Women and Simple Things We Can Do to Keep Our Credit Good
Women are the root of civilization. Carrying the world on her back while nurturing the kids, caring for her husband, and continuously pursuing new ways to educate herself so that she can empower others is just the tip of the iceberg. With so much responsibility life can get quite complicated. One thing that doesn’t have to be is maintaining a healthy credit score. There is no need to outline the details of good credit and its many benefits. If, however, you are interested in knowing how to achieve and maintain it, then here are a few simple things women can do to accomplish just that.
- On your mark…
Before you can set any reasonable expectations of achieving or maintaining healthy credit you must first know where you are to begin with. Assess your current credit situation. Obtain your credit report and take the time to review it in detail. Scrutiny, judgement, and criticism may commonly be frowned upon amongst women but when it comes to your credit report this is exactly what’s called for. Take the time to inspect your credit report line by line. Search for any inaccuracies or errors that may be listed. If any such inaccuracies are found, exercise your rights by taking advantage of the dispute process. A woman’s credit report and score are a direct reflection of her choices and ability to handle financial responsibilities and obligations. By taking the steps mentioned above you ensure that yours reflect the woman you truly are.
- Get set…
Whether you are looking to make some necessary improvements to increase your credit score or you simply wish to maintain the score you’ve already worked so hard to earn through hard work and discipline, you will need to know where you stand financially. Get your finances in order by setting a budget for yourself. This may sound easy enough, however, living life with all of its unpredictability can be a balancing act for your bank account! The simplest way to counter constant cash flow crunches is to know how much you have coming in and going out each month.
Sit down and list all sources of income ending with a grand total of monthly available funds. Next, do the same for all expenses. Begin by allotting money to those expenses that are absolutely essential, such as housing, food, and transportation. Then add the non-essentials such as entertainment and shopping (as if these two are not one and the same!) as your budget allows. This may require you to make some tough decisions about what you can and cannot afford right now. The simplest way to decide is by prioritizing based on your personal values so you end up with a budget that truly reflects what is most important to you.
Now that you have reviewed your past, are becoming aware of your credit report, and have made a plan for your future by creating a feasible budget, the only thing left to do is to execute! Simply live according to the plan that you have put in place. Use the funds that you have carefully budgeted to pay your bills on time, every time. Payment history is weighted more heavily than any other factor affecting your credit and has the largest impact to your score. Be disciplined and do not sabotage your budget, or ultimately your credit, by living outside of your means. Remain aware of your credit report annually and address any issues in a timely manner. Protect your credit by being strategic about how and when you use credit. Remember that good credit is the reward for consistently good financial decisions.