No matter where we are going we need a map in this life; it doesn’t have to be an actual physical map - more of a plan for where you are going and how you are going to get there. Goals pursued without a plan are subject to abject wandering and an eventual loss of direction. When it comes to our finances, nothing is better served by the use of a well-laid plan of attack. For most of us, our younger years are for exploring and there may not be a really clear direction of what is to come next. But these are what these years are for, after all. The problem is that this is coincidentally the time when many people first begin to get into financial trouble; they simply don’t give any thought to the future or what the consequences will be for all that debt they are racking up month to month. The ignorance of youth – certainly in this circumstance – is indeed bliss.

Later on, of course, we are forced to deal with the repercussions of our financial behavior and perhaps a damaged credit report as a result. As we soon learn, the consequences for damaged credit can mean that we are not extended credit later on in life when we really need it to get a car or buy a home. And so we begin the process of trying to repair the damage we have caused so that we are in a better financial position going forward.

In this particular journey in life our credit report serves as our map; it guides us in our quest of determining what is best to do and will give us an honest assessment of where we stand, where we need to go and what we have achieved through our efforts along the way.

Popularity: 23% [?]

Share This