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Credit: What's Love Got to Do With It?

Live, Laugh, Love. Three simple verbs, yet many have deemed them the motto of their life. I used to think it was pretty cheesy, but when I took a second to think of the deeper meaning behind these words, I realized it’s not such a bad motto to use.  So what does it have to do with your credit? Well, everything.

Live

First off, let’s look at where you live. It’s fairly common knowledge that great credit is vital in purchasing a home - especially these days. What most people don’t know, however, is that the need for good credit comes even before you’re ready to buy your first place. More and more rental applications are including credit checks too. My wife and I manage apartments as a side gig, and trust me, landlords have definitely grown more cautious with the economic downturn.  Most demand proof that you are financially responsible and will pay your rent. So regardless of your situation, now is the time to start boosting your credit score so you can live in a place you’re proud to claim home.

Laugh

Now let's look a bit more at how you live. Let’s face it, life can get boring and monotonous if we’re not careful. There are a million things to do in the world, but the costs only seem to be climbing. So how do normal people quit stressing and enjoy a trip to Disney World with the kids, Hawaii with some friends, or any other of the fun things in life without breaking the bank? Responsible use of a rewards credit cards. Of course you must first qualify for a card, and then remember to always pay off the balance each month so fees and interest don’t outweigh the reward points!  My wife and I have flown all over the world with huge discounts because we've responsibly used rewards credit cards.

Love

Yes, good and bad credit even affects your love life. In fact, finances are the leading cause of break-ups and divorces. Although they say money can’t buy happiness, a lack of money or a misuse of it can bring a load of stress and anxiety that is tough to withstand. Working to build your credit by using it wisely will begin to calm the storms of financial affliction and bring more peace into your life.

Regardless of your situation, as you focus on improving your economic future, you also show a deep respect for yourself and your loved ones. What's not to like about that? The truth is our credit scores are tied to just about everything in our lives.  Rather than think we are slaves to some random number, I like to remember that I have the power to change this score.  Not only that, but as I do make positive changes, I can live where I want, enjoy some of the finer things in life without going bankrupt, and prove to my loved ones that I care about their security. When was the last time you checked your credit scores?

 

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Joshua Heckathorn's picture

Joshua Heckathorn was President of Creditnet, is a credit expert and has been featured on CNNMoney, FOX Business, Yahoo Finance, The Street, and many other national publications during the past ten years.  He received a Bachelor of Science in Management (Finance) from Brigham Young University's Marriott School of Business and earned his MBA from Seattle University.

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