Taxpayers are always very interested in the various tax credits that they can use to reduce their overall tax payments. The Earned Income Credit, commonly referred to as the EIC, is a tax credit which was established in an effort to help people who earn a low income to live as well as possible in their financial situation.

The earned income credit began in 1975. The idea was that the poor were just getting poorer with the taxes they were paying on top of a low income job. The credit gives back to taxpayers a good portion of the money that they paid in taxes throughout the year. In that way, families could keep more of what they earned.

The amount of the earned income credit has increased over the years. Those who fought for the tax credit agree that it is a better way to help people living in poverty than trying to raise the minimum wage. People that receive the tax credit sow that money back into the economies of their neighborhoods where it helps everyone.

Several people have inquired from me whether they should invest in the Philippine stock market. They also wanted to know how to begin doing it. I am not sure know if they are really seriously asking the question. They might be just curious about the stock market considering that it has been always in the headlines lately. This is brought about by the fact that it is at its highest levels since the beggining of its creation.

Investing in the Philippine stock market is not for the faint hearted. As an investor you must have expectations as to how much you are going to earn for a certain vehicle of investment. Such is expectation is measured in terms of how much your money will grow at a certain period of time. (Most usually this is measured in interest per annum) Because the Philippine Stock market is in its all time high for several months now, people think that they should join the band wagon. They do not even understand the basic principles involved nor do they understand how the stock market works. I am not saying that you should be an economist before you should invest in the stock market.

1. Make sure errors aren’t hurting your credit

Reviewing your credit report can serve you head off costly errors. In one new study, more than 50% of the credit reports prepared took errors. Other studies have shown similar results with as high as a 70% error rate. The most average error occurs when the information of new person, with a similar name or account number, is recorded in your credit profile.

2. Track your history of payments

Potential lenders want to experience a history of punctual payments before they’ll think offering you a lend or credit. See your report to see that your payments are being reported accurately to the credit covering agency (CRA). A history of late payments will result in high interest rates being charged or having your credit application or a loan abnegated. Late payments will also lower your FICO score.

3. Protect against potential identity thieving