Week 6: Credit 101
Last evening we explored the importance of using
credit wisely. Review your credit use; Are you using credit wisely? If so how
and what measures will you undertake to use credit more wisely? What was your
number one take away from last night presentation?
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Hi. I have a credit score of 605 because I'm using 80% of my credit card balance. I owe about $19,000. I am working to bring the balance down by working a second job. The job will allow me to give an extra $400 per month to the credit cards. I will also save $200 for emergency savings and $200 for a home. I hope this will set me up to improve my credit score and bring down my balances.
ReplyDeleteHello Sheila, By making additional payments on your credit cards, you're taking a great step toward reducing your debt. Over time, this will also help improve your credit score. Keep up the great work—you're on the right track!
DeleteHi Sheila I am in a similiar situation, I am considering getting a second job myself to lower my credit debt.
DeleteI took the second job and it wasn't worth it. It's too heavy duty of a job. I would be killing my body doing that job. I quit the first day. I didn't want to kill my body fir minimum wage. I am back to looking for another side job that won't be so physically challenging. I wouldn't mind Catherine again. It's less hard than that job I lasted one day on.
DeleteI don't blame you at all for not tearing up your body for minimum wage. Some of the jobs you have to do way too much, and you're not getting paid enough. Your health is worth more than a check. You're going to find something you don't have to hustle as hard just to make money. Keep grinding, you got this!!
DeleteI’m also in a similar situation and trying my best. I think we all have the same goals and with the education that Eileen is providing we will meet it. We just need to stay on this path and be mindful of what we spend our money on.
DeleteMy credit is now low. A little more than 500. I owe less than 5g.
ReplyDeleteCredit card and vet bills are my debt
I had a discover card..my credit was a 700. But I was homeless when I totaled my car and so I used my card to fix my car.
DeleteGetting my life together the rest of the way is the only way I can pay everything. Im almost there 🤞🏻
DeleteJenna, I get it, life is hitting hard sometimes, but we do what we have to do. Don't even trip, 500 is not forever, once you get the bills down, less score is going to climb back up. You're already pushing through, just keep stacking and staying focused, and you're almost there.
DeleteJenna. You are amazing. Keep trucking along. You slowly will rebuild your credit and pay off your card. I believe in you. Keep going girl.
ReplyDeleteI believe I'm using my credit more wisely now by focusing on making the consistent payments to one place for all my credit cards equaling up to $25,000 which is now $11,000 because I've been peeing every two weeks. I'm also being disciplined by avoiding new credit offers, so I don't end up in the same situation again. My number one takeaway from the presentation was that credit plays a major role in almost everything you do, so it's important to protect and manage it wisely.
ReplyDeleteHI NIja, those offers are tempting and they seem to come when you most need it lol I definitely need to be more disciplined.
DeleteRight?! They are always popping up or coming in the mail. I have to fight the temptation, and stay focused on the bigger picture. It's hard, but it will pay off in the end.
DeleteGood job paying off your credit cards. You go girl!! Keep up the good work.
ReplyDeleteI feel like I'm actually accomplishing something now that I see the amount go down.
DeleteHi ladies, I have misused my credit an at a point where my credit score is super low. I have been paying off all of my small cc’s and trying to pay more when able to. I have also been doing a no spend month unless it’s on necessities. It has been causing a lot stress but trying to stay positive. I have also been picking up extra hours at my second job as well to try to help speed things along. I’m hoping with this course I can pay my bills and keep them paid off.
ReplyDeleteKeep going. You can accomplish your goals. Don't despair.
DeleteYou're off to a great start by paying off your small credit cards and working your way up that's the best way possible if you're trying to do it yourself.
DeleteHello ladies!
ReplyDeleteI have not been using my credit wisely.. since I have started this class. I have been more aware of my bad spending habits and trying to correct them.. I asking myself questions now before I use a credit card.. so I can hold myself accountable and changing my habits..
It's good this class has helped you be more accountable before you do what I did. My debts are super high. You can get better. Keep going!
DeleteIt's great that you're noticing and making better habits. You go girl. It's not easy but that's gross that you're making.
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