Episode 18: It Won't Yours To Begin With Month Roundup

Hello everyone.  Today I'm sharing my relationship with debt and how I managed to save slowing to purchasing two homes.  We're also discussing what YOUR relationship with debt looks like and how to get this money right! You can do it you can do it you can do it!

DEBT: Borrowing money to leverage living additional expensive

  • Getting money with a catch

  • The Basics of Borrowing

    • You need something but have no financial ability to pay so you borrow money with a catch

    • Like saying it will cost you $500 to borrow $20 from me

    • The price attached with that is interest

      • Percentage of cost

    • Companies want you to pay the minimum balances- they earn more money

    • Interest Varies: Rate

      • Based on Credit History

      • Credit Score

    • Credit Score!

      • Based on history, a Report Card for your finances

    • Credit Score Breakdown

    • Credit Score Depends on the Following Factors:

      • Credit History

      • Payment

      • Debt

      • Credit Accounts Opened

      • Public Records

      • Inquiries

    • The Way to Begin Credit Repair is to look at the three Credit Agencies

      • Transunion

      • Equifax

      • Experian


    • Where to start paying back:

      • Debt has a priority on what to pay back

    • What impacts your Credit Score:

      • Settlements/Collections


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