Stressed out by debt? Feeling like your debt is too large of a hurdle to overcome? Maybe the solution is to take a Zen-like approach to repairing your credit. You may be surprised how a little bit of self-awareness can go a long way in helping you control your spending which may lead to a repair in your credit.
What Is Zen, and What Does It Have to Do With My Credit?
Zen is both something we are and something we do. It’s our true nature of expressing ourselves each moment and a disciplined practice where we can realize the joy of being. Mindfulness, at its most basic, means thinking before you act.
It is said that if you’re on the wrong path, events have a way of changing your direction. If you’re constantly spending beyond your means, being aware of your credit score may help put you back on the right financial track.
Zen and the Art of Debt Management
In the context of good credit, Zen can mean the feeling of lightness and peace you’ll have when you aren’t weighed down by debt. The path to good credit begins with four basic steps:
• Check your credit report
• Correct any inaccurate information
• Bring any late accounts current
• Pay down credit card and loan debt
In the old days, we were told that it’s wise to open a credit account, make a few small charges, and then pay it in full immediately. This same philosophy is true today. By ensuring you have a small enough balance to pay off each month, you can lessen the risk of outstanding debt.
Ever been advised to close a credit card account once you’ve paid it off? Think again! Companies want to see controlled credit card activity in order to classify you as a low risk user. Unfortunately, if you have used a large amount of your available credit, companies might see this as a more risky user.
How to Prevent Credit Troubles from the Start
Life happens ad some events are unavoidable. However, keeping your debt under control can definitely help in times of emergency.Don’t avoid credit, but don’t abuse it either. You should never buy anything on credit that will be used or consumed in less than a year. Don’t lose sight of your credit and
Furthermore, you should try to pay in cash whenever possible. It’s harder to overspend when actual money is leaving your hand.
We hope these tips will help you find your financial nirvana. If you need financial guidance, click here to get a free consultation on credit repair.