Is Good Credit Worth the Effort?

One of the biggest hurdles that you’ll ever face once you’ve had a credit setback is not what you think it might be… It’s not that no one will give you credit because you have bad credit.  It’s not that you have to find other ways to pay for things because you can’t get credit.  It’s not even that your credit is keeping you from getting the job, the car, or the home that you want.  Those things might be a problem, but they are not the biggest problem.

The biggest problem that you’ll face when your credit score hits rock bottom is convincing yourself that it is worth the time and the effort that it takes to recover from bad credit.  That’s right, the biggest hurdle you’ll face is the one within.  You see, when your credit score really tanks, you start to think that you will never be able to get it back up to where you’ll need it to be if you ever want to be able to buy another car, get a different apartment, buy a house, or even change jobs because your credit is so low.

And, standing at the bottom looking up, it really does seem like an impossible task.  So, you start to wonder, “Why bother?  I’ll never get my credit score back on track.  Never be able to get another credit card.  Never be able to buy a new car at a decent interest rate.  Never get that house.  So why even bother trying?”   Sound familiar?  I’d almost be that everyone who has ever had their credit score bottom out has felt that way at one time or another.  And they are right to an extent – it would be far easier to simply give up and accept that your credit is bad and that it is going to take some time and effort to rebuild your score.  But has the fact that something is going to take a little time and effort ever really stopped anyone who has ever really wanted something?  No, it hasn’t.  And that’s why you cannot give up on your credit score.

Ask yourself these questions:

  • How bad do you want that new car?
  • How bad do you want that house?
  • How bad do you want that dream job?

And now, ask yourself this, how hard are you willing to work for it?

Just like anything else that you really want, rebuilding your credit takes work.  Sometimes it will be hard work, other times not so hard.  But you will find that, if you start right now, TODAY, and you work as diligently at improving your credit score as you do at every other thing in your life that really means something to you, you will get there.

You will rebuild your credit score.  But you cannot do that unless you actually begin.  Now.  Today.

So You Want to Buy a House

So you want to buy a house… you’ve decided that you can afford a mortgage, insurance, and the inevitable repair bills?  And it’s better to be building equity of your own than paying someone else’s mortgage, insurance, and repair bills like you do when you pay rent, right?

But, do you really know what it takes to buy your first house?  Have you really investigated anything other than looking at your “dream home” on the real estate websites?  If you’re like most first time home buyers, the answer to that question is a resounding “NO.”


The truth is, there’s a lot more to buying a house than just looking at homes, then going to the bank and getting the loan.  A. Lot. More.  In fact, getting your first house may very well be the hardest thing that you will ever do financially… you’ll find yourself digging for bits and pieces of your credit history, check stubs, tax returns, and so much more, just to get approved for the loan.  And you’ll need a lot more money than just the down payment that the bank asks for up front.  Trust me, it can be a long drawn out process, and you’re never really, really sure that it’s all going to go through until the moment when you finally sign all of the paperwork and they hand you the keys to your new home.  (And that, too, will happen eventually!)

So, what can you do up front, before you actually find the home, make the offer, and then go to the bank?  Well, first and foremost, if you’re thinking about buying a home, you need to start with your credit score. If your credit score is below 600, you’re going to have a hard time finding a mortgage lender who is willing to work with you, and if you do, you’ll likely pay a higher interest rate than if you start out with a credit score in the mid 600’s.

Don’t know your credit score?  Well, that’s the absolute first place to start anytime that you want any kind of credit, be it a mortgage loan, an auto loan, or even just a credit card.

Of course, there are lots of places where you can get your credit score for free these days, and most of them are really good, but sometimes to get your full credit report as often as you’ll want to while you’re in the process of buying a house, it’s better to pay for credit monitoring for a few months.  That way, you can keep a really good eye on your score, and if your score isn’t where it needs to be, you can check it frequently while you work on cleaning up your credit to get ready to buy the house of your dreams.