Your credit score is based on a formula that looks at your age, your amount of debt, and your record of paying bills since age 18. In many ways your credit score measures how much you can be trusted with money, so if your score is too low it will make your life difficult, unless you have oodles of cash in the bank and you can buy everything without a loan.

When I turned 40 my credit score was below average, in the low 600’s. I had too much debt as a ratio to my income and my debt was increasing over time. I bought some used Dave Ramsey paperback books on Amazon and read them from cover to cover.

If your credit is poor take a minute to go to Amazon and buy one of Dave’s books as a used paperback. Read the damn thing, and start changing your thinking about money. You’ll spent $6 to get a book that will help you save tens of thousands of dollars in future interest payments!

You can have low debt and great credit even if your income is low, it just takes discipline and time to get there.

I don’t have a credit card to my name, and that one factor alone insures that my debt is decreasing every single month. The only plastic I carry is a debit card, with a couple hundred bucks on it… and I’ve been using debit only for the last six years!

I’ve paid off over $300,000 in debt since I started reading Ramsey’s books. I now teach the class at my church…. my credit score went from low 600’s to 800 plus. I can now qualify for loans at 3% interest, but I don’t need any loans!

When you fix your THINKING your finances will improve. When your finances get better your credit score will get better and you’ll have MORE peace and less stress.

Hope that helps!

Ben Alexander

August 24, 2020