• Mya K

Do you hate credit?

What words come to mind when you hear the word credit? I did a recent survey and 100% of the response were negative. Did you know that credit can have a lot of positives if it is managed correctly?

Credit is a tool

A tool is used to carry out a particular function, therefore credit can be vital to your life management tool kit. Here is a personal example. When I went through my divorce and needed to find a place to live, a strong credit profile gave me options. I could rent from anywhere as long as I could afford it and I was able to get utilities turned for the first time in my name. If my credit was shot, I would have needed to come up with more money for a large deposit down which I didn’t have but I did have a need of housing. A strong credit profile gives you buying power (this is not permission to go run up debt) and saves you money over time.

Credit is an asset

An asset is a useful or a valuable thing. If a strong credit profile has the power to help me manage life as I described in my divorce example, then you have to see credit for the asset that it is. Otherwise, I could have been stuck in an unhealthy situation because I would not have had all the extra down payment money just to restart my life.

Credit gives you power

Power is the ability to do something, to direct the course of events. I want you to have and know the power of credit. A strong credit profile will boost confidence and reduce stress during life’s challenges because you know if it boils down to having the power to do something, you have the tool and your credit is an asset to save the day. Can you think of a time when something unexpected came up and you needed to use credit and you couldn’t? I want you to think about how you felt. I want you to think about how it could have turned out if you could have used credit. How would the situation have been different? Could it have helped in some way? When you see the benefits of credit, it will help you to be more aware of it, and to manage it with care and in return it becomes part of your life management tool kit.

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