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Your credit score is that little, three digit number that ranges from a low of 300 to a high of 850. As you might guess, the higher your score the better. Knowing your score is especially critical if you're about to apply for a mortgage or buy a car. While you may not know your score you can bet that your lender does. If you have a very good score of 750 or higher you’ll not only get the loan you need it will have a very favorable interest rate. Conversely, if you have a low credit score you might not get approved for the loan or if you are it will have a high interest rate. For that matter, if you have a low credit score you're probably paying more for your homeowner’s and auto insurance. If you don't know your credit score you can get it free on sites such as CreditKarma.com and CreditSesame.com. Neither of these will be your true FICO score but will be close enough that you will know how potential lenders view you.
#6: What’s the reward rate on your credit cards?
If you use a credit card sensibly and pay off your balance every month do you know your rewards rates? If you don't know this, you can't know whether the amount of rewards you earn will offset the fees you pay to have the card. The rewards rate for most cards is one point or cent for every dollar you spend. This means if you have a card with an annual fee of $50 would need to charge $5000 just to break even.
#7: How much are bank fees costing you?
If you're paying anything at all for your checking account you might want to make a change. The overwhelming majority of checking accounts are free these days. Banks usually charge fees for things like an overdraft, using an out-of-network ATM or maintenance. You can probably avoid having to pay any maintenance fees by having your paycheck direct deposited into your checking account or by making sure you keep a minimum amount in the account. You can avoid overdraft fees by instructing your bank to decline any debit card transaction that would overdraw your account. And finally, if your bank doesn't have branches near where you work or your home and if it doesn't reimburse you for using out-of-network ATMs, you might want to find another bank. These fees are just a silly way to spend your hard earned money.
#8: Are you being paid fairly?
Do you know how your salary stacks up in the job market? It's important to know this. If you're job hunting and know what other people at your skill level are being paid you will know what salary to request . It can also tell you when it's time to ask for a raise at your current job. The answer to how your salary stacks up against other people with the same skill level might really surprise you.
The bottom line
If you don't know the answers to some of these questions you at least now know what you don't know. You should then get busy and learn the answers, as this would definitely profit you. In fact, in some cases it could even put several hundred dollars a month more in your pocket. And wouldn't that be nice?