I’ve been sharing some of the key steps I believe to be most important in improving your financial situation. So far, I have gone over;
Step 1: Discover Your MoneyMind®
Step 2: Create a Spending Plan You Love
Step 3: Track Your Spending
Step 4: Stop the Leaks
Step 5: Create a Savings Plan That Supports Your Dreams and Goals.
Step 6 is to increase your credit score! This won’t happen overnight and it will most likely take some work, but having a good credit score could save a lot of money over your lifetime which will allow you to live a better financial life!
Getting grounded financially is a necessary step toward financial independence. To begin, you must know where you stand financially, especially in areas you may have been avoiding.
Here are a few suggestions to help you to become grounded financially.
You can do this online or by calling (877) 322-8228 or mailing: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. The three credit agencies are Equifax, Experian, and TransUnion. Each agency may list different information so you must look at your credit report from each.
There are other websites that can assist in obtaining the credit reports from all three agencies and most will charge a fee to disclose your FICO score. It is not necessary to know your FICO score when reviewing the accuracy of the credit report however some people enjoy seeing their credit score improve with all of their efforts to transform their financial lives. (Some credit card companies will list your FICO score automatically on your monthly statement for free.)
Check back regularly for more tips on how I can help you live richly!
References and Further Reading
Equifax. (2019). How Do I Get My Free Credit Report? https://www.equifax.com/personal/education/credit/report/how-to-get-your-free-credit-report/
Experian. (2019). What is a Credit Utilization Rate? https://www.experian.com/blogs/ask-experian/credit-education/score-basics/credit-utilization-rate/
United Capital Financial Advisers, LLC d/b/a Goldman Sachs Personal Financial Management (“GS PFM”) is a registered investment adviser and an affiliate of Goldman Sachs & Co. LLC and subsidiary of The Goldman Sachs Group, Inc., a worldwide, full-service investment banking, broker-dealer, asset management, and financial services organization.
The information contained herein is intended for informational purposes only, is not a recommendation to buy or sell any securities, and should not be considered investment advice. GS PFM does not provide legal, tax, or accounting advice. Clients should obtain their own independent legal, tax, or accounting advice based on their particular circumstances. Please contact your financial adviser with questions about your specific needs and circumstances.
Information and opinions expressed by individuals other than GS PFM employees do not necessarily reflect the view of GS PFM. Information and opinions expressed in this article are as of the date of this material only and subject to change without notice.
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