September 18, 2019 by Jason J Channell
Want To Build Great Credit? Start With Great Financial Habits.
1. Pay yourself first - A lot of folks have talked about this point - including Robert Kiyosaki, Dave Ramsey, and George Clason, writer of the classic book, The Richest Man In Babylon. No matter how small, start to put money aside each time you get paid.
2. Pay off your smallest debts first - This is Dave Ramsey's "snowball method." Its a bit counterintuitive, but it works. Once you see yourself start knocking out devts, things really begin to speed up.
3. Set a budget - This is your foundation. Setting a budget will provide a guide for what expenses you have and how much income you have available to work with.
4. Find a way to increase your income - Even if its just a little bit. Making an extra $100 a week just to put towards debts or sdavings, can add up faster than you think.
5. Plan your purchases - Have a big purchase in mind like a car or home? Set a goal for the date and money that you will need to make reaching this goal more affordable. For better terms or qualification, many of these purchases may require down payments.
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