Credit Matters

 

As an accountant I started teaching what I thought was important. As I work with different businesses I notice not only do they need business consulting, they also need personal consulting. More people need basic financial education. Teaching how to read income statements, how to use financial ratios,  how to pay less taxes or increase business profits doesn't matter much if we do not know the basics. So I am going to list 3 things that is needed  to start your financial journey. Before you invest your time or money in people or a business you need to be doing these 3 things below. 

1.) Credit Repair

Your credit score is used to determine your future behavior based on the previous story your credit score shows. It is also used when you start a business until your business determines its on credit. Remember no credit is bad credit. You have to a credit history. So you shouldn't avoid getting credit cards or credit limits. You should learn how to maintain your credit cards and budget your money so you are not overspending.

2.) Budget 

Creating a budget will help you understand where your money is going. You will not spend just to spend. You know exactly when and how much you are going to spend. This will help us not live on credit lines. Sometimes we just charge cards because the money is there. Your budget will let you know if you have the money to spend. Spending more than 50% of your credit limit looks bad on your credit score. So imagine what spending 80% looks like. 

3.) Save 

With the proper budget we can set a goal to save. We most likely can save more than we actually do when we takes control of our money. Financial awareness is more about discipline than education. If you don't have the discipline to control your money, it will be difficult to focus on investing your money for financial freedom. 

I talk about these basics a lot. I believe there are important for the foundation of financial awareness. Some people don't know where to start in their journey and I would say increase your credit score to 750+, spend less and save more.  


I love finances but I love growth much more. My purpose in life is to help other woman see their worth, gain clarity, and most importantly build wealth. I'm proud to share this new journey with many. 

Check out this link for free tips to maintain your credit

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