Have you ever been in a relationship that was blissful and at some point beneficial for all involved? I’m sure you can remember at least one time! Let’s take a trip down memory lane, shall we? After so long, maybe you decide that things aren’t going how you thought they would and you break it off, in a very tactful way of course. What if, all of a sudden, the relationship does a 180-degree turn for the worst? Well that was me when I broke off my relationship with one of my credit card companies.
Now let me start this off with a few disclaimers. I am NOT a comic book fan nor am I well versed in any one comic book character. In fact, had it not been for my husband, I would have never gone to a theater to see any of the comic book movies. Now that we’ve established that, I will proceed.
Last fall, my husband and I went to the theater with some friends of ours to watch Captain America: Civil War. This was also where I first got my introduction to the Black Panther character. I was intrigued by him for many reasons, but the most important one was the way he handed Bucky, a.k.a. the Winter Soldier, a butt whooping on the rooftop. Granted, he did confront many of our beloved comic favorites, but something about him and the background story of his country kept me interested for more. I knew at that moment that I would be in pure anticipation until the actual Black Panther movie premiered. My friends even brought a Black Panther workout routine to the gym to get us ready for the big debut!
Every so often, I come across a Sponsored Ad for credit repair or a social post soliciting people to sign up for help with their credit score and I shake my head. Don’t get me wrong, I’m not against paying for credit repairs just because Dave Ramsey said so. I’ve been against paying for those services even before we stepped into a Financial Peace University class. But let’s be clear, Dave Ramsey’s principle includes not having a credit score in the first place. So from his perspective, you should be working towards having no debt or credit at all.
My husband and I have been on our ‘War Against Debt’ for about 16.5 months and it has not all been easy. However, I thank God for covering us as we work towards completing Baby Step 2. I’ve learned throughout this process that achieving different levels of success require more than just excitement from a good speech or book. Although those things may plant the seed, you have to do the work to reap a harvest.
We may be in a new year, but Rep. Maxine Waters’ (D-Calif.) “Reclaiming My Time” statement still resonates in my mind. Not necessarily for the context in which she said it but for everything that I allowed to consume my time that had no positive impact on my goals. We’ve all been there at some point, if you think about it. For example, it could’ve been an interaction with someone that you reacted poorly to, yet your goal was to not be so reactionary to situations like that; or bad habits that took you off course from achieving a personal breakthrough. I had some time to reflect on last year and came up with things that I need to be more conscious about in 2018.
You’ve all heard the phrase “don’t be house poor.” But being “car poor” is just as bad of a situation to be in. I remember my first car like it was yesterday. I gave it a name, and we traveled across the country together. It was a good run but before I knew it, I’d replaced more things on that car than I ever should have. Let’s just say that the failing transmission was my last straw before I reluctantly accepted the fact that I would have to replace the car.
We’ve all heard time and time again that you need credit to buy a home, car, or anything else that most people borrow sums of money to purchase. But what does having a credit score really signify? According to the Consumer Financial Protection Bureau (CFPB), it “ …predicts how likely you are to pay back a loan on time. A scoring model uses information from your credit report to create a credit score.” The CFPB states that there are several factors that go into determining an individual’s score: