Good Luck Chuck

Some people think of me as a guy instead of financially sound, but it does not take a genius to do this. I'm money. I save money. I do not borrow money. Do it in that order. This is the formula.

I always recorded my parts and paid cash for all discretionary spending. Even when I used the credit cards, I only did it to earn rewards and points; balances have been paid in full each month. Same with all the bills: paid on time and in full. For my ability to do so, I am grateful and I consider myself lucky. It is so easy to fall into a hole. It happened to some of my friends who are just as intelligent, clever and diligent, as I like to think I am.

Recently I went into business for myself. That meant I had to borrow money because the sad fact of the matter is that you need money to cover costs of operations and cash flows is not always adequate or equal.

Again, I consider myself lucky because I have not had to borrow much money and were quickly able to pay my debt to this day (knock on wood). In addition, I was able to borrow at favorable interest rates thanks to my good credit ratings who have been a matter of luck.

The word "luck" recurring, because success always depends on it to some extent. Following my luck, I could borrow money at favorable rates. My insurance premiums are lower. I may have even got jobs and contracts because the client or employer check my credit.

"Wait a minute, you might think," what is a good credit have to do with luck? "

For most people, very little - they pay their bills on time. Of course, you must be a little lucky to be able to make enough money to do that, especially these days, but I digress.

The element of happiness: I have never checked my credit report and notes. I mean, I never do again testing all these years. Errors and imperfections of their place in the same folder of the most conservative. Do you know how lucky I was? Very. Even a small mistake or two would have cost several thousand dollars.

If you try to maintain a good credit or improve a bad one, it is important to know what the credit bureaus say about you. Your credit score is a big part of your reputation and your reputation is everything.

And knowledge is power.

If it has been a while since you checked your credit reports, you should get free scores of all three offices as soon as possible. I was a fool to rely on Lady Luck. God thank you, I was lucky!