Managing your credit is an important part of your financial present and future financial success. I’ve put together some tips that you’ll find useful. Have a look.
Get the Facts – Collect all your bank, loan and credit information and go over the records carefully. Write down the monthly payment, debt amount, interest rate and term of each debt on a sheet of paper. Write down your total monthly income and list your estimated monthly expenses.
Do the math – Calculate your monthly budget and find a way to reduce your expenses so that you are saving 10% of your income each month. Apply these savings toward paying off your debts.
Be punctual – Pay all your bills on time. Late payments, collections, and bankruptcies have the greatest negative effect on your credit score.