When I was in my twenties, I found a love for a champagne lifestyle… however I definitely lived on a lemonade budget, or so I should have! Instead, I borrowed money and did whatever I could to afford a night out – after all who wants to miss out?
I don’t great those experiences, I have some fantastic memories but it did leave my finances in a less than perfect state. A couple of years in London in my thirties probably didn’t help matters, but life is too short right?
There is nothing to be ashamed of in having a poor credit score, we all do what we do and live the best life for us. If you have a perfect credit score then that is great for you, but that isn’t for everything and that is okay!
One thing I would say is that if you do what to borrow money, no matter your current credit score – make sure you go about it in the right way! I have used lenders with questionable business practices in the past and that definitely hasn’t helped! What I would recommend is using a loan portal that lets you check your eligibility and match you to the best lenders before you actually apply, that way your application doesn’t affect your credit score if you do get declined.
There are different ways that you can look to improve your credit score. One way to do this is to get a credit card with a small balance. Use it for a few purchases a month and then when you get paid, pay off the balance. There are different credit cards out there recommended for improving credit score. However, the biggest piece of advice for this would be to make sure that whatever you spend on your card, you can afford to pay when payday comes around – otherwise you’re going to find yourself in a vicious circle!
Is My Credit Score Bad?
If you don’t know what your current credit score is, then make it your job to find out! The good news is that his doesn’t have to cost you anything! There are different ways to check your credit score for free. Once you know what your score is, you can start to read up on what this means for you and how your financial status could be affected. Then you can look at the methods you want to use to improve things.
Whatever you have done, try to think for the future. I am terrible at budgeting, and if I see something I want – I want it now! However, I am trying to be a bit more sensible and grown up (I know, about time right?) and think more towards the rest of the month – and beyond! That way, I know that the chances of getting myself into a financial crisis again are slim!
What money advice would you share if someone asked you?