Fix Your Credit and Make Your Life Easier
In a world where your value as a productive member of society is based on how well you take care of your body as well as your finances, you need to build and maintain at least a decent credit history in order to have a secure footing now and in the future.
As with other tasks in life, it is not as easy as it sounds.
But is that really true? Are you unknowingly making things harder on yourself? If so, are there ways to fix that? The easy answer is yes, and these strategies from a credit advisor can assist you.
While credit cards may be the easiest way to build your credit history, it is also the easiest way to ruin your credit history if you are not careful.
The first thing you need to do is to pay your bills on time--this cannot be stressed enough.
In addition, do not just pay the minimum in an effort to save up for the next bill.
It then becomes easier to only pay the minimum every month, causing interest to build up more and more until you are unable to make any payments in time or at all.
From there your credit score will plummet.
You can improve your credit score by only using your credit card in case of emergencies or on equally rare occasions.
You can help this process by carrying cash with you and use that instead of the card; it allows you to both limit your spending as well as control your spending habits.
Besides your credit card, any outstanding loan can make or break your credit history.
Not paying loans, whether it is a student or mortgage loan, will also adversely affect your credit history.
Thankfully, you have a better chance of negotiating a lower monthly payment for either than you would with credit card companies.
An added advantage of student loans is you do not have to make payments right after college.
You can ask for a deferment until you have a job that will allow you to make monthly payments.
Mortgage loans are much tougher to negotiate but still not impossible.
You can ask for lower monthly payments in exchange for a longer loan.
In either case, simply asking will not hurt and will most likely get you on a better financial footing.
Improving credit is no easy feat, but it is achievable.
Your best bet: seek advice from a credit consultant sooner rather than later.
As with other tasks in life, it is not as easy as it sounds.
But is that really true? Are you unknowingly making things harder on yourself? If so, are there ways to fix that? The easy answer is yes, and these strategies from a credit advisor can assist you.
While credit cards may be the easiest way to build your credit history, it is also the easiest way to ruin your credit history if you are not careful.
The first thing you need to do is to pay your bills on time--this cannot be stressed enough.
In addition, do not just pay the minimum in an effort to save up for the next bill.
It then becomes easier to only pay the minimum every month, causing interest to build up more and more until you are unable to make any payments in time or at all.
From there your credit score will plummet.
You can improve your credit score by only using your credit card in case of emergencies or on equally rare occasions.
You can help this process by carrying cash with you and use that instead of the card; it allows you to both limit your spending as well as control your spending habits.
Besides your credit card, any outstanding loan can make or break your credit history.
Not paying loans, whether it is a student or mortgage loan, will also adversely affect your credit history.
Thankfully, you have a better chance of negotiating a lower monthly payment for either than you would with credit card companies.
An added advantage of student loans is you do not have to make payments right after college.
You can ask for a deferment until you have a job that will allow you to make monthly payments.
Mortgage loans are much tougher to negotiate but still not impossible.
You can ask for lower monthly payments in exchange for a longer loan.
In either case, simply asking will not hurt and will most likely get you on a better financial footing.
Improving credit is no easy feat, but it is achievable.
Your best bet: seek advice from a credit consultant sooner rather than later.
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