Being a homeowner is one of the most amazing accomplishments I’ve done as an adult. I remember a time when I thought that home ownership was hard to achieve – that only certain people with lots of money would be able to attain. But, as I got older, got married and we had full-time jobs, I found out that it’s easier than I thought! With a little hard work and determination, anyone can achieve their financial goals – no matter how big or small!
Check out these 5 Tips to reaching your Financial Goals to help get on track!
1. Pay your bills on time. It’s important to pay your bills on time every month. Even just a day late can affect your credit score on some things – from credit cards to mortgages. Most banks allow you to set up Bill Pay where you can schedule all your monthly payments in advance to ensure you’re not late!
2. Know your credit score. keep an eye on your credit score each month so that can begin to see it improve and get real-time alerts when changes occur on your account. Use their credit monitoring program to get notified of any changes to your account.
3. Pay down your existing balances. Get those credit card balances down as much as you can. Having a high debt-to-income ratio can affect your score and rates you can get for your mortgage or car loans. Try the “snowball” method to get them down quick. List your cards from least to greatest. Throw all your extra money toward the smallest balance until it is paid off and work your way up. It’s a great way to see improvement fast and motivate you!
4. Check your credit report for mistakes and identity theft. Nobody wants to think it will happen to them, but it can! Identity theft can wreak havoc on your credit report that will take the time to fix. Get a free credit monitoring service to keep track and catch theft early!
5. Don’t apply for numerous cards. Your credit score takes a hit each time you apply for credit. Having too many cards can affect your score as well. Give your cards a rest while you focus on paying your bills on time, paying down your debt and monitoring your account. Before you know it you’ll have a great credit score that will qualify you for better rates for your new home mortgage.
If you need some help getting to your financial goals, SunTrust can help! Whether you need money for college savings, a wedding, a home or even retirement, SunTrust can help!
SunTrust wants to motivate people to move past their worry and focus on financial confidence and can help you get there! Join the movement HERE!
The onUp Movement is 1 million strong…and growing. onUp is about having the confidence to move forward one smart step at a time.
Join now and start building your financial confidence today.
This is a sponsored conversation written by me on behalf of SunTrust. The opinions and text are all mine.