We all know credit is a major asset to have in life! It is synonomous with giving someone your “word is bond” when borrowing something promising to pay back. Now don’t get me wrong, typically many people do well with their credit, however there are far more that do not. This is for the people that have moderate to bad credit. I’m a Dream Catcher so I take my personal finances seriously. I am also cheap lol, but that’s another story. I follow the financial advice of Tiffany “The Budgetnista” Aliche, she can be found on Facebook here https://www.facebook.com/budgetnista/?fref=ts. I surmised five important points for me and I hope they can help you.
- Get a secured card, if your credit is need of an adjustment. This will help build or establish credit.
- Make sure your utilization is below 30%. This shows you are a responsible user and you will not abuse the credit.
- Find a bill that you pay faithfully every month, and pay it on or before time with the credit card. Then pay the credit card to zero with the money you had for the bill in cash.
- Plan a budget. Typically you add up all your monthly expenses and subtract that from your monthly income.
- SAVE! It is very important to save because this is the mindset that builds wealth.
There are many other things you can do to fix your credit and make it a priority. These five tips are just a reference point, but I guarantee it will make a difference in at least 30-45 days.