Money is Power
Wealth means safety, options, and a good way to live. Are you ready to take the first step toward financial freedom? Jim Kemish, a credit repair expert, has some great tips that can help you start right away.
How to Save Money
A budget is a way to keep your income and expenses in line with each other. If your income is more than what you spend, you can feel good about living within your means. If you don't have enough money in your budget, a single unexpected expense could lead to credit problems. The first step to getting rich is to set up your budget so that you can save money. Savings will give you a safety net so that unexpected costs won't hurt your credit. As time goes on and your savings grow, you will see that you are moving steadily toward a life of confidence and financial freedom. And if you are working hard to fix your credit, a savings plan will help you keep the good credit you have worked so hard to get.
Priorities Change
Nothing makes you feel worse than finding out that you can't pay your bills. People who are financially successful have often been through hard times and turned their pain into a strong desire to change the direction of their lives. They made themselves look at their budget, live within their means, and put savings and investments at the top of their list of priorities. Over time, the change in priorities led to more money, more freedom, and a better quality of life that far outweighed the sacrifices they had to make.
How to Get Started
Look closely at your finances as the first step toward getting rich. Check your bank account and credit card statements. Where do you spend your money? Add up all of your monthly costs and compare that number to how much you make each month. Is there still enough to save? Examine your expenses. What don't you need? Every dollar you can save by cutting costs is a dollar you can save. Have you ever been upset because you couldn't pay your bills? Most people in programmes to fix their credit have felt this way before. Think about how that made you feel, and then think about how great it would be to have extra money every month. How much does that matter to you? I think you will find that being careful with your money is worth it for the peace of mind and the knowledge that you are doing the right thing for yourself.
How Credit Works
Credit can help you or hurt you. Some things would be impossible to buy without credit. Most people don't have enough money to buy a car with cash. But the credit that makes it possible to buy something can also be a problem. What kind of car do you want? When you see that you can upgrade for an extra $100 per month, do you know how that choice will affect your life? It might be a good idea to upgrade! But it should be done with a clear idea of how much it will cost. At a 5% interest rate, if you put $100 into a money market account every month for 5 years, you would have saved $6,800. $200 a month is the same as $13,600. It works out. There are a lot of choices that can be made in the same way. Buying a car or a TV on credit may seem like a small thing, but it can have a big effect on your life as a whole. In the credit repair business, we talk to smart people every day who have messed up their credit because they didn't think about how small decisions would affect them in the long run. Think about how much you can spend. Ask yourself how much it will really cost.
Your savings and credit
Good credit is one of the benefits of making a budget and saving plan. If your budget gives you enough room to save 1% of your income each month, it will be easy to pay your bills. And if you have to pay for something unexpected, that margin will allow you to do so without making you late. Do you help people fix their credit? This will change your life in a huge way. And this is just the start! As your credit gets better and your credit score goes up, you will find that your interest rates go down. This can affect all of your credit-based bills, including your credit cards, car loan, and mortgage. And your monthly payments go down when your interest rates go down. You get more for your money, so you can save and invest more of it. Are you all set? Do the first thing right now. You'll be glad you did!
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