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What's the best financial decision you've ever made?
(lemmy.world)
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this post was submitted on 08 Jul 2023
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Leaving my wife, She destroyed my credit and finances.In less then 2 years I have fixed both.
Congrats on turning that around so quickly!
Kept scores like it was a video game.
My country doesn't really work with credit scores, so I don't really understand it. How can you ruin and fix your score like that?
In the U.S. there's a system that reports all of your financial information to 3 different credit bureaus. When you make an owed payment late ,don't pay for something, apply for too much credit or just not even use credit your credit score shrinks. By paying bills on time ,having more available unused credit and just doing that overtime makes your score go up.This is a simplified explanation and I'm no expert ,but that's the basics of it.
The less you spend the better? Goes a bit against economic progress. But I'm probably not really getting it. Thank you for your explanation.
Sorry ,that was a broad explanation. Using only about 1/3rd of your available credit is a plus.no matter if that's $100 or $100,000. The other crazy part is the worse your credit is, the more things that require credit costs.So it's a bad cycle to fall into and helps keep people broke.
Left my ex four years ago now and I’ve got a 700 credit score!
She didn’t fuck up my finances directly, but she undermined my sense of concrete reality and filled me with enormous amounts of stress and I couldn’t do anything but hang on by my fingertips in my career.
Four years of active healing and it’s finally starting to manifest in my external life.
Good for you getting your head in a better place.Sometimes what we want the most really is the worse thing for us.
It was love at first sight, literally. We didn’t even discuss going out. The first day we met, we were together as a couple. I cannot emphasize enough that we did not discuss being a couple even a single word, but we both knew.
I ain’t doing love at first sight again. Fuck that.