3 Ways To Quickly And Easily Build Your Credit
Improving your credit score is something that everyone would like to do. The trouble is that most people think that it is a complicated process. The reality is that building your credit is fairly easy and can be done in a pretty quick amount of time. There are 3 main ways to quickly and easily build your credit.
Attack Your Debt
The fastest way to improve your credit score is to pay off debt. However, if you don’t have the money to start attacking your debt then knowing where to start is very important. When paying off debt you need to make a list of your debts from smallest to largest. Then, start paying them off from the top of the list down. Once you pay off the top debt, take the money from it and apply it to the second debt. Keep doing this each time you pay off one of your debts. This is called the debt snowball and there is a chapter on it in my book Relax And Unwind.
Pay Your Bills On Time
Another great way to improve your credit score is to make sure you are paying your bills on time. Try not to only pay the minimum but pay the entire thing. It is important to keep all of them current and not carry a balance. Specifically focus on your essential living expenses. That means things like your electricity, water, heat, garbage, Internet, et cetera. Paying those on time every month will tremendously improve your credit score. Things like Cable, Netflix, Hulu, Data Plans, et cetera are not essential so try and cut out as many of those expenses as possible. This way you will have more money to use to pay your bills. Again, cut them out. That means stop paying them and cancel the service. You don’t need it.
Use And Pay Off Credit Cards
Credit cards are an excellent way to build credit. Makes sense doesn’t it? After all, it is called a “credit” card. Taking advantage of credit cards is a two-step process. The first thing you need to make sure of is that you don’t have a balance on your cards. If you do, then you need to stop using them immediately and start paying them off right now. Once you have them paid off you can start using them again. However, start using them to pay your regular expenses only. Things like gas, groceries, and your utilities are great things to put on your credit cards. The thing to make sure is that you pay them off every month. This way you will not only be building credit by paying your utilities, but you will also be building credit by keeping your credit cards paid off!
The End Result
As you can see, building your credit is easier than it seems. It will take some discipline and a little bit of time. As long as you make sure you are paying things off on time it will work. You need to follow through and make the choice to build your credit. No one else can do it for you. It is something that you have to do for yourself with the guidance of other people. Even with help, the bottom line is that you need to have a plan and stick to it. Do this, and you will successfully build your credit.
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