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About Me |
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Those who know me have heard me talking about the benefits of becoming debt-free and buying everything with cash. I could
literally hear so many voices yelling about how it is impossible to do it (a belief that I once had) and arguments for the need for credit.
I agree . . . in part. Although you should not buy on credit, you must have a good credit score in our society. After all, we live in a society built on credit where we are nameless and faceless numbers in a lot of databases. We don’t even get to know our neighbors very well these days, let alone expect the credit manager at a bank to know us personally. In fact, you can’t even open a checking account without the bank first running a credit check on you. I was shocked. “I am going to give you my money to hold for me, and you want to know if my credit is good enough for you to let me let you hold my money??”. Amazing, but true. These days it should be YOU who are asking to see the BANK’s credit score!! Good luck trying to buy a house for cash! Trying to rent an apartment? If you don’t have decent credit, forget it. They’ll make you pay first, last, plus a security deposit, and your first born child. Another point of frustration I have is that when you have no debt and are using no credit, your credit score GOES DOWN! So, the more responsible you are in managing your debt (by having none), the riskier the credit companies think you are! You will need to find a balance between reducing your debt and managing your credit in such a way as to maximize your credit score. In my younger days, I was the King of Stupid when it came to Money Managment. I even bought a condo just before the condo market crashed and I owned a $30,000 condo with a $75,000 mortgage! While there are definitely bad money decisions that I can definitely own, there were some things that I had no control over. Yep, 9/11. After the Y2K Tech Boom, tech jobs were slim and none, and after 9/11, slim left town! My business shut down due to lack of clients, my debts increased, and I started putting everything on my credit cards (hoping for a turnaround in the economy). Before I knew it my credit cards were maxed out, my retirement fund was empty, I had a bankruptcy, and a foreclosure on the horizon. Things were not looking good and my credit report was looking even worse. I wasn’t back to ‘square one’, I was at square minus one when it came to reestablishing my credit and getting out of debt. Something had to change! I spent years learning what I needed to know to reestablish my credit and getting completely out of debt. I learned all about what I needed to do, made a plan to do it, and then I did it! I kept a journal of what I did that worked (and what didn't), and documented all of it. I then took all of this documentation and wrote a little eBook about how others can learn from my experiences, get themselves out of debt, and restore their own credit score. I then wrote articles and gave lectures to small groups about my journey through financial redemption. I would also assist friends and family members on how they could also get out of debt and restore their credit. Eventually I started a Financial Coaching business to provide assistance beyond just my friends and family. This is coaching from someone who has 'been there and done that'. From someone who has probably made more stupid financial decisions than you could ever think of, and has created the success to be able to advise others on how to recover from their own financial mistakes. You CAN Be Debt Free, and Feel Financial Peace of Mind. As the car advertisements say, “Your mileage may vary”. No two people’s situations are exactly alike, and what works for one person may not work for anyone else. However, I do believe that based on my experience, everyone can improve their financial situation. I would love to be able to guide you on your own journey to Be Debt Free. |
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Begin your journey to Be Debt Free Click Here To Schedule Your No-Cost Financial Wellness Checkup 
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Follow Me:
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coach@be-debtfree.com 727-FIN-TALK (346-8255) FINancial TALK |
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