Americans Are Drowning in Debt? 60% or More(patreon.com)
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Americans Are Drowning in Debt? 60% or More
https://www.patreon.com/posts/debt-slavery-is-155080852
3 comments
I know a lot of people with excellent credit scores who are not in financial stress at all. A decade of using a credit card for groceries and such and paying it in full will do it and not make you a slave to anybody.
A decade eh? That’s all it takes! Geeze
I dunno how long it really takes. They didn't have free credit scores in the first decade I was paying off my credit card.
Time does help though, my score is "excellent" but my mother-in-law's score is even more excellent.
I will say that my parents taught me "take care of your bank account and your credit rating will follow" but for a decade after the 2008 financial crisis I have been so sick of all the spam online, masquerading as financial advice, that seems to think personal finance starts with: (1) avoid identity theft [1], and (2) use (many) "one weird tricks" to improve your credit score. I'm sure (a) somebody profits from this advice and (b) it is not the recipient!
[1] usually less consequential than the personal finance mafia would say, it's not like you are responsible for other people's fraud in the long term but if you are cleaning up a mess right when you are closing on a mortgage it can be costly... maybe I am hearing less of this talk these days because hardly anyone can get a mortgage anymore!
Time does help though, my score is "excellent" but my mother-in-law's score is even more excellent.
I will say that my parents taught me "take care of your bank account and your credit rating will follow" but for a decade after the 2008 financial crisis I have been so sick of all the spam online, masquerading as financial advice, that seems to think personal finance starts with: (1) avoid identity theft [1], and (2) use (many) "one weird tricks" to improve your credit score. I'm sure (a) somebody profits from this advice and (b) it is not the recipient!
[1] usually less consequential than the personal finance mafia would say, it's not like you are responsible for other people's fraud in the long term but if you are cleaning up a mess right when you are closing on a mortgage it can be costly... maybe I am hearing less of this talk these days because hardly anyone can get a mortgage anymore!