FRIDAY, JULY 29, 2016
HOW-TO Austin Daily Herald
GUIDE
• SUPPORT NEWSPAPERS IN EDUCATION • BUILD GOOD CREDIT • DECIDE INDEPENDENT OR ASSISTED LIVING • CHOOSE A PHARMACY
HOW TO
BUILD GOOD CREDIT Getting your first loan for a house or a car is a lot like being a recent graduate. You need experience to get a job, but in order to get that experience you have to have a job. The same goes for a credit history. You need credit to get a loan, but the best way to build that credit is by having a loan! What is your credit history? Simply, it’s an overview of all of the places that have lent you money in the last seven to ten years. A credit report is a detailed list of this information. There are three credit bureaus that collect the information for credit reports – Experian, Equifax, and TransUnion. The three bureaus have access to the same information, but they don’t necessarily report in the same way so your credit score may look different from bureau to bureau. Your credit score is a number that shows your credit worthiness to lenders. Credit scores usually fall between 300 and 850. The FICO score is the most common type of credit score. The exact formula isn’t available to the public, but it does include things like your payment history, new credit, length of credit history, amounts owed, and type of credit used. The majority of your credit score is determined by your payment history and the amount you owe, but the other factors also play a role. Building credit is about how risky you look to the decision makers involved in the many aspects of your life. Your credit history can help, or hurt, your chances when you are trying to rent a home, looking for a new job, or obtaining insurance. A bad credit history and a low credit score may make you look irresponsible and more likely to miss payments, even if that’s not necessarily true. Borrowers with good credit are offered lower interest rates, lower insurance premiums, and they are less 2
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likely to run into trouble with employment eligibility standards for some jobs. A stable financial future begins with the formation of a solid credit history and credit score. So how do you do it? It takes a little time, patience, and there is more than one way to get there. One of the simplest ways to build credit is to sign up for a credit card. Unsecured credit cards don’t require a deposit for use, but you do have to agree that you will pay back the money you borrow. If you don’t qualify for an unsecured credit card due to no credit history or other factors, you still have options. You may try using a cosigner for an unsecured credit card or you can also apply for a secured credit card. Secured credit cards require a cash deposit to use them. The deposit is most often the same as the credit limit assigned to the card, so if you make a deposit of $500 you have a $500 credit limit. This set up allows you to prove your credit worthiness and over time you can upgrade your card to an unsecured card, with your initial deposit being returned to you. Once you have a credit card you need to prove that you have the ability to use it in a responsible manner. You can do this by making small purchases that you know you can pay off immediately. It will be tempting to use your card for everything, but it’s important to avoid spending more than you can pay off in full each month. Experian, one of the credit report agencies listed above, says that paying your credit card bill on time is the best way to build a good credit score. To avoid paying interest on the money being lent to you via your credit card you’ll also need to pay your bill in full each month.
You may also want to apply for and open multiple new accounts once you have your first credit card. While signup bonuses can be attractive, acquiring too much credit too quickly can have a negative effect on your score. Using one card and building stable habits over time is a better approach. You’ll also help your credit score by keeping your credit card open, even if you no longer use it. The length of your credit history accounts for 15% of your credit score. Your credit history looks much shorter than it is if you have a card for five years, close it, and then open a new card. If you close that card you also lose the available credit associated with it, negatively impacting your debt-to-limit ratio. That ratio accounts for 30% of your credit score and references how much of your credit limit has been used. This ratio is also helped by keeping your overall balances low. Low balances keep you from going into debt and improve your credit score over time. There are also tools that can help you keep track of your credit score. You may want to check your credit score occasionally to make sure you’re staying on track. You are entitled to a free credit report from all three credit reporting bureaus once per year. Visit www.annualcreditreport.com to request your reports. Your financial institution may also offer tools to help credit building advice. iQualifier from Accentra helps members analyze their spending and payment habits and provides suggestions on steps to be taken for improved credit. Most importantly, building credit takes time. You have to establish a history and then maintain it with good habits. It will take more than a few months to accomplish, but start now and you’ll be enjoying your new car or home before you know it. AUSTIN DAILY HERALD • HOW-TO GUIDE
AUSTIN DAILY HERALD • HOW-TO GUIDE
FRIDAY, JULY 29, 2016
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HOW TO
CHOOSE A PHARMACY Your pharmacist plays a very important role in helping you decide what is best for your health care needs. In addition to dispensing medications, pharmacists should also advise you about any complications or other considerations in taking a particular medication. Besides your doctor, your pharmacist is one of the most important health care resources, and you should feel comfortable asking him/her questions. Some key questions to ask when choosing a pharmacist include: Does the phar macist take extra time to answer your questions and fully explain your medications? Minnesota
law requires a pharmacist or intern to explain your new medications and to answer any questions you have, make sure you are receiving this counseling. Does the pharmacist administer immunizations or have any special training, such as in diabetes management or asthma control? Is the pharmacist personable and seems genuinely interested in you and your family’s health care needs? Does the pharmacist recommend over-the-counter products or vitamins, and also let you know which ones NOT to take with your medications?
WHAT TO LOOK FOR IN A PHARMACY n Convenience: Are they in a convenient location and offer ample parking? If you are unable to get to the pharmacy, make sure they offer delivery or mail-out services. Also check to see if they have a prescription drop box, which gives you the freedom of dropping off your prescription any time of the day. n Personal Health Consultations: Look for a pharmacy that offers a private consultation room or area, so you can ask personal questions about your medications and health care needs without being overheard. n Insurance Acceptance: Finally, does the pharmacy accept a wide range of insurance plans? Insurance co-pays and contract pricing for prescriptions are usually the same 4
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wherever you go, but it’s important to know up front if the pharmacy will accept your insurance. n Competitive Prices: Choose a pharmacy that also offers competitive prices on prescription and over-the-counter products. It is also important that the pharmacist has your best interests in mind, and offers generic medication, if there is one equivalent. Make sure he/she educates you on any differences between name brand and generic. It’s important to pick one pharmacy for the purchase all of your medications, prescriptions and over-the-counter products because this reduces the chance for drug interactions or side effects. By using one pharmacy, the pharmacist will know your medication history more thoroughly. AUSTIN DAILY HERALD • HOW-TO GUIDE
AUSTIN DAILY HERALD • HOW-TO GUIDE
FRIDAY, JULY 29, 2016
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HOW TO
DECIDE INDEPENDENT OR ASSISTED LIVING
INDEPENDENT LIVING Cedars Independent living community caters to seniors who are very independent with few medical problems. Residents live in fully equipped private apartments. A variety of apartment sizes are available from studios to large two bedrooms. Fine dining services are offered by Chef Jack with custom-designed meal packages. Residents can choose to pay for a specified number of meals per day or cook on their own. Enjoy the numerous social outings and events to choose from for entertainment.
ASSISTED LIVING
Assisted Living communities are designed for seniors who are no longer able to live on their own safely but do not require the high level of care provided in a nursing home. Assistance with medications, activities of daily living, meals and housekeeping are provided. Restaurant style dining is provided in a central dining room. Residents live in a private apartment with kitchen area. Staff is available 24 hours per day for additional safety. Cedars assisted living community provides licensed nursing services. Social activities and scheduled transportation are also available. A special unit for Alzheimer’s residents is available.
The Cedars is a family owned and operated business, we are proud of our commitment to provide quality care and housing to those who have served us so well. This year the Cedars celebrates 30 years of service, Join us September 24th for an amazing 30 year celebration.
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AUSTIN DAILY HERALD • HOW-TO GUIDE
AUSTIN DAILY HERALD • HOW-TO GUIDE
FRIDAY, JULY 29, 2016
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HOW TO
SUPPORT NEWSPAPERS IN EDUCATION You can sponsor a class for a small donation. It only takes a few dollars a day to provide an entire classroom with a week’s worth of newspapers. If you are interested in learning more about our program or would like to make a donation, please call Jana Gray at 434-2220. Teachers, are you interested in getting papers for the upcoming 2016-17 school year? Call 434-2220 or e-mail jana.gray@austindailyherald.com to be added to the list.
Students using newspapers in schools scored an average of 10% higher on standardized tests. Newspapers in Education works especially well for students from non-English speaking households It reduces “avoidance’ attitudes related to reading. It gets students interested in what they are reading both by having relevant subject matter and by using materials written in a style that students prefer to the style of textbooks. 8
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It provides specific strategies and exercises that help students of varying abilities learn critical reading skills. The curriculum has proven to be flexible and adaptable. It has been used in both elementary and middle school settings, as well as high school summer school, and in both language arts and social studies classes. Significant improvement has been documented in Middle School aged children exposed to newspaper programs. AUSTIN DAILY HERALD • HOW-TO GUIDE