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Practicing good budget and spending habits now could help you rebuild and maintain a good credit report and score in the future. Here are a few ideas that may help prepare you for takeoff.

10. Settling Credit Debt
If you are working with a debt settlement program you are taking an important step in your journey to financial freedom. Throughout your program, try to think about how you can change your spending habits.

9. Monitor Your Credit
You can obtain a free yearly credit report from Equifax, Experian and TransUnion, by going to You should be aware that your credit report does not include your credit score. Your score results are optional and are subject to a fee. If you find errors on your credit report you should contact the appropriate credit bureau immediately.

8. Consider Wants Vs. Needs
Define the difference between a want and a need. Sometimes this could help you clarify the weak spots in your budget.

7. Don’t Be Afraid To Say, “I Can’t Afford It”
To avoid unnecessary purchases, consider leaving your checkbook or credit cards at home. Try to use cash as often as possible. Leaving extra accounts, handwritten passwords, social security cards and other items with personal information at home will also help you avoid identify theft.

6. Keep Credit Debt Down
If you do have credit cards, loans, etc. try to avoid high balances. suggests keeping your balance less than 50 percent of the credit limit.

5. Avoid Late Payments
Paying all bills on time, including fines or non-credit card bills, may account for almost one-third of your credit score. Also, your credit payment history accounts for about 35 percent of your score so try not to skip payments.

4. Avoid Taking Out New Credit
Your score takes into consideration how often you apply for credit. Multiple applications could have a negative effect on your score.

3. List Your Goals
What do you want to obtain at the conclusion of your financial journey? Try not to stray from your path by spending on things that can be postponed until you can pay cash for them. It may help to visualize your goals. You may want to find pictures or positive quotes that remind you of your objectives and post these items someplace where you can see them often.

2. Create A Budget
Once you visualize your goal, it may be easier to make a budget. Try writing down everything you spend money on and then cut out any extras. If possible, allow a few extra dollars for an occasional inexpensive treat when you stick to your budget.

1. Be Patient
Keep in mind that any goal is worth working and waiting for. Continue to research ways to improve your spending habits and future credit score. You may want to check out which shares credit score tips and information.

Now you have the groundwork to reach for the stars! Strive to practice better spending habits as you work toward financial freedom.

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