Marvin, tell my audience about yourselves. What made you want to start your website brickbybrickinvesting.com?

I am a 29 year old father, husband, and writer who has a deep passion for investing and personal finance. I have an extensive military heritage, my parents served for 20 years and I have served as well. While I did not serve 20 years like my parents I have been a part of public service for almost three decades. It is ingrained in my soul and something that I hold very close to my heart. During the 2007-2008 economic collapse I saw many lives destroyed (economically) in a very short time period without warning. This made me question the financial system as a whole but more importantly my knowledge of it. How could someone who did everything right by investing in a 401k, having an emergency fund, and investing in a home lose half of their wealth in such a short time period. This began my journey towards educating others about personal finance and investing.

Please name some quick and easy ways for a person to improve their credit even if they’ve recently been through a divorce or some type of financial calamity?

Spend less than you earn. It sounds so simple but is seldomly implemented. Additionally, make payments in full every month on your credit cards to show creditors that you are reliable. This could be as simple as getting a gas credit card.

When a person walks into a car dealership what are some credit questions you recommend that consumer ask the salesman or finance manager?

First and foremost you want to have a down payment ready before walking into a dealership. Secondly you want to try and negotiate the lowest rate possible. Ask the Salesman what the qualifications are to qualify for their lowest rates.

How long does the credit restoration process take?

The bad news is creditors weigh your recent credit history the most when composing your credit score. The good news is over time by making payments in full you can rebuild your credit back to where it was. Unfortunately there is no set time, each individual is different. Don’t stress things you have no control over. Instead focus on the things in which you have a direct impact and you will be fine.

If a person can’t purchase a vehicle in cash, what’s the ideal down payment you recommend they have? Does a larger down payment mean a shorter loan and APR?

I personally make it a requirement to have a down payment before purchasing a car. Preferably 20% at the very least 10%.

In your a first time car buyer and you’ve never shopped for insurance before, what are some tips to get the lowest payment possible? What are some questions you should ask your insurance agent?

Simply ask your insurance agent what are some things you can do to lower your insurance. Another great thing to do is call your insurance agent before going to purchase a vehicle. Certain vehicles qualify for bonuses which may help sway your decision when shopping for a vehicle.

Besides brickbybrickinvesting.com what are some of websites/blogs you would recommend our visitors visit while trying to improve their credit?

I would definitely recommend The Budget School and The Free Financial Advisor for individuals looking to improve their credit.

Brick By Brick Investing
Facebook
Twitter

This is our thirteenth interview in our “1000 Interview Challenge” If your interested in an interview, please contact me.

This interview was conducted by Shane McC. Shane currently is attending RISD studying computer programming. He enjoys traveling and plays hockey. He played for the Boston Junior Bruins of the EJHL during the 01-02 season. You can follow him on Google+