A bucket of water to save him… you throw a rope or preserver and yet… so many people will advise someone drowning in debt, get a credit card to improve your credit score!
A much better idea to improve your credit score is to deposit your check in a savings account in a bank that reports to the credit bureau, and then do a secured loan that you pay back in a very timely manner for at least 4 payments. You are paying yourself back, because the bank loaned you your money.
The credit bureau doesn’t see it as a secured loan. The best part is you are paying back yourself, and when you are through you will have some savings. Do this with 2 or 3 different banks and you will watch your credit score rise.
YOU DO HAVE TO PAY YOURSELF ON TIME! Don’t be late.
Yes it costs a little bit of interest, but nothing like credit card interest.
Nothing can create anxiety and stress in your life or relationships like financial difficulties.
It is one of the leading causes of divorce according to statistics.
This is a great way to improve your credit and get in the habit of saving.
It’s a great baby step toward financial security and peace of mind.
#financialpeace
#improveyourcreditnow
#financialstewardship
#peaceofmind
#barb_wittwer_coaching