If You Think Your Credit Is Safe Think Twice

 The 5 Factors that Affect Your Credit and How to Improve it

While being in the mortgage industry pulling dozens of credit reports monthly, I learned quickly what kind of person that was aware of their credit scores and what kind of person was not.

Below are the characteristics of both.

The Financially Smart Client

They knew their credit scores and everything on the reports. They are financially smart, well to do and owned assets. They lived well below their means despite their salaries and or net worth. They watched every penny they made and aggressively sought  sales promotions and discounts instead of paying full price for anything. They paid cash as much as they could to avoid paying interest rates of any kind.

Those are just a few characteristics of the Financially Well off Client

The J. O. B. Client

Just Over Broke Client  

They do not necessarily have bad credit but many times will. They never paid attention to their credit report which meant they paid higher interest rates on cars, homes etc. They were undisciplined about finances, spending and credit in general and many times in debt. 

They purchased expensive stupid things that lose its value quickly such as NEW cars.  This group tries to impress their friends and family with things that will surely have them living only on social security when they retire.

The bottom line is J.O.B's are undisciplined about their finances 

But the Financially Well Off care about every aspect of their finances even credit

The Government does not Watch Over your Credit

J.O.B’s are under the assumption that the government watches over their credit. The fact of the matter is your credit is only safe with you.

Credit agencies are not owned by the government, they are owned by publicly traded companies with real employees that make big time mistakes everyday, that will cost “YOU” literally.

Check Your Credit with the Importance of Your Bank Accounts

Credit agencies maintain files of millions of people, combine this with tens of millions of entries and what do you have, mistakes of epic proportions.

This is only one reason you must check your credit report. You must check for errors and correct information frequently and with the same importance of your bank accounts.

The 4 Hard Facts about Credit Reports

1. 5 out of ten people had negative information on their report.

2. Credit card companies with hold information on your credit files to stave off competition.

3. Major life events, divorce, medical issues, unemployment and identity theft are some of the main causes of bankruptcy and damaged credit.

4. Credit bureaus make mistakes posting incorrect data in over 40% of credit reports.

Whatever you do, don’t leave it up to some agency to monitor your credit

Get started on the first step to improving your credit

Step # 1 Get a copy of your credit report Its FREE

  

You can't begin improve your credit score until you know exactly what you need to work on. You have an option to get a copy of the three major credit bureaus. I suggest however to start with one.  Important note:  Most sites will try to charge a fee. But click this link below and get your report free! https://www.annualcreditreport.com/cra/index.jsp

Email and get your FREE 12 page work book.

I will start posting step-by-step instructions on what to do. Lets get started and improve your financial future TODAY. Click the link below and register TODAY.

EP

Sign up for a free credit course today; get your credit in good standing

Credit: The 5 Factors that Affect Your Credit and How to Improve it

In progress now

May 16- May 23 , 2011

Duration: 3 Weeks

Instructor: EPluribus Massey

Fee: Free

Sponsored by BenefitUAmerica

Location site: Click Link below TODAY and Register NOW!

http://benefituniversity.benefituamerica.com/creditfivecourse.html

Dropping the Ball can Create Problems in Your Life

Just wanted to share this quote which I think is particularly relevant in our current economic state:

“Imagine life as a game in which you are juggling some five balls in the air. You name them – Work, Family, Health, Friends and Spirit and you’re keeping all of these in the air.

You will soon understand that Work is a rubber ball. If you drop it, it will bounce back.

But the other four Balls – Family, Health, Friends and Spirit – are made of glass. If you drop one of these; they will be irrevocably scuffed, marked, nicked, damaged or even shattered. They will never be the same. You must understand that, and strive for it.” – Brian Dyson, former CEO Coca-Cola

Let’s take the family ball, for example; while two parents are putting in long hours at work, that family ball is starting to get harder to grip. You’re not spending quality time (or any time) with your children and they are beginning to exhibit behavioral problems at school, grades are dropping and teachers can’t control them. 

Additionally, you’re not spending enough time with your spouse, creating tension within your marriage.  One spouse says they are giving as much as they can to the family.  The other doesn’t budge because they feel they are the primary breadwinner.  This circumstance, day after day, is starting to erode your relationships with your spouse and your children.  The burden of your family life starts to trickle into your professional life.  Co-workers find it difficult to work with you and your job performance and productivity are going down hill.  You bring that work frustration home with you, which add even more stress to your family life.  As this cycle continues over time, it could result in a divorce and a loss of free will to see your children frequently.

As you can see, dropping one ball can create a multitude of problems in other areas of your life.  Not only are you spending less time with your children, you are now living on a one-person income as a single parent, trying to maintain a lifestyle that a dual income once supported. This is why you need to seek balance today!

How do you get balance?  How much time should you put into balancing your life?  Each circumstance is unique, and as you make an effort to give attention to all aspects of your life, you will know how much time you’ll need to allot.  It’s your life and your family; it takes time to get an idea of what will make everyone happy, content and fulfilled. You just want to get started today because the quicker you start, the faster you will figure out your personal balance equation.