1) The first thing to do is input your current household balance. Do NOT use the 'Reset Household Budget' option. Instead, use the 'Credit' option on the 'Credits and Debits' page (see paragraph 2 below).
The 'Reset Household Budget' option is to be used only when you fail to enter a 'Credit' or 'Debit' and need to balance your Personal Finance Center against your bank statement.
2) To set your current household balance, use the 'Credit' option on the 'Credit and Debits' page. Insert today's date, select the 'Credit' radio button, enter an amount, then click the 'Add Record' bar.
3) Now you are ready to begin inputting debits (payments) as they occur. Simply enter the date of the payment, select the 'Debit' radio button, enter an amount, and then choose the appropriate 'Type of Payment' option. If; for example, you are recording an auto loan payment, select 'Auto Loan' from the 'Type of Payment' drop down menu. Next, if the payment will reach the creditor late, select the 'Late Payment' radio button. If you are paying the bill by check or money order, enter the check/money order number. If paying by cash, simply leave the 'Check Number' field blank. Finally, click on the 'Add Record' bar and you're done!
4) After entering Credits and Debits, click on the 'Credit Grade' option to view an estimation of your credit score, and to review Tips on how to improve your credit. Note: The 'Credit Grade' is an estimation only, and does not factor in any defaulted debts or transactions prior to the date you began using the software.
MISTAKES? - How to correct a 'Credit' or 'Debit' entry:
*) Place your mouse pointer over the entry, click your left mouse button once, then click on the right mouse button. From the menu that will appear, highlight (select) the 'edit record' option. It's that easy!
SORTING RECORDS - CreditFederal.com makes it easy:
*) To sort (view) specific records, click on the 'View History' icon, located to the upper right of your records entries. A small box will appear.
*) You will have the option to View 'Credits' or 'Debits'.
*) If you select 'Credits', you have the option to view all Credits, or Credits that occurred during a specific time frame.
*) If you select 'Debits', you have the option to view all Debits, or Debits that occurred during a specific time frame, and/or to view Debits by 'Type of Payment'. This feature is most useful for seeing how much you spend in each 'Type of Payment' category, plus to calculate expenses which may be a tax deduction factor for your situation.
CREDIT GRADE - Late Payments and other Factors:
*) This software will provide a 'Credit Grade' estimation. The Credit Grade is an estimation only, based upon your 'Credit and Debit' entries and does not calculate defaulted debts. If; for example, you defaulted on a medical bill, the software does not factor that in that debt. Also, if you create a New 'Type of Payment', our software will not factor in those payments/debits. Hence, we suggest using our pre-installed 'Type of Payment' options.
*) The software can; however, give you a 'Credit Grade' estimation based upon your 'Credits and Debits' entries.
*) The software will make adjustments to the 'Credit Grade' based upon these 'Credits and Debits' entries: Late Payments, No Revolving Credit (Credit Cards), No Active Loans, and Debt-to-Income Ratio.
BILL DUE DATES - Payment Reminders: CreditFederal.com offers two ways to help you remember to pay your bills on time:
*) You can use the Bill Due Date page of your Personal Finance Center. On this page, you simply type in your bill due dates, and check it daily to see if any bills are due.
*) Or, you can use the Free Email Reminders provided by CreditFederal.com.You can set up reminders to be sent to you via email days or weeks before each bill is due, and you can setup automated monthly reminders as well. This free service is available at www.creditfederal.com/reminder-pay-bills.html
24 HOURS A DAY - CreditFederal.com is ready to help:
*) As you use the software you will see tips on how you may improve your credit, as well as financial offers. The 'Click Here' links will send you to the appropriate section of CreditFederal.com where you can apply for credit cards, loans, debt help and other services. (Note: In order to access CreditFederal.com via the Personal Finance Center links, your computer must already be online.)
HISTORY - The CreditFederal.com Personal Finance Center software:
As a free public service to consumers, CreditFederal.com developed this useful and easy to use software. CreditFederal.com wants to be a vital and beneficial service to U.S. consumers of all credit types, and not simply a financial resource to obtain credit. From January 2001 to present, CreditFederal.com has served millions of U.S. credit consumers, but none more important than you.
The software includes these financial functions:
* Balance Calculator - users can view their current household balance, as well as sort and view expenses and deposits by Type, Date, and other factors.
* Bank Checking Account Statement Manager - instead of merely their checkbook register, users can manage their checking entries via the software. Whereas checkbook registers (printed ledgers) do not offer the ability to rearrange or sort entries, CreditFederal.com's software facilitates these actions.
* Bill Payment Reminder - our newest release includes a Bill Due Date section. Users can input their bills and when they are due to help them remember to send payments on time.
* Credit Score - the software also includes a 'Credit Score' feature, which analyzes users' debits and credits to calculate a credit score.
The software is free and downloadable to business or home computers, and does not require any sensitive data such as bank account details.
There are no ads nor popups, and the software has an 'uninstall' feature which enables easy removal from a computer.
If you need an all-in-one software with a balance calculator, bank checking account statement manager, bill payment reminder and a credit score, download our Free Personal Finance software.
Search our free credit help resources and apply for financial services. The credit crisis may have prompted stricter credit card company and loan lender approval standards, but poor credit people can still find bad credit financing.
Credit Federal launches an online database of financial information. Visit our budget learning center, or read our Financial News about banks, major credit card issuers, loan lenders, and special alerts regarding the financial industry.
