Financial Wisdom & Credit

 


#FinancialFreedomFriday - #FinancialWisdom & #MoneyManagement is a critical balance at any age. The more educated you are about money, the more successful you will be in your financial life! 

#CREDITMATTERS. Credit is essential in most countries. Credit is a great way to leverage money. 

Having #GOOD CREDIT allows you to buy a home, car etc at low interest rates.

Having #POOR CREDIT puts you at a disadvantage. You may be disqualified to buy a home, car, insurance etc. If you do get qualified, you will get higher interest rates. You will pay double or triple what a person with good credit pays.

#CREDIT must be used wisely. Most people don’t know how to #BUDGET properly so they don’t manage their finances well. Here are a few tips to build or restore your credit profile and increase your credit score.

💰 Open 1-3 Credit Lines

💰 Pay Bills On Time Monthly 

💰 Pay More Than Minimum Payment 

💰 Pay Balance Down ⬇️ to 30% of limit

💰 Use Credit Responsibly

Note. A late payment on a credit card will drop your score 30-40 points. Set up your monthly payments on auto pay to avoid this.

Collections or charge offs will also drop your score and damage your credit profit! 

Donna Morton Morgan, CEO 

Women of Kulture, INC

Florida Summer Homes Realty

Inner VIBEZ Consulting 

Caribbean American Diaspora Alliance

#wordsofwisdom 

#financialwisdom

#financialfreedom 

#moneymanagement

💕

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