If you could accelerate your financial literacy where would you benefit from it most? Would it help with your personal financial goals or could it help prepare you for development and growth personally as well as business. Many do have a clue as to how to clean up a credit report or build credit to a score that will not only give you your buying power back but the knowledge on how to leverage it.
The complexity of credit repair you must understand the basics which is credit is simply the ability to obtain goods or services through monthly payments verse paying the full price all at once. Your score determines your risk factor for future loans. Leanders want to know how risky a borrower you are from their perspective of loans prospects.
Equifax Trans Union and Experian are credit bureaus that provide information on loan accounts, inquiries, and utilization of credit. This information is electronically track through the bureaus above about every 30 days. Terms used in credit scoring and reporting and they are:
*Consumer- Person or business that purchase goods and or services for their purpose personal or business.
* Credit Bureaus-Electronically track your utilization, payment history as well as inquiries for new accounts.
A score of 800 or above is considered excellent making creditors confident that you will repay your future debts as agreed. Your behaviors can be reviewed in the future by others to determine your risk factor and most fall in the range of 300-750 or lower and it’s nothing to be ashamed of as long as your taking the time to educate yourself on the power of credit and wealth building principles to position yourself in a more positive light and gain your buying power back as well as save for those big things you desire as well as invest some to grow without you lifting one finger. Well, maybe one finger to select your stocks, and other investment options available to you.
When your doing it yourself here are key things to keep in mind as you begin. Pay your bills on time as this will count as your payment history. Be mindful to keep your utilization of cards in the 35% range and make sure to pay it back as quickly as you can. Limit the number of account inquiries to a minimum or none. Look at the type of accounts you have are they mostly department store cards or in case of emergencies cards and do you know the difference? How long have you gone with this line of account.
To learn more about doing it yourself in the privacy of your own home. Real Family Dynamics can help you get on your way. Through partnership with the Protection Plan Membership many of Americans have begin the journey to getting their purchase power back and learning how to build family banks to ensure they have all they need should something come up and they won’t have to use the funds that is in their direct account but their savings or investment accounts they set up to win.
Visit realfamilydynamics.com to learn more schedule an appointment to speak with an associate and decide if this is something that can benefit you, your family and or friends. Today it’s become imperative to gain financial literacy for ourselves and our children as they are our future and the better we can prepare them the better they will be and or mindful of poor behaviors that can bring upon debt stress and unnecessary worry when you plan properly.
We by law can’t guarantee any results as the result are based on each individual and their actions towards becoming better financially. Our mission is to help with tools, strategies and ideas that will provide you options of the best way to get started on building your financial portfolio. Any numbers reported are only for presentation purpose only as each individual is responsible for their own behaviors and actions when it applies to your finance’s building. We believe these strategies have proven to work for many and could possibly work for you should you decide to use the services. There’s no contract so you can end it at anytime but don’t quite to soon before your breakthrough or you miss the whole impact of becoming financially literate and building wealth principles.
We like to say it’s like wine, it get better over time. Americans are $6,000 or more in debt so I’m sure this information will be helpful for someone. Please share as our goal is to educate as many people that we can, remember each one teach one and never push another down only raise them up. Together we can do so much more to make the word a better place for all.