Quickest way to improve credit and save money?

[crackerjack9]

I'm in a tough spot, financially. I have bad credit and live paycheck to paycheck. Any tips on how to improve my credit and start a savings account?

[disneysteve]

I'm in a tough spot, financially. I have bad credit and live paycheck to paycheck. Any tips on how to improve my credit and start a savings account?

Welcome.

First off, stop worrying about your credit.

If you are living paycheck to paycheck, that's a far bigger problem than what your credit score happens to be. You're in no position to be borrowing money from the sounds of it so your credit score isn't terribly important right now. Yes, I know credit scores get used for other purposes but you've got more important things to focus on.

The best way for us to help you is to see the actual numbers. List your income and expenses and any debts including interest rates. That way we can see what's coming in and where it's going and give advice as to what you can do differently to improve your situation.

[pflyers85]

I agree with DS. The last thing you need to worry about right now is credit. You need familiarize yourself with the concept of paying yourself first and coming up with a budget where you spend less than you make. Without any other details of your situation (income, expenses, debts, interest rates, etc) the members at SA can only give you pointers and general platitudes. With the other information it helps iron out some plans that you can put into action.

[snafu]

Yet another benefit of listing the gross income[s] for all members of your household and [net] sum actually received, after deductions tells you the starting point. You need to know where the money goes, what interest rates and fees take $$$ away immediately. How much you pay in bank fees since they are so clever at moving money from your account to their profit.

The more you know, the easier to make changes that improve the situation.

[fhaloanboise]

I think you need to know about more updates regarding your credit. It'll be much helpful for u.

[fhaloanboise]

I think you need to know about more updates regarding your credit. It'll be much helpful for you.

[Fishindude77]

Good advice by DisneySteve.
First order of business is living within your means.

[bjl584]

I'm in a tough spot, financially. I have bad credit and live paycheck to paycheck. Any tips on how to improve my credit and start a savings account?

We'll need to see more info and details on your finances to give any sort of meaningful answer.

I agree with Steve that your credit doesn't matter right now. If you clean up your budget, and pay down your debts, then your credit will fix itself.

[Momunist]

DS is so right - in fact, I just wrote a post this morning about the relief I've experienced just by opening the bills, looking at the balances/minimum payments/interest rates, writing it down, and forming a plan. I can't get anywhere meaningful until I have a destination point!

[emilyliving]

Hi everyone
Before you apply for credit card you should know where your credit score stands so they can build your score and better your chances for approval. Credit scores play an important role when it comes to our financial status. We all should maintain our credit scores.I am here by pointing some basic moves that you can make:

1. The initial step is to get your credit report and discover your genuine FICO rating and watch that the information hung on your report is exact.
2. Construct a decent financial record. In the event that you have no financial record then it's more troublesome for loan specialists to score you, so will probably be dismisses. Along these lines, for those with a constrained record, you have to fabricate one. We demonstrate to you best practices.
3. You should correct your incorrect information on credit defaults. On the off chance that the information on your credit report document is off base, this can be updated to improve your report and score.

[clatoden99]

Personally, I don't own a debt card.

reasons - have you ever tried contesting a debit card transaction? Much more difficult than a credit card. Also it accesses you bank account directly. One large transaction and you're bouncing checks. NSF fees are costly. Finally, does not build or maintain credit.

Credit cards - just pay it off each month and no fees.

[Nutria]

Personally, I don't own a debt card.

reasons - have you ever tried contesting a debit card transaction? Much more difficult than a credit card. Also it accesses you bank account directly. One large transaction and you're bouncing checks. NSF fees are costly. Finally, does not build or maintain credit.

I had that fear too for a long time, but our CC spending was out of control.

Using the DC forced us to live within our means. Long after we had developed sound fiscal practices (out of fear that we'd "revert" did we move back to using a CC.