We hear it time and time again. Set a budget and stick to it. Easier said than done. But when it comes to improving your credit, the way you spend your money can have a direct impact on your future credit score. Imagine, you spend $1,200 for a new plasma television set and you fail to budget the amount of money you needed for your monthly bills. You decide you are going to make sure you pay your mortgage and auto loan bill on time but you decide to hold off on that Capital One Bank credit card. Capital One reports a thirty day late on your credit report and then overnight, your fico credit score drops 100 points. All that work hiring someone to help remove the errors and inaccuracies from your credit report was wasted due to your carelessness. Not on my watch. Budget planning has to be an integral part of any credit report repair program being handled by a licensed attorney.
Check out this story from the Orlando Sentinel regarding setting a budget in these cloudy economic times. Buff up your Finances: Reduce Debt, Focus on Basics
