When determining what size monthly payment you can afford, you'll want to consider what other monthly expenses you have. Tangible expenses such as car payments, day care and utility bills, all play a role in how large a monthly payment you can afford.

There are also the intangible expenses or lifestyle expenses that you'll want to consider. Things such as dining out, travel and when you buy your next car can effect how much you can afford. Are you willing to curtail or delay some of these expenses in order to afford a larger monthly payment?

Never order a free credit report from a service that makes you use a credit card.

Congress has been closely watching the recurring nightmares resulting from Identity theft. Over the last year, through the Federal Trade Commission, certain parts of the country were given the ability to get a free credit report from the three large data collectors, Experian, Equifax and TransUnion. Analyzing your credit report is not only a great way to see if your identity has been stolen, but an effective way to manage your credit past and prepare for future credit needs.