behaviors they will find out just how much added income you can afford for a monthly settlement towards your financial obligation each month. The fantastic point about this is that when a firm settles your debt for you, then you make just one month-to-month payment towards your financial obligation. The company will certainly disburse your month-to-month repayment amongst your lenders accordingly.

, if there are things on your credit report that are not precise the business will help you ready a credit repair letter to the reporting firms to contest things on your credit rating.. They will certainly help you every step of the way pursue obtaining your credit back on track.

When you make a decision for bad credit record repair work and to go with a business after that you will get a comprehensive created deal. By legislation, if you go through a company that is for profit, not-for-profit, banks, credit unions, and lenders, you are enabled 3 days to back out of the written arrangement. Don't forget, there are many not-for-profit governmental companies developed to really help people obtain their credit rating back on track.

When you are believing concerning credit repair, there are lots of points you need to be mindful of. Then you must be leery, if you obtain an e-mail concerning credit repair. Be certain to explore the business and confirm they could really aid you. The majority of emails sent out about credit repair are typically fraudulent and deceitful. Just keep in mind never to pay any type of cash up front for your credit rating aid.
Another thing you ought to remember is that some deceptive firms tell consumers that they can help them develop a second credit report data. They might provide a new social protection or tax recognition number. Not just does this promise not function yet it is thought about prohibited. The term for a promise similar to this is called 'file segregation'. No one can offer you a new social safety number but the Social Security Administration office. There are quite uncommon circumstances of new numbers being offered out in circumstances of witness defense programs with the government, and significant instances of an identity being stolen. Don't forget that exactly what you really feel to be serious and exactly what they consider major are extremely various. There are likewise thousands of identity frauds that take place on a day-to-day basis. This additionally has created the Social Security Administration to think about these issues even much less today. After that it possibly is, if a credit repair firm makes a guarantee to you that appears as well great to be true.

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Can You Get a New Social Security Number?

Let’s say your identity was stolen and the identity thief opened up dozens of fraudulent accounts, causing you tons of grief and taking months (or years) to untangle the mess. Can you get a new Social Security number and just be done with the records associated with that horrible episode?  Or if your number was exposed in a breach and you feel nervous that it could be misused at some point in the future (and yes, it could), can you change your number as a precaution?

The answer is probably no. But there are circumstances (five, to be exact) in which you can qualify for a new number. They are:

• a continuing threat of abuse of your number;
• more than one person was assigned the same number (that is rare, but it has happened);
• there is a situation of harassment, abuse or a life in danger (as in some domestic violence situations);
• sequential numbers assigned to members of the same family are causing problems;
• religious or cultural objections to certain numbers or digits in the original number.

Even if you qualify, you might want to consider seriously the impact of taking this step. In many cases, employment information and medical records will be associated with your former Social Security number. So a new number can create some problems you may not have anticipated.

And if you are changing your number because you were a victim of domestic violence, you may also be changing your name. If that is the case, the Social Security Administration suggests changing your name first. Domestic abuse victims can also elect to have access to Social Security information blocked electronically.

No matter why you want to change your number, you’ll have to go in person to a Social Security office and document your reasons. If, for example, the number or digit sequence is the problem because of a religious objection, you’d need both documentation of the objection and evidence that you have an established relationship with the group that finds it offensive.

In the case of identity theft, just the fact that you have been a victim will not be enough; you would need evidence suggesting that despite your best efforts to put an end to it, the abuse of your number continues.

In any case, you will need documents to show proof of citizenship and immigration status. (Original documents are typically required.) You can get a head start on filling out the forms you’ll need and knowing which documents to bring here.

While it can be difficult to track all potential signs of misuse of your information, checking your credit reports regularly from each of the three major credit reporting agencies can help you catch some instances of fraud that can be committed in your name. Keep an eye out for unauthorized new accounts or collection items, and make sure all information on your reports is accurate and up to date.

How to Actually Start Living Within Your Means

We could all stand to be more frugal. After all, who doesn’t like to save money? But it isn’t always easy to curb our spending habits, and sometimes trying to find the best deal can feel like a chore. Unfortunately, entering the frugal lifestyle isn’t the easiest thing to do. Thankfully, there are some steps you can take to help make it a smoother transition. With that in mind, here’s my advice on how you can break into frugal living.

1. Start Slow

Sometimes it can be difficult to make changes, and while some of us possess the fortitude to quit our bad habits cold turkey, the rest of us need to ease into transition. That’s why it’s best to take it slow when adopting the frugal lifestyle. Maybe you start by just cutting down on the number of times you go out to eat a week and cook a meal or two from home. Or you start to check for coupons online before you go out to shop. Taking baby steps towards frugality can help make it easier to stick with your new lifestyle.

2. Track Everything

How much are you spending each week? How much are you saving? Paying closer attention to how you’re managing your money can help you identify what areas of your life would most benefit from some frugal practices. Not only that, but tracking yourself can help turn frugality into a game! Each month is a new chance to beat the months prior; an opportunity to spend less and save more.

3. Really Think About What You’re Buying

Every time you’re about to purchase something, really take a moment to consider what it is you’re buying and why you’re buying it. Not only can this habit keep you from making impulsive purchase decisions, but it can also help you reevaluate your choices. In that brief moment of reflection, you might discover that you’re needlessly paying more for a name brand, or that you’d actually save more if you bought two smaller portions instead of the “family-sized” box.

You might even discover that you’re buying more than you actually need for the week. Do yourself the favor and take time to really see if your hard-earned money is being put to good use.

4. Learn to Be Self-Reliant

Whenever you go out to eat or hire a handyman, you’re paying extra for the cost of someone’s labor. Learning how to cook your own meals or how to fix your leaky faucet could save you a ton of money in the long run. Try to take a little time each week to educate yourself on how to take care of a small task. Pick up a DIY book or two, enroll in a class or just ask a friend who’s in the know to show you how. Every lesson you learn is another step toward a frugal lifestyle.

5. Do What’s Easiest and Best for You

Not every frugal habit is going to stick, and that’s OK. Frugality can mean different things to different people. While some folks might take enjoyment in thrifting and hunting down a bargain, others may just want to cut out coupons and garden to save on vegetables. Find what habits work best for you and you’ll be better able to stick to a frugal lifestyle. Remember: Frugal doesn’t mean you’re cheap, it means you’re smart with money and know when it’s worth spending.

Adopting a frugal lifestyle is a great way to maximize your savings potential. While the changes may be difficult to manage at first, your new money-saving habits can soon become second nature. Believe me, you won’t miss that extra night of take-out once you see the dollars in your savings