So far, we’ve spoken about the different types of debt and how you can start paying them down. Now, I want to talk about how others see your debt.
This comes down to your credit score. Your credit score can be affected by whether you’ve paid your bills on time, or if you have existing debt that you haven’t paid off. It’s important to know your credit score because this is how lenders will see you when you’re applying for a loan for property or anything like that.
I always wanted to have a good credit score to be able to borrow money for investing and wealth creation. So, I’ve had to keep a real close eye on things, especially since I used to have a credit card for discretionary spending which I’ve changed. Now, I make a point that I’ve got the right habits in place, somy credit score is as effective as it can be.
There are free places toe nquire about your score.Equifax lets you check your score for free once a year. If your goal is to apply for a home loan or an investment loan, then it’scritical to know your score now. If you need to change anything to boost your score, you can still do that.
If you had credit defaults in the past, there are solutions to get around that. So, if that’s you, just send me a message,and I can let you know some ways that might help you there
When was the last time you checked your credit score? Let me know in the comments.