Don't Go Down the Credit Rabbit Hole - Paul Oster #5636

Summary: Property values are going down, interest rates are increasing, and it looks as if a recession is around the corner. What does this mean for your credit? I sit down and chat with Paul Oster about strategies for managing your credit during times like this; he emphasizes that it’s crucial now to budget and lower your expenses. He recommends a few online tools that you can utilize to pay your bills on time and manage everything in one place, and you’ll find that keeping your credit under control may be easier than you imagined. Tune in for more information. Highlights: -Hopefully this doesn’t last long, but there’s no doubt we’re headed down a rabbit hole—if not a recession, a slow-down -In this environment, it is that much more important for people to pay attention to their credit score -Banks and creditors can use whatever score model they want to use -Focus on paying high interest credit cards off now -The only solution is to budget and lower your expenses; you need to run your household like a small business -Now is the time to change your behavior—you can’t keep doing the same thing and expect different results -Put your bills on autopay -He recommends mint.com which puts all of your bills in one place and gives you alerts/spending analysis -nerdwallet.com is also a good resource Useful Links: Financial Survival Network Better Qualified