Home » Finance » Personal Finance

Have A Good Credit Score?

Jan 31, 2008
Quite a lot of people have a problem with keeping a good credit score these days because of the state of the economy and sometimes things simply are not the fault of the borrower. There are a few basic things that you can do to safeguard your credit score and make sure that you always get the best rate possible when you go to borrow money.

If you are living paycheck to paycheck every month like most people are, the first thing you will want to do is balance your budget and determine what expenses you have. Figure out what you need (need = really cannot live without) and discard the rest. Magazine subscriptions, eating out at restaurants regularly, going to the movies, casual shopping, junk food, and anything else you do not need to live should be discarded until you get your financial situation back on track. You may feel like you are sacrificing living for survival and you are, but sometimes sacrifices have to be made if we truly want to live our lives the way we want to later. Who really wants to live paycheck to paycheck and dodge bill collectors when you could sacrifice for a few months or a year or 2 and be where you really want to be?

After you get your budget figured out, stick to it. Make your bill payments on time and if possible, put any extra money you have into a savings account instead of spending it. This will help you out if you have something unexpected happen and would not normally have the extra cash to cover it. Try to build up a few months of extra income. It might be hard, but it will be worth it in the long run.

Try to keep your credit card balances under 50% for each card that you have. Each individual card should not exceed 50% of the card's total limit.

The last one is the most important. Never borrow more money than you know you can pay back. If your job is in a shaky state right now, like if lots of other people in your industry are losing their jobs, it would probably be a good bet not to borrow anything. Borrowing money now would be a bad idea, since not repaying any kind of loan on time can damage your credit record and it can take a long time before the incident goes away.
About the Author
Dror Klar is a writer in the field of finances and is currently assisting those in need of cash advances and payday loans, particularly in the state of California.
Rating:
Please Rate:
(Average: Not rated)
Views: 170
Print Email Report Share
Article Categories
    • Artists
    • Gambling
    • Humanities
    • Humor
    • Movies
    • Music
    • Photography
    • Tattoos
    • Television
    • Classic Cars
    • Motorcycles
    • Recreational Vehicles
    • SUVs
    • Trucks
    • Vans
    • Branding
    • Business Opportunities
    • Careers and Jobs
    • Corporate
    • Customer Service
    • Direct Mail
    • Entrepreneurship
    • Ethics
    • Financing
    • Franchising
    • Home-Based Business
    • Human Resources
    • Import and Export
    • Leadership
    • Management
    • Market Research
    • Marketing and Advertising
    • Negotiation
    • Network Marketing
    • Networking
    • Organizational
    • Presentation
    • Project Management
    • Public Relations
    • Small Business
    • Strategic Planning
    • Team Building
    • Telemarketing
    • Training
    • Data Recovery
    • Databases
    • Games
    • Hardware
    • Networks
    • Operating Systems
    • Programming
    • Security
    • Software
    • Spyware and Viruses
    • Ask an Expert
    • College and University
    • Home Schooling
    • K-12
    • Languages
    • Online Education
    • Psychology
    • Coffee
    • Cooking
    • Gourmet
    • Recipes
    • Wine and Spirits
    • Acne
    • Aerobics
    • Alternative Medicine
    • Beauty
    • Cancer
    • Cosmetics
    • Depression
    • Diabetes
    • Diseases and Conditions
    • Fitness Equipment
    • Fitness
    • Hair Loss
    • Heart Disease
    • Medicine
    • Men's Health
    • Muscle Building
    • Nutrition
    • Skin Care
    • Supplements and Vitamins
    • Weight Loss
    • Women's Health
    • Yoga
    • Arts and Crafts
    • Babies
    • Collecting
    • Elderly Care
    • Genealogy
    • Hobbies
    • Parenting
    • Pets
    • Pregnancy
    • Woodworking
    • Feng Shui
    • Gardening
    • Home Appliances
    • Home Security
    • Interior Design
    • Landscaping
    • Affiliate Programs
    • Article Marketing
    • Auctions
    • Audio
    • Banner Advertising
    • Blogging
    • Broadband
    • Domain Names
    • E-Books
    • E-Commerce
    • Email Marketing
    • Ezines and Newsletters
    • Forums
    • Internet Marketing
    • Link Popularity
    • Pay-Per-Click
    • Podcasting
    • RSS
    • Search Engine Marketing
    • Search Engine Optimization
    • Security
    • Social Media
    • Spam
    • Video
    • Viral Marketing
    • Web Design
    • Web Development
    • Web Hosting
    • Copyright
    • Cyber Law
    • Intellectual Property
    • National, State, Local
    • Patents
    • Regulatory Compliance
    • Trademarks
    • Buying
    • Selling
    • Baseball
    • Basketball
    • Boating
    • Cycling
    • Extreme Sports
    • Fishing
    • Football
    • Golf
    • Hockey
    • Hunting
    • Martial Arts
    • Running
    • Scuba Diving
    • Soccer
    • Swimming
    • Tennis
    • Dating
    • Divorce
    • Marriage
    • Weddings
    • Astrology
    • Buddhism
    • Christianity
    • Faith
    • Hinduism
    • Islam
    • Judaism
    • Meditation
    • Metaphysical
    • New Age
    • Cable and Satellite TV
    • Cell Phones
    • Communication
    • Gadgets and Gizmos
    • GPS
    • Satellite Radio
    • Video Conferencing
    • VoIP
    • Addictions
    • Coaching
    • Goal Setting
    • Motivational
    • Stress Management
    • Time Management
    • Clothing
    • Electronics
    • Fashion
    • Gifts
    • Jewelry
    • Causes and Organizations
    • Environment
    • History
    • Holidays
    • Men's Issues
    • Nature
    • Philosophy
    • Politics
    • Women's Issues
    • World Affairs
    • Air Travel
    • Camping
    • Cruises
    • Destinations
    • Outdoors
    • Article Writing
    • Book Reviews
    • Copywriting
    • Fiction
    • Non-Fiction
    • Poetry
    • Quotes
    • Screenplay
    • Tools and Resources