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If you had to clean up your financial act and start over again, how would you go about doing so? What moves would you make for yourself?
Which steps would you take in order to get your credit perfect?

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Member Comments

    • +1 votes vote up vote up

      Jenz ~ wrote Mar 9, 2011
    • Hello?



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    • +1 votes vote up vote up

      UK Girl wrote Mar 9, 2011
    • I have no idea sorry as your credit thing is so different from the UK - here you need a land line etc as part of a credit check (no idea why)
      But have you thought of asking Ellen as she is the expert on this.



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    • +1 votes vote up vote up

      Jenz ~ wrote Mar 9, 2011
    • Is she really? Thanks! I had no idea.



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    • +1 votes vote up vote up

      Cathie Beck wrote Mar 10, 2011
    • I have had to start over financially and with a greatly reduced budget. I can’t control the cost of living going up, but I can put everything on paper to look closely at the situation and see where my money goes. I can change phone plans, which grocery store I shop at and conserve gasoline by being more organized in my errands. Cutting out all of the little nickle & dime costs that add up quickly is a big money saver for me. Not shopping on a whim is my #1 rule. I debate the purchase of everything to decide if it’s worth it long term or if I’m wanting instant shopping gratification to replace what I miss in life.  

      I needed to get credit in my own name boosted once the divorce started so I used a low limit inactive card to buy groceries with. I bought a new TV (26” LCD) on the card when the old analog TV on a converter box died, and I pay off the groceries and will add a bit extra for the TV. It leaves a balance, but not more than I can pay off with savings if I had  to. The credit limit on the card was upped with this stradegy.  

      I put it all down on paper a month in advance and refer to it often. I rearranged my auto insurance and internet service so I don’t have them coming due at the same time now. It is a cluster of Big bills that could drown me. And I pay attention to the billing period on my credit cards. I never pay just the minimum amount due, and I want the balance due to be do-able to pay in full at all times. This way I can buy a bottle of wine to take to a gathering of friends and not skip a beat in having basic necessities.  

      I hope this is helpful ideas for you.  

      Cathie



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    • +1 votes vote up vote up

      Mztracy wrote Mar 10, 2011
    • Yes, Ellen Day is the bomb with this kind of thing! heart



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    • +1 votes vote up vote up

      Tuliplady wrote Mar 10, 2011
    • I’ve had to start over financially when I divorced, but I was lucky that I had excellenet credit.   Not so much so now.

      Mainly, always, always, always pay your bills on time.  If you have some accounts you‘re always making the minimum payment on, try to make at least a little more than the minimum payment if at all possible.

      Like Cathie says, cut expenses where you can.

      Hubby and I are climbing out of a pit of debt accumulated thanks to his medical bills and our own carelessness.  It’s not easy, but it’s do-able.  

      You‘re not the only one going thru this Jen.

      I think my number one piece of advise would be to do your banking at the smallest most local bank you can find, the one where they might actually know you by name and usually have time to offer you advise if you ask for it.

      Tulip



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    • 0 votes vote up vote up

      Anne E wrote Mar 12, 2011
    • Hi Jen,
      I have had to think about this too as I have been working only sporadically for the last 2 years.

      My apartment manager lowered my rent by $200 a month when I got laid off,  I get all my books from the library instead of buying, I only give gifts to my 2 best friends, my daughter, and my 3 nieces and nephew. (No teachers, brothers, etc).  I put off haircuts and clothes until really necessary.  I’ve sold about $400 worth of stuff on e-bay.  I’m trying to get better about eating the food I buy and not letting it go to waste. We usually order takeout off the children’s menu-lots cheaper!  We found a home for one of our beloved cats because we really couldn’t afford three. Tried not to use credit card, but had to due to car accident, however, I pay more than the minimum.  Also don’t make many impulse purchases.  

      Good luck!  Everything will turn out okay in the long run!



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    • 0 votes vote up vote up

      Cathie Beck wrote Mar 13, 2011
    • Anne, that’s a good point about eating food bought before it goes bad. It kills me when I have throw something away! And I’m going to remember the children’s menu trick. ;oD Thanks!  

      I have to say to those wanting to eliminate use of credit cards... don’t stop unless you have a car or mortgage to pay regularly. We won’t develop good credit by not havinag any.  

      Cathie



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    • 0 votes vote up vote up

      Jenz ~ wrote Mar 17, 2011
    • heart

      I dont use C-cards. Zero debt in that dept for me.

      Its other things, getting caught up and getting the scores perfecto that Im after.



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    • 0 votes vote up vote up

      Jenz ~ wrote Mar 20, 2011
    • Thanks for all the great ideas. happy
      Im so obsessed with getting AWAY from being in survival mode that Ive always been in. I desperately need to be financially free and FREE to make ALL decisions that accompany that.
      Ive never had that before in my life and it is now at the TOP of my priority list.
      PLEASE wish me luck. estatic

      XOXO!
      J



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    • 0 votes vote up vote up

      UK Girl wrote Mar 20, 2011
    • Good luck as it’s always the best place to be - might mean getting your head down for a while and being thrifty but better to be like that and debt free or great credit estatic



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    • 0 votes vote up vote up

      Denise Richardson wrote Mar 20, 2011
    • The only true way out is to pay off ALL the debts one at a time, sorry but thats the only way, outside of filing for bankruptcy if the debts are huge.



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