Credit Goals for 2017

January 24th, 2018 | Author:

[A]s the year draws to a close and you look forward to 2017, you may start thinking about goals to set for the next year. Depending on where you are today, your goals may look quite different from someone else’s. Regardless of whether you have good or bad credit, you need to set goals to make 2017 your best year financially.

Goals for Bad Credit

If you have bad credit, your goals need to focus on making improvements in your financial situation. Some good goals to set would be:

• Get caught up on any late payments
• Pay down credit card balances
• Work on paying off collections
• Get a credit card

Notice that none of these goals said anything about improving your credit score. You don’t have complete control of what score you’ll have, but you can take actionable steps to improve it. These goals are things you can do.

Goals for Good Credit

If you have good credit, you want to keep it. You also need to set financial goals to make your life better. Here are a few suggestions:

• Pay down any credit card balances
• Start an emergency fund or add to it
• Start a long-term savings account or add to it
• Invest for retirement

Even if you have good credit now, an unfortunate event like a job loss can have a negative impact. You need to work on improving your financial security so you can continue to enjoy good credit. Having a savings account and reducing the amount of debt you have are worthy goals as well as investing in the future are worthy goals if you have good credit.

To make your credit goals work, they need to be specific and achievable. You should set a timeline for each goal so you know when to review and make sure you are on track. If you set the right goals and work towards meeting them, the end of 2017 will be even better for you financially than the start.

Newest Answers

What You Need to Know about Credit Card Security

February 23rd, 2018 | Author:

[M]illions of people use credit cards every year. They hand it over to pay for purchases or go online with a card number to buy what they want. They seldom stop to think about security and how credit cards differ in protecting your identity and money. How to Protect Your Identity Make sure you sign […]

Continue Reading »

What Self-Employed People Need to Know about Buying a Home

February 19th, 2018 | Author:

[A]ll people are not created equal, at least not when getting a mortgage. A person at a traditional job will generally have an easier time getting approved for a home loan than someone who is self-employed. What many who have taken the leap to being independent contractors, freelancers or self-employed don’t know is that getting […]

Continue Reading »

How to Pick a Credit Card

February 14th, 2018 | Author:

[T]here are so many credit card offers available today, it can be difficult to select the best one for yourself. You may get overwhelmed at the offers that come in the mail or your email. You only want one or a few cards, so you don’t want to pick the wrong one. Here are some […]

Continue Reading »

How to Build an Emergency Fund

February 7th, 2018 | Author:
h

[W]hen you’re struggling to pay bills, it can seem impossible to get ahead. Even if you have made it your goal to start saving money or open a savings account, it may seem unachievable if you can barely make ends meet. However, it is essential to create an emergency fund even when it seems like […]

Continue Reading »

First Lessons to Teach Kids about Credit

February 5th, 2018 | Author:
h

[Y]ou hear all of the time about teaching lessons to kids on money, but not as much specifically on credit. However, credit is just as much a fact of life in today’s society as other financial tools, and kids should start learning early about it. What Credit Is The first lesson for kids is to […]

Continue Reading »

Credit Terms You Should Know

February 2nd, 2018 | Author:

[W]hen reading about credit or even viewing your credit report, you may stumble upon some terms you’re not familiar with. It’s important to understand these terms, so you can get a complete picture of your credit health. FICO score – this is a credit score that is used by all three national credit reporting agencies. […]

Continue Reading »

3 Budgeting Apps to Help You Stay on Target

January 31st, 2018 | Author:

[I]t takes time to organize and track your budget. Most people don’t have that much time to sit at home in front of the computer or a budgeting book. Thanks to the numerous budgeting apps available, you can work on your budget from anywhere. Here are three to consider. Mint One of the most popular […]

Continue Reading »