Tag Archive | “credit crunch”

How to Save Your Credit During the Economic Crisis?

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Are you having a bad credit shape? If yes, then don’t feel that only you are facing this problem. Right now it seems that the credit horizon is quite discouraging, but however it’s never a bad time to begin paying off your debts and raising your credit score.

credit-score-breakdown

Well today we are facing the credit crunch but it won’t last forever; if right now you take care of your credit, it will result in having an access to great rates after that the storm has passed away. You may follow the following tips for weathering the financial crisis and in order to keep your credit on higher levels.

You should never buy those things that you can’t afford.

During the credit crunch it becomes more important to pay down your credit card debt. If you are really willing to pay down or pay off your cards, then don’t charge more purchases that may sabotage your efforts. In order to purchase those things that are costly and still you want to buy them you must have to wait until your debt has dwindled. Also you should not fall prey to feelings of entitlement. May be it is tempting to buy things after a certain period of struggle, but before doing so; just once think about your financial future.

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September 2011
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