Back in the 1800s, merchants apparently got together to talk about people whom they felt were safe to give credit to according to Fox5. The same concept is behind your credit score rating today. So you should know that a three digit number is all it takes for creditors if they should loan you money at all. The list of creditors includes institutions offering loans such as banks and financing like auto dealerships. Credit card companies also look at your credit score rating.
Ideally, you'll want to have a credit score of no less than 700. At this score, creditors feel more assured that you would be able to pay them back. However, it's interesting to note that not many people take their credit score rating seriously. If you're one of them, then you should reconsider it now. Why? Well, it's because it can hurt you more than you think. In fact, it can affect your life in more ways than
Why It's A Big Mistake To Leave Your Credit Score With A Bad Rating
With a lot of people working hard to pay their bills, and often having no money left over for personal rewards, let alone substantial savings, putting extra money into savings can be a tough task to fulfil. However, it’s important to remember that even the tiniest amount — even if it’s $5 a month — will all eventually add up, and be better than nothing. Here are 4 tips to get you started on a better savings path. Get Out of Any Debt First There is no point planning to put money into your savings if you have a backlog of debt, no matter how small. Although any form of savings is a positive, it’s much better to use any extra money to clear debt in order to get straight with your finances and avoid paying extra due to interest charges. As soon as debt is cleared, the monthly amount you usually pay in minimum debt payments can then be a bonus for your savings pot. If any de 4 Tips for Increasing Your Personal Savings
Comments
Post a Comment