Having a bad credit score is not the best experience. A lot of things go around your mind and you wonder the image it portrays to the world. Sometime you may become curious if it has something to do with your moral character.
I’m here to make it clear to you that it is not about your character flaws but it’s got to do with financial flaws. Sounds relieving? Definitely yes. You know a lot of people are struggling with self-condemnation and guilt and they simply can’t forgive themselves for the financial messes they’ve made.
Why Do People Relate Credit Score With Moral Character?
An excellent credit score is very significant and a bad credit score can indicate something like greed or gluttony. I mean, lenders view you as that person who just wants to receive money, but greed can’t allow you to pay back.
This is one of the possible things that can equate your credit score with your moral character. But I don’t think it’s always true because credit score is mostly related to your management skills.
You may find a very upright individual struggling with bad credit score, not simply because he is greedy but the way he manages his life and finances puts him into trouble. It’s got something to do with self-discipline. Are you able to stick to your set rules in life?
The reason I don’t think credit score has something to do with your moral character is that credit score is just but a figure. But the issue here is, your credit history affects your credit score.
So, the best thing is to ensure you pay your bills on time. If you have several credit accounts and you think you may forget the pay dates, set as many automatic payment accounts. With this, you’ll never miss a payment.
Keeping A Good Credit Score Is Important
If you are a young person reading this content, this is a perfect time for you. As you graduate from campus and start earning income, your credit history is got to shape your destiny in a great way. It is therefore important you keep an excellent credit score as you build your bright future.
It’s not complicated as you may think. It is as simple as paying your bills on time. Avoid missed payments. Late payments lower your FICO score. If your credit account is taken to collections, you lose points.
If you’ve got an emergency or unavoidable situation that hinders you from paying your bills on time, request your lenders to give you a waiver. Talk to them to forgive your bad records and make a point of keeping your dates.
In life, in as much as we have big goals to achieve, contentment is a great virtue. I don’t mean you stay in that comfort zone forever, but I simply advocate that you appreciate where you are today.
Appreciate every simple step you make in life. Don’t compare yourself with another person because you are unique in your own way. Borrow what you can afford to pay and bargain for cheaper interest rates to lessen the burden on your side.
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