It's Monday Motivation!

With today also being Cyber Monday.

The Monday after Thanksgiving were most retails have sales online to boost

sales.

It got me to thinking about building your credit.

Building Your Credit

Building your credit starts

with paying your bills on time.

This includes the bills that

don't show up on your

credit report.

December is a good month

to make sure that you pay

all your bills on time

going into the new year.

Many of our bills have a

grace period before they

are consider late.

I would play this game when I was robbing Peter to pay Paul.

This was a very bad habit to get into.

Now I use a budget from YNAB (youneedabudget.com).

I have all of my due dates so that I can pay my bills on time.

Building your credit means using a small amount of your available credit each

month.

When you are using your credit cards using between 10-20% of your credit

will help you improve your credit score.

It shows that you are able to manage your credit use.

The amounts you owe counts for 30% of your credit score.

When building your credit you should avoid applying for multiple new lines of

credit in a short period of time.

Applying for credit this way can crash your credit score.

You should only apply for necessary credit every 6 months to a year.

So beware of the in-store credit card offers just for the savings.

Building your credit requires that you take a frequent look at your credit

report.

You can go to www.annualcreditreport.com for a free report once a year.

How are you building your credit today???

Your Financial Coach,

Renee Lawson