What’s my Credit Score, which is the million dollar question? Really, it’s the million dollar question. The reason is your Credit Score could cost you millions of dollars over your life time. Your Credit Score could take two different directions, Good or Bad.
Let’s assume it is bad, and you have 3 kids. Depending on your age, this situation could really affect a lot of decisions that you would have to make. Let’s assume you need to borrow money, and because of your bad credit score, the interest rate is higher than the current market is allowing. This payment is around $150.00 more a month due to the higher interest. Your three kids, are no older than 9. You are thinking about there future because you want them to have a better life than you are currently. So you are trying to figure out how to save for there college. The extra $150.00 dollars a month you are paying because of your score could have been avoided if your credit was better. This money should be currently going into a tax free college fund for your kids. This is just one example of how matters can get out of hand, when you have bad credit. Typically this situation snow balls into every aspect of your personal life. $1800.00 per year towards high interest is not very appealing to me quite frankly; I think you get the picture now.
Maybe you have a high credit score, and as the result you are saving an extra $275.00 per month. Wow, that is a lot of money you could put into that tax free account for all three of your kids. We all know things could up sometimes because life changes, but knowing what to do is key. For every obstacle, there is opportunity. Most people don’t know there credit score, my advice would be don’t be most people. Your Credit is your Life, and could be your kids too. Never wonder what your score is again, be informed. If it’s not for you, do it for your family.
About the Author: Mike Clover is the owner of www.my720fico.com. My720fico.com is the one of the most unique on-line resources for free credit score reports, Internet identity theft software, secure credit cards, and a BlOG with a wealth of personal credit information.
