December 23,2008
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Get Your Credit Rating Back, Pt. 4 –
– Welcome to a better life!H) Develop new lifestyle:
Lose all the drains. Theatre movies, dining out, impulse and discretionary buying, loaning money to those with draining attitudes, etc. This doesn't mean stop living. Discount movie rentals and discount fast-food deals (watch out for that soda that can take away all the savings) are OK. Remember, people that borrow are almost always living beyond their means and are probably living better then you sans their own money. Your best gift to them is to let nature teach them. Simply state that you have no money (truthfully, you really don't, till all credit cards are paid off and you're out of debt). Notice those around you who are already successfully doing this. They live well on only 65 percent of what you make. They're actually able to store away 10 percent of what you make for those larger costs that other people simply charge on credit cards. Even more, they realize the precarious nature of the economy and put away an additional 15 percent into an interest-bearing savings so they never run up credit card debt. Give up social memberships that require spending. They're everywhere and in your face. There are countless social groups that don't require money, check your classifieds.Once you're out of debt, you'll find a much richer life available to you, as you begin to build a solid credit standing. Disciplined credit is a good thing and the credit card industry has begun a whole new thrust on rewarding those they deem to hold a healthy credit attitude. No longer do they wish to drive people into debt so they can take advantage of those caught in the web. They study demographics now and watch lifestyles very closely. New government regulations have disallowed them from making ‘discretionary' changes to existing credit card accounts, so they're becoming much more select about gets the sweet deals from the beginning. Enjoy your new success!