Do you have bad credit? Are you hoping to retire someday, get a home in a warmer climate, and spend your days leisuring around golf courses, spas, and on cruises? If you are, you may want to get working on that bad credit right away.
Don’t be afraid to look for help when it comes to getting out of debt. There are plenty of options out there for credit repair services that can help you get your money and finances back on track. If you intend to spend your senior years enjoying life, you need to work hard now at fixing your credit by paying off anything that may be clouding up your credit report.
Start by Checking Your Credit Report and Credit Score
If you want to have fun once you retire you need to look into your credit report and score long before retirement is upon you. The earlier the better, especially if your credit need some work. You won’t be able to buy one home with bad credit, let alone getting that vacation home in Florida.
Find out about get help repairing your credit, and start building a savings account if you don’t already have one. Not only do you need a clean bill of credit in order to enjoy your retirement, but you also need to have some fun money. Retirement funds are a must, whether it comes from a savings account or a 401(k), or both.
Pay Off Your Bills
Don’t just deal with the bills that are already visible on your credit report. You also want to pay off your household bills, like cable and heat. Being behind on these bills, or getting shut off notices on a regular basis, can inhibit your ability to get these services at other places, like your place of retirement. If you do let this kind of bill end up on your credit report it could mean you’ll need a large deposit to get utilities hooked back up in your name in the future.
Cut Back on Open Accounts
It’s not just the never paid items that end up on your credit report, and affect your credit score. Having too many open money accounts can have a negative (or a positive) effect on your credit as well. These include loans, credit cards, and even credits through businesses. Keep these paid off every chance you get, and try not to have too many open at one time.
Open accounts in good standing can boost your credit. That means keeping them paid up on time, at least paying the minimum payment, and never letting them go delinquent. The better your credit the better chances you have of being debt free when it’s time to retire and enjoy that life of leisure.