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- Our pick for: Fixed monthly payments
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- 6. Sell your wares on Etsy
- Rebook if you find a cheaper price
- File taxes online with tax software
- 10. Search for regular jobs for kids
- How to have more taxes taken out of your paycheck
- Pay with points and miles
- No-exam life insurance rates for nonsmokers
- 2. 'I’ll buy back in next week when it’s lower.'
- Retail business applications increased by 87%
- Customer support
- Other general-purpose travel card reviews
- Coverdell education savings accounts
- What is included in a small-business budget?
- Cheapest auto insurance in Texas for 20-year-old drivers with one speeding ticket
- What if you can’t afford to tip?
- Solar panel incentives by state
- DFW Terminal D
- Finding a photo provider
- 2015 credit card bonus categories
- 10. Farmers Market Stall
- AndroMoney
- Example money market account APYs at select institutions
- Part-year resident status rules
- 11. Advertising and marketing
- Dividend yield
- The details
- Appendix: How the math works in our examples
- Best insurance company for accident forgiveness: Geico
- Look for outside funding
- The Amplifier Grant
- What is P2P payment?
- 12. Homebuyer Assistance Program (Volusia County)
- Alternatives for small expenses
- After booking
- Cheapest auto insurance in California for 20-year-old drivers with one speeding ticket
- FHA appraisal
- Chase Dining
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- Best insurance company for accident forgiveness: Geico
- 6. OfferUp
- 2. Count your coins and bills
- Resident status rules
- No-exam life insurance rates for smokers
- AKC
- How much should a small-business budget be?
- 6. United Airlines
- Ford Foundation
- 4. Determine the option time frame
- 3. Start small
- Equipment Financing
- 7. Delta SkyMiles® Gold American Express Card
- 2014 credit card bonus categories
- 5. Enter a debt management plan
- 4. Find your gate
- 3 disadvantages of sole proprietorship
- How to have less taxes taken out of your paycheck
- Where to get it
- 3. 'I’m bored of this stock, so I’m selling.'
- Transportation and warehousing business applications grew by 100.7%
- User experience
- Benefits
- 4. Earn badges through Live videos
- Step 7: Write client proposals
- 13. Affordable Home Ownership Assistance Program (Daytona Beach)
- Capital One
- Utility-based clean energy incentives
- 9. Choose a real estate agent carefully
- Prepared to put down roots?
- Pros of C corporation
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- 12. Business entertainment
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- 9. Shared home improvement equipment
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- FedEx Small Business Grant Contest
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- 1. No liability protection
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- Reviews
- Corporate bonds
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- Coca‑Cola Foundation
- Cheapest auto insurance in Texas for 20-year-old drivers with one at-fault crash
- How does RVshare insurance work?
- Past years' state tax rates
- 4. Consider passive investing
- Business Line of Credit
- Vanguard 500 Index Fund (VFIAX)
- Allstate vs. State Farm home insurance
- Home equity line of credit
- Allianz Global Assistance
- Cons of C corporation
- Dividend payout ratio
- Hire and work with a tax preparer or another tax pro
- How to use a W-4 to owe nothing on a tax return
- Figo
- 23% of business owners cite inflation as their single most important problem
- Refinancing
- 1. Live in the house for at least two years
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- Step 8: Set your pricing
- What if you’re unhappy with the service?
- SAVE benefits available by October 2023
- Cheapest auto insurance in California for 20-year-old drivers with one at-fault crash
- 10. Narrow down your ideal type of house and neighborhood
- Our pick for: An upgrade path
- 13. Travel expenses
- 5. Wait at the gate
- AM Best Financial Strength Rating: A+ (Superior)
- CDs or U.S. savings bonds
- Vanguard Total Stock Market Index Fund (VTSAX)
- Mortgage insurance
- Allstate vs. Geico home insurance
- Bonzah
- American Airlines credit cards
- Delta Airlines credit cards
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- Other airlines' credit cards
- 7. Poshmark
- 11. Monetize your social media accounts
- Part-year resident status rules
- MetLife
- 40% of small-business owners note trouble filling jobs
- Cost
- 2. See whether you qualify for an exception
- 5. Build a community
- 14. Down Payment Assistance Program (Orange County)
- SAVE benefit starting in February 2024
- DFW Terminal E
- How's your job security?
- Your goals and time horizon
- J.D. Power Ranking
- 2. Harder to get financing and business credit
- Winner for best hotel credit card: Marriott
- 10. Vacation rentals
- Pros
- Home Depot Foundation Veteran Housing Grants Program
- An example of buying a call
- Vanguard Total Bond Market Index Fund (VBTLX)
- Cash-out refinance
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- 5. Buy index funds
- 8. Get advertising revenue from your blog or YouTube channel
- 14. Interest
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- 3. Keep the receipts for your home improvements
- Cheapest auto insurance in Texas for 20-year-old drivers after a DUI
- 15. Dare to Own the Dream (Tampa)
- Why we love RVshare
- SAVE benefits available by July 2024
- 8. The Platinum Card® from American Express
- Risk tolerance and diversification
- 4. Minimize restaurant spending
- How it works
- Nationwide
- 73% of business owners feel the impact of supply chain issues
- Best insurance company for having few customer complaints: American Family
- Cons
- Step 9: Stay organized and deliver results
- Vanguard Balanced Index Fund (VBIAX)
- Cheapest auto insurance in California for 20-year-old drivers after a DUI
- Which one should I take?
- Allstate vs. Farmers home insurance
- Sure
- Pros of S corporation
- Best insurance company for having few customer complaints: American Family
- Gifting large sums of money to family
- NCQA Score Range: 2.0 to 4.5 out of 5
- Nonresident status rules
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- An example of buying a put
- 16. East Tampa CRA Down Payment Assistance Program (Tampa)
- Cost
- Are you financially prepared?
- 15. Bad debt
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- 65% of small-business owners expect revenue to increase
- Be careful when booking Hyatt free nights
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- 11. Stick to your budget
- Our pick for: No security deposit, low annual fee
- 2020-2022 earned income credit amounts
- Personal loan
- Cons of S corporation
- 6. Keep an eye on your index funds
- Best Western credit cards
- Hilton credit cards
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- UNLOCK AIRPORT LOUNGES WITH THE RIGHT CARD
- 3. It’s harder to sell your business
- The details
- Where to get it
- Ongoing support
- The 10 largest lottery jackpots
- Trusts
- Templates and tools
- Methods of payment
- Cheapest car insurance for young drivers
- Paying for vacations, cars or other stuff
- 5. Get discounts on entertainment
- Spot
- 55% of business owners expect all accepted payment methods to eventually become digital
- Conventional loans
- Silicon Valley Community Foundation
- Vanguard Small Cap Index Fund (VSMAX)
- Home purchase: Basic Home Mortgage 203(b)
- California young child tax credit (YCTC)
- 9. Become an Instagram influencer
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- How to compare life insurance quotes
- Giving a laid-back loan
- 1. Has the W-4 form changed?
- Trupanion
- 21.6% of small businesses cite a large negative effect on business due to the pandemic
- Bill & Melinda Gates Foundation
- Cheapest full coverage car insurance in Texas for 30-year-olds
- Accounting
- 17. Homeownership Assistance Program (Miami-Dade County)
- Vanguard Total International Stock Index Fund (VTIAX)
- FHA refinance loans
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- 16. Taxes
- If you owe taxes
- 6. Map out major purchases
- 12. Academics courses
- FHA loans
- Severe weather
- Forms and landing pages
- Cheapest full coverage car insurance in California for 30-year-olds
- 12. Make the most of walk-throughs and open houses
- Life insurance quotes vs. rates
- 6. Board the airplane
- Setting up joint bank accounts
- Robert Wood Johnson Foundation
- Branding
- 18. First-Time Home Buyer Program (Hallandale Beach)
- Reasons to take pause before renting from RVshare
- Chase Sapphire Reserve®
- Pros of LLC
- California adoption cost tax credit
- 1. What does "sole proprietor" mean?
- 2. What does it mean to be exempt from taxes?
- How it works
- Performance reports and analytics
- Airport parking at DFW
- Our pick for: No security deposit, low annual fee, potentially high credit limit
- 10. Monetize your Twitch channel
- If you’re getting a tax refund
- Best insurance company for financial strength: Auto-Owners
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- Clif Family Foundation
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- Cons of LLC
- Cheapest auto insurance for senior drivers
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- Best insurance company for financial strength: Auto-Owners
- 17. Employee salaries
- 2. Can a sole proprietor have employees?
- 7. Restrict online shopping
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- Where to get it
- 13. Language courses
- 96% of small-business owners have business bank accounts
- Cheapest minimum coverage car insurance in Texas for 30-year-olds
- Customer support
- 10. Hilton Honors American Express Aspire Card
- Human resources
- Cheapest minimum coverage car insurance in California for 30-year-olds
- Other specialty FHA loans
- 13. Don’t skip the home inspections
- 3. Does a sole proprietor need an EIN?
- Pros
- DFW rental car center
- 18. Employee benefits programs
- 7. Retrieve your luggage
- 3. When should I review my W-4?
- 60% reported no impact from recent bank failures
- Green living
- Chase Freedom Flex℠
- 4. How do you change from sole proprietor to LLC?
- 8. Delay purchases with the 30-day rule
- Earthquakes
- 11. Sell your photography
- Pros
- The details
- 14. Business or marketing courses
- Amazon Web Services (AWS) Imagine Grant
- Cheapest auto insurance in Texas for 30-year-olds with poor credit
- Organization
- 14. Negotiate with the seller
- Our pick for: Average credit and rewards
- 19. Employee gifts
- 4. Can I adjust my W-4 multiple times throughout the year?
- How it works
- Sinkholes
- Cons
- How renting from Cruise America works
- Cheapest auto insurance in California for 30-year-olds with poor credit
- Public transportation options
- Business entity summary
- 9. Get creative with gifts
- 8. Exit the airport and enjoy your trip
- Where to get it
- Over half of small businesses have $50,000 or more in their business banking accounts
- 20. Contracted labor
- Cons
- 15. Personal wellness
- Best insurance company for discounts: Amica
- Taxis and rideshare at DFW
- 15. Buy adequate home insurance
- Best insurance company for discounts: Amica
- Cheapest auto insurance in Texas for 30-year-old drivers with one speeding ticket
- Chase Freedom Unlimited®
- How to maximize your rewards
- 10. Lower your car costs
- Cheapest auto insurance in California for 30-year-old drivers with one speeding ticket
- 21. Legal and professional fees
- Our pick for: Average credit and no annual fee
- 12. Become a dog walker with Rover or Wag
- Look up the insurer’s financial strength
- How does Cruise America insurance work?
- 11. Reduce your gas usage
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- How it works
- Cheapest auto insurance in Texas for 30-year-old drivers with one at-fault crash
- Benefits of FHA loans
- Why we love Cruise America
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- Ink Business Preferred® Credit Card
- Research the insurer’s reputation for customer service
- Disadvantages of FHA loans
- 13. Sell unused gift cards
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- State Farm Good Neighbor Citizenship Company Grants
- Where to get it
- Individual stocks
- Our pick for: Limited credit
- 2. Consider financial strength
- Cheapest auto insurance in Texas for 30-year-old drivers after a DUI
- Reasons to take pause before renting from Cruise America
- 13. Switch your cell phone plan
- Best insurance company for customer satisfaction: State Farm
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- Best insurance company for customer satisfaction: State Farm
- 18. Consulting
- 3. Evaluate the policy options
- Google Ad Grants
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- 14. List your spare bedroom on Airbnb
- Dividend stocks
- 14. Reduce your electric bill
- 4. Get prices from a handful of companies
- Our pick for: Good credit
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- 15. Lower your student loan payments
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- How renting from Outdoorsy works
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- Best insurance company for military members: USAA
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- The Audacious Project
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- Our pick for: Travel
- 17. Refinance your mortgage
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- NBCUniversal Local Impact Grants
- Our pick for: Instant gratification
- 17. Get a babysitting gig
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- Kubota Hometown Proud Grant Program
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- 20. Pay off high-interest debt
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- Our pick for: Personalized rewards
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- Cheapest auto insurance in Texas for 40-year-old drivers after a DUI
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- Cheapest full coverage car insurance in Texas for 50-year-olds
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- 24. Join initiatives to get free items
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Your credit utilization is simply the portion of your available credit you use, expressed as a percentage. It is the total of balances on all your credit cards divided by the total of all your credit limits. (It's also figured on a per-card basis.) This number is a big factor in your credit score — the less available credit you use, the better it is for your score.
Here’s how to keep your utilization low.
Why is having a low credit utilization important?
Paying your balances on time and in full every month is the best way to keep your score intact or build it. On the other hand, using a larger portion of your credit limit could do damage. Credit utilization accounts for around 20% to 30% of your credit scores.
But if a financial crisis means you have to lean on credit cards, take heart: Credit scores can rebound quickly once you're able to lower your utilization.
How to lower your credit utilization
1. Keep your charges on each card to a minimum
The simplest way to avoid losing credit score points for using too much of your limits is to watch how much you charge to each card. Make a habit of patrolling your online accounts to keep tabs on spending. If you are close to using 30% of your credit limit on one card, try to make a payment or switch to using another card.
Simply getting into the habit of paying twice per month instead of once could help you decrease your credit usage. Lower balances can save you interest if you carry a balance — and are good for your credit score regardless.
You can also monitor your per-card and overall credit utilization by viewing your credit score profile from NerdWallet.
2. Ask for higher credit limits
If it’s tough for you to avoid utilizing more than 30% of your available credit, another solution might be to request a credit line increase on your card or cards. Getting a credit limit increase might require you to call your card issuer or make the request online. Sometimes increases are offered automatically if you’ve had your card for a while and have a positive payment history, so be on the lookout for those offers when you log in to your account.
Another option to get a higher overall credit limit is to ask a friend or relative to add you as an authorized user on an established account. The primary user doesn't even have to give you a card or tell you the account number for your credit score to benefit. Do choose carefully: Being on the account of someone who is having problems with credit could affect your score, too. You want to be on an account showing good payment history, preferably with a high credit limit and consistently low credit utilization.
A higher overall credit limit could help you keep your credit utilization lower than it would be otherwise. This could make a big difference in your credit score. You can check your own credit to see the effect (and it won't hurt your score).
3. Set up balance alerts to stay on top of spending
If you find yourself consistently overspending, setting up balance alerts can help keep your spending in check.
Sign up with your credit card issuer to receive alerts via text message or email. You can choose to be alerted when the balance reaches a certain amount or percentage of your credit limit. Your goal is to keep the balance below 30%.
4. Pay your bill before your issuer reports to the credit bureaus
Most credit card issuers report your balance and payment activity to the credit bureaus once every 30 days. However, this doesn’t necessarily coincide nicely with when your bill is due. If your issuer reports a few days before the end of your billing cycle, you’ll consistently look like you’re carrying a high balance — even if you pay it off in full just a few days later.
Place a call to your card issuer’s customer service line to find out when it reports to the credit bureaus. Simply pay off as much of your balance as you can in advance of that date every month, and you might see a jump in your score.
5. Monitor your total credit utilization
If you have multiple credit cards, it might be hard to view the bigger picture of your credit utilization. Using the calculator below, input your credit card balances and limits to check whether you're under the recommended 30% utilization threshold.
If you’re creeping up to that limit, do your best to pay down your balances and explore ways to stop spending money.