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Monday Morning Money Moves

Having a hard time snapping out of weekend mode? Make the most of your Monday by crossing these nine financial "to do's" off your list.

Protect your good name
What's more important than protecting your good reputation? How about that pristine credit record you've worked hard to keep clean? Your credit history determines what interest rates you pay on credit cards and a mortgage, and even how much you'll shell out for auto or homeowner's insurance in some states.

Sadly, identity theft is becoming more common, with crooks fraudulently running up credit card or cell phone accounts, passing bad checks, or getting a loan in someone else's name. With a quick phone call and a trip to the Xerox machine, you can create a cocoon around your credit file while the coffee brews in the break room.

Warning: Bad credit can blacklist job seekers

Your credit rating. Most people only worry about it when they're applying for a mortgage or credit card. But did you know your bad credit rating could keep you from getting the job you want?

If you're applying for a high-security job or a position with heavy financial responsibilities, the way you have handled your personal finances can color your chances of being hired in these sensitive, accountable situations.

Why is it anyone's business if you have a little 'bounce' in your checks?

Credit rating and job performance -- what does one have to do with the other? Apparently, plenty.

Clifton O'Neal at TransUnion credit reporting agency in Chicago notes: "Studies have shown a correlation between how people manage personal affairs and their job performance, especially if they're in charge of financial information."

It's a fact -- companies are going to snoop into your background.

Low rates forcing mortgage fee rises

According to a report from MoneyExpert.com, the cost of applying for a mortgage has risen by almost a quarter in the last 12 months alone. The research suggests that mortgage lenders are trying to remain profitable whilst at the same time provide market-leading products to customers when even the rates on bad credit mortgages are relatively low. The average fixed-rate home purchase loan arrangement costs £494, up 22 per cent, MoneyExpert.com says, while the arrangement fee for a discount mortgage currently stands at £407 – an increase of 15 per cent from 12 months ago. "Borrowers need to budget for application fees when they take out a mortgage," said Sean Gardner, MoneyExpert's chief executive. "What you believe is a cheap deal saving you, for instance, £100 a month won't look quite so good when you add on application fees." Mr Gardner noted that because the base rate of interest had remained unmoved for almost a year, mortgage providers were looking at new ways to maximize their profits on fixed-rate products.

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