How to fix my credit score for my New Year’s resolution

Is budgeting or money saving at the top of your list? Canada Credit can help!

How to fix my credit score for my New Year’s resolution

A credit score can suffer while celebrating the holiday season. Christmas! Gifts! Food! Family! Friends!

But when the holidays end, your financial position may not be too happy with you. A bad credit score affects many aspects of your life.

Global News states millennials are spending more money on gifts this month than any other age group and plan to spend a lot more than last year. Even with their mountain of debt.

The article further states over half of the Canadian respondents admitted to going over their budget. Also, “41% admitted that they can’t afford to spend as much as they think they will.”

Not even one-third of Canadians make resolutions.

In 2017, statistics show 33% of Canada had fitness as their main resolution, whereas money centered goals were second at only 21%.

Don’t make money mistakes that will make 2018 stressful. You should focus on it now, not be neglecting it.

Start your credit score New Year’s resolution early

First, get the right mindset to ensure you stick to a resolution. Have faith in yourself and erase any doubts.

Are your finances and credit score where they should be? For your New Year's Resolution, Canada Credit Cares can help you get them where you want them.

Truly look after your credit score and money, considering recent occurrences with Equifax.

The American Psychological Association suggests starting small and realistic to make sure your resolution sticks. It is not realistic to fix it as you would a zipper.

Stress builds with money on the mind. APA gives a great reminder to keep people informed in your life who support you. Nothing is wrong with asking advice or help. Be calm, patient and communicative.

Forbes believes people should establish fair goals first. The article mentions having “SMART” goals: “specific, measurable, achievable, relevant and time-bound.” Know your personal credit score specifics and status by keeping in contact with Equifax and TransUnion.

Try to save money when possible. There are ways to reduce spending on big necessities. Financing is available for household items, and we have found online shopping to be cheaper nearly always.

Household debt is precarious at the moment, according to The Globe and Mail. Mortgage borrowing and debt are only increasing. The Bank of Canada, “… considers the country’s high household debt levels to be the biggest source of vulnerability for the country’s economic outlook and financial-system stability.” There are solutions.

Make yourself remember to pay. To reduce your debt and make that pesky credit score better, payments should be regular. Online banks will send reminders if set up.

Do not go over your credit limit. Perhaps obvious, but one of the main things that can mess everything up and set you back instead of forward. We’ve all been there.

Get solid credit advice and aid for credit scores to make your credit rate better, and faster.

Don’t worry if you slip. Mistakes happen, and that is how we grow as humans!


But get back to your goal.

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