Savings and Your Credit Repair Victory
Making Your Choices Credit repair may very well eliminate most, if not all, of the derogatory information on your credit report. And if you are in a position to benefit you may even take advantage of...
Making Your Choices
Credit repair may very well eliminate most, if not all, of the derogatory information on your credit report. And if you are in a position to benefit you may even take advantage of the moment to refinance existing debt, lower your payments, and take pressure off of your budget. You may choose to live large with your extra funds. But if you are looking for real lasting results from your credit repair you must learn to channel your newfound budget surplus into a savings account.
Finding the Truth
Your credit repair success is hard won and should be respected and maintained. Many people make the mistake of believing that the credit repair process is a tool that they can wield at any time to erase their financial mistakes. This is far from the truth.
Long Term Success
Once you have cleaned up your credit report you should make sure to never let credit issues arise again. Regular credit monitoring is a wonderful idea, but nothing is more important than building a solid savings account. Savings is the foundation of long term financial stability, and will insure that you never lose your valuable credit repair results.
Learning to Save
Many people getting their credit repair process underway have a hard time starting a saving account, but it is largely a matter of adjusting your attitude towards money. Most people see money only as a medium of exchange for use in the immediate present. Money represents a new television, clothes, and entertainment. All of these uses of money are valid and excellent. But there is something else that money can buy that is worth learning to appreciate.
The Real Potential of Money
Money can also represent something less tangible than a new television, but infinitely more valuable. Money can mean security. And security can manifest as confidence, which in its turn can change the way we relate to the world around us. The goal of credit repair, after all is to become whole again. We need to start to see the value of money, not as means of acquiring more stuff, but of acquiring security and confidence, and the way to do this is through savings.
A New Way of Thinking
Imagine wanting to save money as much as you want to spend it. Your priorities would shift dramatically. Decisions would favor more conservative purchases, but rather than feeling deprived you would feel empowered. Your unspent funds would be put to a newly desired use in the form of a growing savings account. If you can change your mind, you can change your life.
The Secret of Success
Does all of this sound strange? Believe it or not, this is the way that successful people think. Building wealth is a frame of mind, a realignment of your relationship with money. Once you have managed to cultivate this new way of thinking your credit repair success is assured and you will be well on your way to building financial stability and genuine long term wealth.
Copyright © 2008 Edward White. All Content. All Rights Reserved.
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ABOUT THE AUTHOR
Ed White is a credit repair expert and financial consultant. In addition to his own private practice he consults for one of the nationís leading credit repair services. Ed is a graduate of the University of Pennsylvania and has a degree in economics.