5 Ways to Improve Your Credit Score

credit score

Your personal credit score is your financial report card.  About 10 years ago, I really didn't know much about the importance about my credit score, but quickly learned when I went for an auto loan, my home loan and also credit cards.  The rates given offered to you could be influenced based upon your credit score or maybe the deciding factor of being accepted or declined.  If you ever plan on opening your own business soon or in the future, it is important for you to manage your credit score and at least know your score to take action towards improving it.  I have learned how to improve my credit score by using the 5 tips below and also monitor it in case anything changes or if suspiscious activities are being done with my finances.

For this week's "Friday Five", I am listing 5 ways to improve your credit score. 

  1. Pay your bills on time:  Ok, this is a no brainer, but when we don't make paying our bills high on our list of priorities, they can sneak up on you and cause your score to go down.  Once a late payment is recorded, it may take some time for it to recover, so it is best to be proactive and to schedule automatic payments and to set aside time once a week to dedicate time to manage your bills.  I now use online banking and bill payments with my smart phone.  I also set up automatic payments to save me time as well as my credit score, but still double check to make sure the payments are made.
  2. Don't max out your credit card:  If you have a limit of $5,000.00, having a high balance can reduce your score.  It is best to have you limit at aroun 20%-40%.  If have a high ratio, ask for a higher limit to lower your ratio and improve your credit.
  3. Correct Mistakes:  When I first viewed my credit report, I noticed discreprancies on them and had negative marks on accounts I never even had.  It is important to see your credit report and to see if things are correct.  You can file for an audit from the credit reporting agencies on their websites and they will investigate if the negative records are accurate.
  4. Don't close accounts that you don't use often:  Many people think that if they close out accounts they rarely use will help their credit score, it actually hurts you by changing your credit utilization.  Don't go out and start maxing these out as well, but keep the activity level the same if it is low and keep them open.
  5. Be realistic about your negative marks:  If you have the severe negative marks on your credit score, be aware of them and realize that you have to ride the 7 year life of these marks.  Don't let these marks discourage you to let things get worse and not manage your credit.  Ensure that you do know what your score is and to improve it over time with patience and placing importance on your score and learn from your mistakes.

Get a FREE copy of your Credit Score:

Free Audiobook: Brian Tracy’s 21 Success Secrets of Self-Made Millionaires

self-made-millionaire

Free Audiobook CD by Brian Tracy, "21 Success Secrets of Self-Made Millionaires".  Learn how to achieve financial independence faster and easier than you ever thought possible.

I really enjoy listening to audiobooks during my idle time and I always have a new personal development audiobook as I drive or listen while I am at the gym.  I have listened to numerous Brian Tracy's audiobooks and each one has given me pearls of wisdom and energized me with motivation.  Knowledge is truly power and when the offer is FREE, that just sweetens the deal.  The regular price for this audiobook is $24.95, but you can get this for free.  You only pay a $3.00 shipping and handling charge, but the information provided by this personal development guru is valuable.

In this 77-Minute CD I will teach you...

  • A step-by-step formula to become a millionaire
  • To set goals, make plans and get more of what you really want in life
  • There are no limits
  • Proven methods to build your own financial freedom
  • That YOU already have every thing you need to make your financial dreams come true

Plus...

-The truth about self-made millonaires
-how to overcome your fear
-priceless money management skills that will virtually guarantee you success
-effective goal-setting techniques
-helps you think in terms of "abundance"
-helps you create the life you desire in all areas
-and much,much more!

By applying these practical, proven strategies into your life, you will become a millionaire faster than you ever thought possible.

To get your FREE audiobook
Practice secrets used by millionaires

The Value of Developing Your Personal Brand

personal branding

We live in a branded world where we selectively choose what we consume, what websites we visit, company to work for, school to attend and the list goes on based upon the value of the brand associated with each. All of the major companies realize the value behind their brands and develop them with a passion. As a person, you are also considered a brand and the value of developing your own brand by using the same tactics used by companies can help you with your professional career, relationships and life.

Why is personal branding important? Well, consider the value of holding an MBA degree from Harvard or driving a Porsche. Each of these brands developed their brand to deliver a message other than just being a graduate school or just another car. We are all individuals with unique skills and features that personal branding can highlight and deliver a message based upon how you want the world to view you. People who have successfully applied personal branding for professional growth include such names as Donald Trump, Calvin Klein, Robert Kiyosaki, Ghandi, and the list goes on.

In our competitive professional careers, we need to make ourselves stand out and be selected for job opportunities and promotions based upon the perception of your personal branding campaign. Every person is capable of developing their own personal brand to stand. You can do this by constantly improving, adding relevant skills, learn and develop yourself and your image. The first step is to understand the value of your personal brand and to develop it into something that will help you progress in your career and in life.

Developing your personal brand takes more than just one evening and it takes some commitment to continually managing it and developing it as you progress. Take the first step by acknowledging the value of personal branding and make an effort to learn about personal branding and apply the tactics for you to position yourself for success.

I will be exploring this topic even more, please subscribe to receive updates on this topic.  Subscribe

5 Ways to Enjoy a Holiday Weekend

friday five

A balanced life is a life that is filled with all the joys you can obtain by striving for a balanced life. We all enjoy holiday weekends especially when we have 3 or 4 day weekends. This post will give you 5 suggestions on how you can maximize your time during these holiday weekends and make the most of your long weekend. Personal innovation is only a fraction of the overall successful life and enjoying time off is definitely a portion of personal innovation that I truly enjoy.

1:  Get your work out of the Way: If you do not plan accordingly and bring home work during the holiday weekend, you will not fully enjoy the extra time off for you to recharge your batteries and get the rest you deserve. You work hard and an extra day off for a holiday weekend is a time when you should put down your work phone, turn off the work laptop and just relax and enjoy. Work will be waiting for you on Tuesday, I guarantee you that, but extra time off will not always come around so enjoy it when you have it. Close out your most crucial work related items by end of day Friday, then shut everything off and return back on Tuesday reenergized and ready to work.

2:  Plan to spend time with Family & Friends:  We consume our lives with work and our dreams and at times leave our family and friends lower on our list of priorities.  During a nice long holiday weekend, make plans in advance with your family and friends to come over, have a bbq, have a picnic, do something together and dedicate your time and be fully there with them.  Make memories and catch up with the ones that truly matters in your life.

3:  Get Outside:  Most people worked holed up in cubicles or inside an office building during the months leading to a holiday weekend.  With an extra day or two, you can plan to go somewhere further than you would on a regular weekend.  Take advantage of this and go camping, explore the world around you, go hiking, biking and stay active.  Your spirit will be rejuvenated and you will really feel relaxed when you are in a setting that is surrounded by nature's beauty.

4:  Leave your worries behind:  You will not fully enjoy your time off unless you give your mind some time off from the stress and worries that consumes your mind.  Let things go and just enjoy the free time.  If you consume your time with just worries, then you will not really move forward and be recharged when the long weekend has ended.  You might risk burning out or feel unmotivated because your life is lacking balance.  Even our brain needs a rest, so have some self control and just plan to think of relaxing thoughts and enjoy your time.

5:  Enjoy your hobby:  If you have a hobby that you love and usually don't have time to commit to them, now is the time to really get into what you love and for more than just one full day.  The holiday weekend is a time for you to spend with family and friends but also remember to make yourself happy and give yourself time to do the things you really enjoy.

Enjoy your holiday weekend!