Spread the love

Tomorrow is Valentine's day, and I'm super excited that Peyton is getting dedicated at church! Here's a shout out to my boo...love you bunches babe! - Since this isn't B96, I'm actually going to spread the love of financial advise! So happy Valentine's day to anyone reading.
If you didn't know, I used to be a financial advisor. I really loved my job, and I like to think I was decent at it! Since we're in a fresh new year, I personally am challenging TJ and I to up our credit score. (To be clear, it's not bad! I'm not being a hypocrite or anything, so chill.) Everyone can use a few more points, huh?
This is how your credit score is broken down: 35% of your score is your payment history (wow!), 30% is the amounts you currently owe, 15% is how long you've had credit, 10% is from how many times you have applied for credit, and 10% is your mix of credit. So obviously making your payments on time is essential for a good score. When it comes to the amounts you currently owe, technically (talking in terms of having a high score) you shouldn't be using more than 30 - 40% of your credit line. (EX: your credit line is $3000, don't charge more than $900 - $1200). The more of that credit line you charge, the lower your score will go. The best way and the quickest way to build up your score is to charge a small amount to your credit card each month and pay it off in full, leaving no rollover balance. If you have multiple cards w/balances or multiple loans, here's a tip for becoming debt free: PAY OFF YOUR SMALLER LOANS FIRST. I know, I know...people used to look at me all cock-eyed and say "well shouldn't I pay off my highest interest rate first?" Well, it's up to you...but I personally believe one feels most accomplished when they are totally getting rid of debt...so knocking out your small credit cards or medical bills first is going to light a fire under your rear end, and you'll keep going and going like the energizer bunny! It's a huge motivater. Trust me on this one! I've seen this happen soooo many times. So I'm challenging you to take the credit challenge with us...I guarentee if you follow my simple rules, you'll be sittin pretty (or a lot prettier) in just a few months!

RECAP: THE GOLDEN RULE: Pay all your accounts ON TIME.
Rule #1: pay off your smaller amounts first.
Rule #2: Pay off any and all collection accounts...remember, a charged off account looks better with a $0 balance!
Rule #3: Look at your freakin credit report people!! You can get it FOR FREE once a year. Do NOT pay for your credit report...forget that "free credit report dot com" song, they are a RIPOFF!! Go to the credit bureau sites themselves: www.experian.com, www.equifax.com, and www.transunion.com. If you want your score, you will have to pay a small fee, but the reports themselves are free.
Rule #4: Dispute any items on your credit report that you don't owe!! Don't you be payin your hard earned money to losers who made a mistake on YOUR report! If you need help disputing items, email me! Send me a message on FB! I'll help you.
Rule #5: Charge a small something on your credit card and pay it off in full when you get the bill. Keep a $0 balance on it from month to month. This is a sure fire way to really beef up your score in literally just a matter of months.