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Ep 8: Credit Score Takeaways
After the interview with credit expert Richard Moxley, Meghan and Lindsay share their biggest take aways, ideas and thoughts
LINKS:
Black is the New Red: THE place to have Canadian money conversations! www.facebook.com/groups/blackisthenewred
Richard Moxley is one of Canada's leading authorities on personal credit. After seven years as a mortgage broker, he had had enough in watching people forced to pay thousands of dollars in excess fees and rates, all because no one had taught them the basic rules of credit. Learn to level up your credit game on his website: https://creditgame.net/
Email him ANY credit questions: [email protected]
Credit PIE chart: https://www.skidmore.edu/hr/documents/Credit-Score-Pie-Chart.pdf
SHOUTOUT:
Are you experiencing the decision-fatigue like we are?? Tell us!!
HOMEWORK: find something that you can OFFLOAD to someone else! Tell us what you're offloading and how you're doing it… so that we can learn from you!
HOW TO GET IN TOUCH: Join in the conversation with 8000+ other Canadians (and finance industry pros) in Black is the New Red: www.facebook.com/groups/blackisthenewred
DM Lindsay @ www.facebook.com/lindsayplumbmoneycoach
DM Meghan @ https://www.facebook.com/porterougeco
Email Richard @ [email protected]
Show Notes:
00:01:16:;
Credit cards are not evil. It's NOT bad to use one. It IS important to have rules. For some people, the best strategy is to choose one or two things that you are going to use your credit card for (like gas, or cell phone bills) and then you know to regularly pay it off.
00:02:22: Having rules for your credit card usage can help avoid decision fatigue and impulsive decisions. There are SO many different decisions that can affect your score, so having a strategy in place will help take the guesswork out.
00:08:39 Richard even says no to joint accounts or cards with his WIFE! It makes sense though. Even though you may trust your partner, and know that they aren't going to run off or purposely make poor decisions… people still make mistakes. If they accidentally forget to pay a bill, it won't just affect them… it will affect you too!
00:13:41 Lindsay's rule is to aim for a credit score of 750. Anything over that, and your time would be better spent focusing on your budget or investment strategy.
00:17:25 Linsday talks about when she recommends credit monitoring apps like Borrowell or Credit Karma to her clients.
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By Meghan Chomut and Lindsay PlumbAfter the interview with credit expert Richard Moxley, Meghan and Lindsay share their biggest take aways, ideas and thoughts
LINKS:
Black is the New Red: THE place to have Canadian money conversations! www.facebook.com/groups/blackisthenewred
Richard Moxley is one of Canada's leading authorities on personal credit. After seven years as a mortgage broker, he had had enough in watching people forced to pay thousands of dollars in excess fees and rates, all because no one had taught them the basic rules of credit. Learn to level up your credit game on his website: https://creditgame.net/
Email him ANY credit questions: [email protected]
Credit PIE chart: https://www.skidmore.edu/hr/documents/Credit-Score-Pie-Chart.pdf
SHOUTOUT:
Are you experiencing the decision-fatigue like we are?? Tell us!!
HOMEWORK: find something that you can OFFLOAD to someone else! Tell us what you're offloading and how you're doing it… so that we can learn from you!
HOW TO GET IN TOUCH: Join in the conversation with 8000+ other Canadians (and finance industry pros) in Black is the New Red: www.facebook.com/groups/blackisthenewred
DM Lindsay @ www.facebook.com/lindsayplumbmoneycoach
DM Meghan @ https://www.facebook.com/porterougeco
Email Richard @ [email protected]
Show Notes:
00:01:16:;
Credit cards are not evil. It's NOT bad to use one. It IS important to have rules. For some people, the best strategy is to choose one or two things that you are going to use your credit card for (like gas, or cell phone bills) and then you know to regularly pay it off.
00:02:22: Having rules for your credit card usage can help avoid decision fatigue and impulsive decisions. There are SO many different decisions that can affect your score, so having a strategy in place will help take the guesswork out.
00:08:39 Richard even says no to joint accounts or cards with his WIFE! It makes sense though. Even though you may trust your partner, and know that they aren't going to run off or purposely make poor decisions… people still make mistakes. If they accidentally forget to pay a bill, it won't just affect them… it will affect you too!
00:13:41 Lindsay's rule is to aim for a credit score of 750. Anything over that, and your time would be better spent focusing on your budget or investment strategy.
00:17:25 Linsday talks about when she recommends credit monitoring apps like Borrowell or Credit Karma to her clients.