Through Good Home Management
Know Your Credit Score
A good credit score can help you save thousands of dollars in interest. Your credit score is without a doubt one of the most important monetary symbols in your life. Knowing your score before applying for credit whether a mortgage or a credit card will give you a heads-up on what to expect in terms of the interest rate that will be assessed on your loan. Even if you are not applying for credit, check your credit score; contrary to popular belief checking will not hurt your score.
Get and Stay Organized
Missed payments to utility, mortgage, rental companies, etc. result in a bad credit score and increased interest rates. Open bills and place their payment dates on a calendar with an alert to make the payment on or before the due date. Decide how you will make payments, i.e. automatic withdrawals, online, or in-person and be consistent. Managing time may be difficult but it is important to carve out time to organize and pay bills on time.
Automate Bill Payments
Automatic bill payments are best for those who find it impossible to carve out time to go through their bills or who are unable to stay organized. Bills paid automatically online should be paid on or before the due date to avoid late fees which in the long run will positively affect your credit score.
A Pragmatic Approach to Saving Through Good Home Management
- Know Your Credit Score
- Be Organized
- Automate Bill Payments