REBUILDING CREDIT SCORE WITH MONEY YOU ALREADY HAVE
The truth about credit that most people don't realize is this:
It's a magnified version of your money mindset and spending habits. Which means no matter how much money you have, if you aren't managing it properly, your credit will reflect that. IN OTHER WORDS, YOU NEED DISCIPLINE SIS!
Now you probably think I'm going to suggest a budget however comma, I am well aware that budgeting isn't for everybody, right away, so let's switch it up a bit.
To improve your credit score with the money you have you gotta stop spending your bill money. Here's how:
🧘🏽♀️ Adjust your mindset. You can do this! You deserve the benefits of excellent credit!
📌Make a list of the ACTIVE accounts on your credit report. (accounts with monthly payments)
📌Set up autopay for the revolving accounts with monthly payments less than $100.
📌For larger amounts, like auto loans/personal loans, break the monthly payment up in two (or every paycheck) to avoid having to pay a large amount of money at once.
Other things you can do:
💳 REDUCE YOUR CREDIT CARD BALANCES by 10% at a time. Make extra payments; no amount is too small. This ties directly into your Credit Utilization, which makes up 30% of your credit score or 165 points. I want to let you in on a secret that most don't know and arent talking about. Utilization works the same, whether your limit is $100 or $10,000. If you max out $100 credit card it can still do as much damage as maxing out $10,000.
🔍 LOOK AT YOUR MONEY! Budgeting makes this easier, ijs 😬🤷🏽♀️ If traditional budgeting stresses you out, start with checking your bank account more often. The anxiety of knowing money goes faster than it comes will naturally want you to close your eyes and ignore it but taking a peek will help you shift the way you see money slowly but surely. I know you want better for yourself, your family and your future. This is how you start. Open your eyes.
DEBT VALIDATION- A written request to a collection company asking for specific information about a debt the company is attempting to collect on. Should take place within 30 days of original notice but can be sent during any time of the credit repair process. Read this article to see FAQ's about debt validation.
CREDIT MONITORING- Pull your 3 credit reports for FREE using annualcreditreport.com or monitor changes and updates on a consistent basis for 27.99 monthly using Identity IQ.
CREDIT COMMUNITY- Looking for a place to fix your credit without breaking the bank? Join The Credit Queendom . Work with me and other Queens monthly to repair and rebuild your credit it a way that takes the stress out of the process. You will receive access to all credit courses, ongoing motivation and accountability to make sure you aren't in the same position 6 months from now as you were 6 months ago! I opened up a few spots for $10 a month. Get in here sis! THIS COMMUNITY IS FOR YOU.
That's all for this week! I will see you next week with more REAL tips to help you improve your credit.
Send me a DM me on IG and let me know what credit questions you have.
See you next week!! ✌🏽
Xo,
Coach Sakia
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