The Value of Good Credit

I’ll be honest with you. I, like many Americans, made some serious financial mistakes early in life that are now costing me. I made the mistake of thinking that I could make purchases on the credit card and make payments later. Well, it’s later and I’m still making payments!

While I’ve made significant strides at eliminating credit card debt I still have a little ways to go. Pile that on top of a car payment, mortgage payment, groceries and utilities and you can quickly realize what else you could be doing with that money that is going to the credit cards.

The important thing is that while I do have debt I’ve also got good credit, thanks to making payments on time and retiring some of my debt. Should the need for Emergency Loans at least I’m comforted by the fact of knowing that I’ve got the security of good credit. By that I mean that I could actually secure a loan if needed.

Understanding your credit score and how to improve on it is vital knowledge. You can do a lot with good credit but you’ll be in need a lot with bad credit. Make sure your payments are made on time and do your best to eliminate as much debt as possible because you’ll never know when you’ll need to accrue more.