unmanaged income and expense
Los Angeles-Long Beach, CA (PRWEB) September 23, 2015
Debt Consolidation USA shared in a recently published article some of the most common mistakes that consumers make against their credit score. The article titled “5 Misdeeds You Commit Against Your Credit Score” discusses these mistakes and ways to prevent them.
The article starts off by pointing out that when consumers start to talk about their finances, it will not be long before they start discussing about their credit scores. This three-digit number represents an overview of a consumer's financial standing and reflects the money management skills of consumers.
One of the things that people do that hurt their finances is being grossly underpaid. There are a lot of jobs that people have to take to at least have some food on the table but in spite of this, they need to continuously look for ways to increase their pay to meet all their financial goals.
There are also people who do not prioritize their finances and relegates it to the bottom of their to-do list. This results to unmanaged income and expense and consumers do not have an idea how much they are spending and if they still have enough at the end of the month. This can also lead to unpaid bills and getting into delinquency and even default.
The article also shares that there are some people who allow other people to drag down their credit scores. This is usually seen with parents and grandparents allowing their kids, grandkids or other people take out a loan using their credit score. Cosigning a loan can gravely backfire on a person's score.
To read the full article, click this link: https://www.debtconsolidationusa.com/personal-finance/5-misdeeds-you-commit-against-your-credit-score.html