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Credit Repair + Debt Elimination = 800+ FICO® Score Credit Report

Debt, Credit Rating, Credit Repair, FICO® Credit Scores, and Time Management

It is often said that the people who have the most time are those who are the busiest, simply because busy people tend to manage their time a lot better.  In most cases, the busy person is the one that has an excellent credit rating, FICO® credit score, and credit report.

Time is money and you need to manage your time as well as all other aspects of your life including your credit rating.

By managing your time well, you are controlling your life and this will flow over into all other areas of the day to day running of your household and your finances and will make the management of those factors considerably easier to achieve because you will have planned the time to take care of that aspect of your life, including any debt that may have been acquired.

Having the burden of financial debt, the stress of debt elimination and the necessity of juggling money from one place to another to cover costs here and there takes up a lot of time and this is lost time that could be used for other more productive purposes.

While you are getting your finances in order there will be additional time needed and that is something that you will have to accept.  However,  if you have a plan and a goal and you set yourself specific tasks to do throughout the day then you will find that you get a lot more done and you leave yourself some time to simply take time off and enjoy life.

It is essential that you do take time out even if you think you can’t afford the time or the money because maintaining a happy and positive state of mind and good health is essential for you to get to the next stage of the credit rating and credit report journey.

You don’t need to spend money when you take time off.  Often it is the things that cost nothing that will have the most benefits for you such as a walk in the park or a swim at the beach where you can forget about life a short while and think about normal things and where you might be a year from now.

Good time management will allow you to enjoy that part of your lifestyle which is enjoyable during this time of financial stress.

Dr. Robert Miller, Ph.D.
Investigations Analyst
www.TheCreditRobbers.com

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Credit Repair + Debt Elimination = 800+ FICO® Score Credit Report

Debt, Credit Rating, Credit Repair, FICO® Credit Scores, and Saving Money

At some stage of your credit repair and debt elimination, you will want to begin saving money to cover costs that will be occurring in the future; however, until you have paid off your debt that is costing you money in interest and penalties, it is not wise to save money.

You need to reduce and eliminate your debt thereby cutting off the drain on your income that is required to cover the interest associated with the debt; and by doing so you will be gaining a lot more benefit than trying to build up a surplus of funds in your savings account.

You will always earn less money from the interest of funds invested than it will be costing you for the interest you are paying on your debts.

Because of this, if you were to save money and not pay off debts it would be a backward step as it is in effect costing you the difference between the after-tax interest you could be earning on your investment money and the full amount of interest that you are paying on your debt.

In addition to paying interest on your debt, often you will be missing out on discounts for early payment of accounts and this is an additional ’saving’ in effect that you will be losing out on, by not making payments on time.

The best action you can always take is to reduce debt where possible unless that debt is associated with an income earning asset or something that you will make a capital gain on over and above the expenditure that you have to make on the interest by having that debt.

Once you have cleared all your debt then you can start thinking about making savings but it is not a good business decision to do that before the due time even though it might make you feel good.

Eliminate your most costly debts first, the rest of your debts second and then start saving your excess funds when all debt has been taken care of.  Your credit rating, FICO® credit score, and credit report will also begin to rise without fail.

Dr. Robert Miller, Ph.D.
Investigations Analyst
www.TheCreditRobbers.com

Contact Us: Send a FormMail Message

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