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Can Paying Your Bills on Time Increase Credit?

Posted by Joe Wallace on Sep 3rd, 2020 · 0 Comment

Can paying your bills on time increase credit? The short answer is yes, definitely. But there’s a catch. Before we get to that, it pays to understand why paying your bills on time works to improve your FICO scores and earn you access to more credit. Learn To Think Like A Lender Many people are mystified by their credit–they don’t understand what makes their FICO scores rise or fall,...
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Protect Credit Scores: Keep Paying Your Bills During COVID-19

Posted by Joe Wallace on Apr 9th, 2020 · 0 Comment

Credit scores are more important than ever. The coronavirus pandemic and the economic impact of COVID-19 has caused millions of people to apply for unemployment, ask for mortgage relief, and take a critical look at their finances. But why should you keep paying on your mortgage and bills during coronavirus? There are some simple reasons, and all of them have to do with your future AFTER the outbreak...
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Here are some simple guidelines that will help you build wealth:

1) Do the math. Get a budget and calculate your net worth

2) Get an emergency fund. Save at least 6 months worth of expenses

3) Limit costs. Spend no more than 30% of your income on housing

4) Max your retirement. Maximize contributions to your tax-deferred retirement accounts

5) Pay yourself first. Set aside money for yourself before you take care of your other bills

6) Set goals. Goal let you get ahead faster

7) Avoid high interest debt. Avoid credit cards, title loans and other usurious loans

8) Diversify. Diversity your assets.

Can Paying Your Bills on Time Increase Credit?

Protect Credit Scores: Keep Paying Your Bills During COVID-19

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