6 Hacks to Keep Your Credit Score High

Hi all. Found an excellent article that I am sure many will relate to. Hope you get something useful out of this... 

With your first credit, no matter if it’s a credit card or a new home, you need to learn how to take all your finance under control. It’s a basic skill you need to gain not to get into debts. When you take out a loan, it’s necessary to understand that your monthly payments will be added to your regular expenses, so you need to consider the size of a loan. Such basic rules of debt management are important before applying for a loan. So, make sure you follow the next tips and your finance will be out of danger.

Control Spending

It can happen to be a difficult task for beginning, as you need to track all checks, credit, and debit transactions, as well as ATM card usage. But you will understand the importance of this step in the end of the month. It will be much easier to notice any inconsistency when you check everything on time.

Create Your Emergency Fund

It’s a good practice to save up to six months’ living spending making an emergency fund. This money will be much useful in case of any unplanned expenses or job loss. In such way, you will be able to avoid a necessity to borrow money and make your debts only bigger.

Cover Your Debts

Even if you don’t have money to repay all the debts at once, it’s essential to make the minimal payments each month. This won’t let you be buried under debts and keep your score on an appropriate level. If you can, it’s better to cover the full balance, so you will be able to be free of debts soon. For example, you can read how to choose your car loan considering your monthly payment ability.

Looks like really useful info, eh? Just click the link to find out more from the horse’s mouth! If you’d like to share perspectives or discuss how it relates to your business, call me on (0403) 296-221 or email me at [email protected]

Thanks,

Tammie