Get A Free Credit Report From Freescore Today!
Do you know what the first step is in resolving your personal finances?
It’s finding out exactly what your financial situation is.
Don’t laugh. When Susan and I began this journey to our financial freedom, we didn’t really understand our money.
We knew that more money went out of the house than came into it but we never knew why.
So, we did two things. The first was to start a budget, and Susan has written about how you can do this easily and without an accountant.
The second was to find out our credit score.
Why Our Credit Score?
Well, while you can certainly work out what your incomings and outgoings are and then take action to move them around or influence them. You can’t know how your bank and the banking system, in general, see you.
This matters because if your credit score isn’t all that great – it’s going to cost you a lot more to borrow money (if you can borrow at all) than it will cost somebody with a good credit score.
This changes your financial options and how you should approach getting rid of your debt.
Want The Good News?
Your bank will charge you to see your credit score but you don’t really need to pay. Firstly, each of the major credit agencies must give you a copy of your credit record on request, for free, once per year. So, you can get some data for nothing there.
Then you can use a service like Freescore 360 to get an estimated credit score for free too! That won’t be exactly the same as the score your bank gives you – but it will be close enough and that’s fine to get you started with sorting out your finances. So what are you waiting for?