So Money with Farnoosh Torabi 1773: Ask Farnoosh (New!): Getting an 800+ Credit Score, Investing Pro Tips and Best Budget Tools
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Jan 10, 2025 Celebrate a decade of financial wisdom as the host reveals tips for achieving an 800+ credit score and practical insights for novice investors. Discover the effects of paying off car loans early, and learn whether canceling a department store credit card is worth it. The host also highlights vital resources for California wildfire recovery, shares reflections on 2024's challenges, and introduces budgeting tools that can boost your financial health. Join in the community spirit as listeners share their journeys!
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Farnoosh's 2024
- Farnoosh Torabi had a busy 2024, launching many projects like the So Money Members Club and a live investing workshop.
- This led to burnout and a health scare, prompting a slower, more intentional approach to 2025.
Prepaying Loans
- Pay off loans early if there's no prepayment penalty, prioritizing peace of mind.
- Check loan agreements for penalties before prepaying.
Credit Score Impact
- Paying off a car loan early can slightly impact credit scores due to credit mix changes.
- However, the impact is minimal (10%) and positive payment history remains.
