Credit Score vs Debt: The Real Priorities for Financial Health
Hey there! In today's video, I'm diving into a crucial topic: credit score versus debt. I've experienced the ups and downs of having stellar and terrible credit scores, and through my journey, I've learned what truly matters. I'll share tips from a mentor about the importance of clearing your debt first, even if it temporarily hurts your credit score. We'll discuss strategies like the snowball and avalanche methods, the benefits of negotiating with creditors, and why it's essential to sell unnecessary items to get back on track. If you're worried about your credit score but drowning in debt, this video is for you. Let's focus on achieving long-term financial stability together!
00:00 Introduction to Credit Scores and Debt
00:03 Personal Credit Journey
00:43 Advice from a Mentor
01:16 Clearing Debt vs. Maintaining Credit Score
03:25 Debt Management Strategies
07:06 Long-term Benefits of Clearing Debt
08:23 Final Thoughts and Encouragement
10:18 Conclusion and Viewer Engagement
Пікірлер: 2
I absolutely agree with you. Some folks are focusing on the wrong thing. The budget and increased cash flow from paying off high interest debt is a path to stability and building wealth
@WakingUpDreams
Ай бұрын
Unfortunately it takes a lot of patience to see results which many don’t have and give up too soon and go back into their habits of spending more than they make all over again. Wealth building is a lot like trying to loose weight and takes constant long term effort and discipline.