Do you enjoy paying more for products than they are really worth? What about buying a car – have you ever offered more than what the dealership was asking? Of course you haven’t! Money doesn’t grow on trees and if it did… I’d be at home tending to my crops!
It’s not in your best interest to pay more than you have to, but that might be what you’re doing if you have a low credit score.
Do you pay your bills late? Are your credit cards maxed out? Both of these can hurt your credit score. But with a good credit score, you’re more likely to be approved for a loan and receive a better interest rate.
Increasing your credit score is relatively easy, but it does take time. Follow these simple steps from Experian to become more financially independent.
- Make sure you pay your bills on time (or early) every time. Without fail.
- Choose your credit card wisely and use it judiciously. A little debt is good, a lot of debt is bad. If you are maxed out on your credit cards, quit using them and start paying them down.
- Open new credit accounts as needed. Don’t fall for those special in-store promotions, which “will only take a minute to apply for.”
Before long you will see your credit score begin to rise. And honestly, who wants to pay more than they have to?