Building or re-building credit…this is a topic that gets brought up on a regular basis as I Coach people regarding their finances.  Let me start by saying this is only my opinion based on my own personal experience and I’m going to just lay it out there plain and simple.  Quit worrying about it, don’t try to make it a priority especially when you are already up to your eyeballs in debt!

At the time of this writing I am 53 years old and until about 6 months ago I had NEVER even owned a credit card!  The only reason I have one now is that I can be disciplined to pay it off each week and I earn free money by using it.  There was a time, way back in my past, where my finances were a complete disaster.  WAY more month left over than money and to be real transparent, way more WEEK left over than money most of the time!  So you know how this works…late payments, late fees and all the things that go with that yet as I paid my way out of that I’ve never once been declined for a loan and never have I had an issue with my credit not being good enough.

All of that to say, if you are drowning in debt or maybe you are managing the debt there’s just a lot of it, either way don’t worry about building your credit.  I’ve had people who can’t afford the payments they have yet they want to keep a credit card to “build their credit”…NO!  Your main focus and goal should be creating a manageable payment plan and doing everything you can to pay off that debt as fast as you possibly can.  If you will do that, your credit will re-build itself and if you keep your bills paid and go on to being out of debt you will find your credit grows right along with the process.

So, don’t sweat your credit score – truthfully if you are in the financial shape that it has ruined your credit, you don’t need credit right now because you have no business buying anything via a loan!  I know this is blunt but this is too serious to beat around the bush and worry about feelings.  Zone in on getting your debt to a manageable level (and I can help you do that via one on one Coaching) and watch what happens. 

We can get a lot accomplished in an hour so if you’d like some help setting up your budget, tweaking your existing budget, or coming up with a payment plan you can manage email me at budgetwithcarla@gmail.com or send me a PM via facebook and we will get you on the schedule.