First, list all of the things you spend money on in a month…

Second, make cuts for expenses that are not necessary to spend your money on.

This is a good way to save a little money here and there and helps you to not overspend.

When you cut out the things that you do not need to spend money on, you’ll yourself saving a lot in the process.

Here are 5 simple steps to establish and maintain your credit score that you need to implement:

Step 1: Start a part-time job

Think about picking up a job on the weekends to get your finances back in order. You can get a job online or apply for a job somewhere to work on weekends only.

Start getting a few extra bucks here and there and see how much you can make in a short amount of time to make timely payments for your quick cash loans.

The extra money you make can add up to help you to spend on things you need, and it will help you get out of debt.

You do not have to work this second job forever, but consider sticking with it until you are financially secure.

Step 2: Check the fine blueprint

If you find that the credit limit suits your needs, you should then look at the interest rate.

Pay attention to the fine print.

Notice if there is an introductory rate. Often times, they will offer you an incredibly low rate for 6 months and then hike it up high.

Another tactic you need to watch out for is if they offer you a low rate… until you miss a payment.

Generally one missed payment will send the interest rate skyrocketing. This can make it incredibly difficult to repay the balance, and you will end up with a mountain of debt.

Reading through the fine print will save you a lot of trouble. Just be sure to take your time and cover all the information to ensure you are getting a fair deal.

There are plenty of other companies out there that will gladly issue you credit without bad deals.

Step 3: Carry a credit card

One great saving habit to cultivate is paying cash, instead of using credit cards. When you have a credit card balance it becomes very difficult to pay it off.

The reason is many credit cards have high interest rates and most of your monthly payment goes toward paying the interest. Since very little of what you are paying goes towards paying what you owe, it becomes a regular, ever-increasing monthly bill.

Some cards carry benefits for using their credit services. Whether it is frequent flyer miles or a point system you can redeem, you need to find a card that has benefits you will actually use.

One of the best benefits to find is when they offer to waive fees after you accumulate so many points.

Step 4: Set aside your savings before making expenses

Most financial planners will tell you one of the rules to having healthy finances is to pay yourself first.

As soon as you get paid, set aside a predetermined amount of money to go into your personal savings.

If you neglect to do this, it will be impossible to ever have savings or an emergency fund!

Step 5: Avoid window shopping

When you want to get out of the house, avoid recreational trips to stores or the mall. It is easy to convince yourself you are just going window shopping.

The reality is that window shopping often leads to impulse buying. This is one sure way to sabotage your budget.

Which one of these steps did you find helpful in establishing your credit score?

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