Between School and my Mom, I was let down and misinformed on the importance of having a excellent credit score.
During my upbringing Mom taught me to buy everything cash. So I thought having zero credit was a good thing. Thinking I didn’t owe anybody money so I was doing good. It wasn’t until I moved to Seattle and was shopping around for a car when I found out the importance of having fantastic credit. It took a long time for a bank to approve me since I didn’t have any credit to my name. I ended up paying a huge deposit for my first car and my interest rate was out of control.
Now that I am just a few weeks away on paying off my first car.
For the past five years I have been doing my best to grow my credit score.
It is quite apparent that I love shopping. I got credit cards from All the major big box stores that I frequent and also through our banks. I must say having a credit card to your favorite clothing retailer is very dangerous, but at the same time it’s rewarding. However my goal in the next three months is to pay off all my credit cards and stop using them. This year I really want to focus on my finance. Living downtown Seattle has its pros and cons because Mikey and I have little self control when it comes to going out.
We live in the coolest tourist area surrounded by some of the finest restaurants and stores. We have this joke we always say “you can’t leave our place without spending $200”.
Which is actually very true. Mikey and I very rarely cook at home. With our busy schedules it just easy for us to eat out. We tried Eat Local and Hello Fresh, none of which worked for us.It does not help that I am actually a excellent cook. So Mikey compares all the foods to my cooking. This year we cutting back on eating out and starting to preparing more home cooked meals.
I am also cutting back on shopping. Which I already started working on. Ever since we opened our boutique I will putting that money back into our business.
Mikey and I plan on traveling this year which I am very excited about.Being financially responsible is very important right now more than ever because Mikey and I are talking about buying a home or condo.
We all know homes or condos in Seattle are very expensive. So having a excellent credit score is great for banks to look at. What are some of your Financial goals this year?
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Photographer: Ren Cabasa