Financial Resources
Preparing For a Financial Loan
Welcome to a journey towards credit success! Whether starting fresh or mending past mistakes, our financial resources are designed to help you succeed. It’s understandable if you’re overwhelmed – credit can be complicated.
Our staff brings over 16 years of working in banking and finance, and we’re dedicated to providing education and support to those looking to improve their credit health. To get started, we will focus on two crucial steps to lay the foundation.
So, let’s get started creating your path to credit success!
Step 1: Credit Report
Have you obtained a copy of your credit report yet? Understanding your credit report and taking steps to repair any issues is the first step. Luckily, obtaining your credit report is both free and easy. The government mandates that everyone receive one free copy of their report annually from each credit reporting agency, and you can request it within minutes via www.annualcreditreport.com.
Don’t fall for the trap of paying for your report or a “Credit Repair” company to do any of these things for you. With your report in hand, you’ll be well on your way to achieving your credit potential.
Step 2: Income and Debt
Let’s start with a simple exercise focused on your income and debt. Using the same strategy from your loan application, we’ll break down your spending issues, savings potential, and budget modification needs. By listing out all of your sources and accounts, you’ll get a clear picture of where your money is coming from and where it’s going.
That’s where the following calculation comes in. By providing a clear snapshot of your monthly income versus expenses, you can better understand how your money is being spent and identify any areas where you might be overspending or falling short. This would give you a starting point to create a budget and a plan that works for you, your lifestyle, and your income. Remember that this is just the beginning, but don’t underestimate the power of understanding your financial situation and taking control of your budget.
