Sometimes, it’s hard to look at our finances each month. It’s certainly a chore to review our debt to income ratio every week. Whether it’s that lingering student loan debt, crazy credit card balance or previous financial hiccup weekly credit checks can help you stay on top of things.
That myth that we’ve always heard, “credit is everything,” is somewhat true. It’s not everything but it does play a major factor in whether you get a fair car or home loan or potentially land that dream job. Credit can quite often make or break you. Here’s why I check my scores week…
Reviewing my debt each week motivates me to do something about my financial situation. It’s like that stubborn belly fat that sticks around after major holidays or celebrations. A few weeks after the parties end, our waistlines expand and clothes begin to fit tight. After reviewing the cause and effect it’s time to do something. So we hit the gym, pull away from the plate, and become more cautious of what we consume. We’re motivated to do better for our well-being. It works the same way with our finances. Checking the status of our debt and taking action is detrimental to financial health.
Helps Track Progress
Each week I log on to Credit Karma to see if there have been any changes reflected on my credit. I like to be able to see if my score has increased or declined. What I love about Credit Karma is they offer simulations to see how paying off a debt may affect my credit scores. Having access to my credit report helps me track where I am and how much further I have to go.
Keep your Eye on the Prize
My end goal is financial freedom. I don’t want to spend the rest of my life worrying about juggling a car note, mortgage, and outstanding debt. Work to live or live to work? I’ll take the latter! I envision a life living out my passion and purpose. Checking my credit score helps me to stay focused on obtaining financial freedom and pushes me to press towards the prize. I’d love to hear your thoughts on weekly credit checks?! Leave your comments and questions below.