Take these 5 steps towards fixing your credit
One of the first steps to getting your household financials in order is to make sure that you take steps to fix your credit.
While there are reasons to get an online cash advance, there are an equal number of reasons to try your best to avoid it. On the internet, there are also a number of bad apples out there who do not do a good job of looking after your best interests. These bad actors may make recovering from financial whirlpool even harder
1. Check your credit score
Before you can fix your credit, you’ll need to know what you score is to measure. There are a number of services out there to check your credit score quickly online. Really though, you should stick with one of the main three credit bureaus in the US that report your scores. You can choose any one of them to get your score:
- Equifax – www.equifax.com P.O. Box 740241. Atlanta, GA 30374-0241. 1-800-685-1111.
- Experian – www.experian.com P.O. Box 2104. Allen, TX 75013-0949. 1-888-EXPERIAN (397-3742)
- TransUnion – www.transunion.com P.O. Box 1000. Chester, PA 19022. 1-800-916-8800.
You get one free credit report check per year, as mandated by the government. So, you won’t have to worry about shelling out money to get back on the right track.
2. Stop using credit cards to fix your credit
If you’re serious about fixing your credit, you need to stop the cycle of changing things that you cannot afford. If you’re worried about needing them for true emergencies, you can always freeze your cards…. literally.
Ideally you should take this to also mean stopping the use of online cash advances if possible. While they are good for an emergency, just like credit cards, they can get out of control if they are not properly used. There are also alternatives to payday loans that can help you get your finances in order.
3. Add up all your bills
Before you can make a budget, you need to have an idea of what all the bills out there are that you need to pay off. At this point, the numbers may be overwhelming. Just gather up all of your bills and write down what you need to pay off.
4. Make a rough plan
Budgets can be overwhelming. Since we are right now just looking at what to do in the present, we’re not going to worry about budgeting out all the little things. Just know generally how much you can set aside to pay off your debt and bills. One of the problems with waiting until the end of the month is that then you may not have any money left over for your bills. Instead, pay the bills as soon as you get your paycheck.
5. Spend only in cash
Multiple studies show that we spend less using cash and are at least more aware of how much we spend when we use cash. Use this mindhack to help get your financials back in check. You can go back to using cards responsibly and get off cash only after your finances are back in check.