Money Talk: Credit Scores – The Good. The Bad. The Fixed

Thank you CreditRepair.com for sponsoring this post. CreditRepair.com’s team understands that a credit score is not just a number; it’s a lifestyle.

Can we talk money for a sec? If you’ve been following along for a while, you know that talking about financial empowerment as a woman, wife, mother, and CEO is INCREDIBLY important to me that I don’t think is talked about enough. 

So let’s rip off the band-aid and chat about your credit score. Sexy I know. Do you know what it is? Do you know your S.O’s? If you don’t, it’s like living with an eye mask on. You have no idea what you could be encountering and you don’t if there’s a pandora’s box of not-so-cute things that will haunt you when you buy a house, have a baby, etc. 

Let’s TACO Bout Credit. Shall We?

Eddie and I grew up with different credit mentalities – not unlike most couples – and it’s impacted us separately and we have established clearly what our approach is as a couple and what we will instill in our sons, so here it is from him and her:

Hers

Here’s the thing. Before I even knew what a credit score was, I had my Dad in my ear telling me cash is king and your credit is the key 🔑. Mess your credit up? You can make your life an upward battle unnecessarily. What the hell does that mean when you are 16 years old? 

• Don’t spend more than you have
• Pay your bills immediately
• Don’t put too much on your credit card 
• Save and invest
• Work hard, save hard, play hard

One of the best things my Dad did for me and that we will do for the Twins is he added me onto the credit card account to establish credit at the age of 16. He was liable for the payments, but it made me understand that once I graduated and had a job, in order to maintain that spectacular credit score I had inherited, I had to keep the cycle going. Pay them first, save whatever I had leftover. 

So this isn’t a story about idealism, so let’s jump to Eddie with a giant asterisk ** that this isn’t a knock or burn on him, it’s just the fear of God that was instilled in me, he learned the hard way and we hope that sharing this with you will keep you thinking about yourself and what you have to tell your kids.

His

Remember when Best Buy would say you can buy insert TV/Playstation/Xbox here for $0 down and pay later? And you ask yourself, “who the hell would buy into this nonsense?” Me. I did. At age 15, because I didn’t know better. Oh and it didn’t stop there. I opened my first credit card at age 15, because my Mom wouldn’t lower my car {don’t get me started with who would give a 15 year old a credit card – a conversation for another day}. 

Here’s the thing. Since the age of 15 I had a job and I was r o l l I n g in it as any 15 year old does making $8.50 an hour, right? If you don’t have the guidance then you don’t know what you don’t know, so I ran with it. I ran with it all the way until I ran myself – unknowingly and naively – into a deep pit of debt. Unfortunately, I missed the boat on it and would go on to sign up for loans [both education & otherwise] and credit cards over the next couple of years without really understanding the consequences. Eventually defaulting hard on some.

Fast forward into my 20s, in college and thankfully a bit wiser.  I had done so much damage. I wasn’t even able to sign for simple things like a car or education loan without a cosigner. Not really a good look with my score dipping into the 550s. I worked several jobs, sat on the phone with credit card companies and wish that I had had a resource to help me at the time, but didn’t know of one. 

For a lack of a better term, I’m a reformed credit man who has a humble brag score of over 800. I had to learn the hard way, but will make sure the twins don’t, because this is the kind of life lesson often lost amongst the sporting events, birthday parties and the excitement of everyday life. It’s a mistake that my children will learn from. 

Credit Repair

So now what? Before we were married, we looked at CreditRepair.com not to repair Eddie’s credit {at that point he had it back in the high 700s woot woot!}, but rather as a resource to make sure we wouldn’t find any skeletons later. We’ve used them throughout the years to ensure our collective credit rocks. 

If you don’t know, CreditRepair.com is a leading provider of credit report repair services in the United States. Their team of professionals are trusted leaders who have helped over 550,000 people repair their credit scores! If you’re finding yourself where Eddie was at the beginning of his credit journey, the good news is that credit scores are not written in stone! But, they also won’t fix themselves. If you want to achieve those financial dreams, you have to take a good hard look at your credit history and make the necessary positive changes. CreditRepair.com can help you do that – they’re committed to empowering each and every client to achieve the credit scores they deserve.

When I was 23, I leased my own car on my own and at 25, we were able to buy our first house. That feeling felt incredible and we want the twins to have that too. Again, please ask the questions, handle the problem because credit repair will guide you to get the car/house/LIFE you want which is extremely important. 

What’s your credit/finance tip?

Till next time, 

P

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