How Important Is Your Credit Score?

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Well it is not nearly as important as the banks, the lenders, the credit bureaus, the entire system will have you believe.

Of course, a high credit score can get you lower rates and better terms when you borrow money. A good credit score will also enable you to borrow money if you need to.

But there are many other things that are much,much more important for your financial peace than a credit score.

Saving for retirement, for example. Getting your finances in order so that you can save, another example. The peace of mind of knowing that you are not living beyond your means. The peace of mind of actually paying cash and owning whatever it is outright.

Credit scores are always skewed for the benefit of the lenders, the banks, the credit bureaus, the credit reporting agencies. Everyone or rather everything (since they are typically corporations which contrary to what some believe, are not human) except you, the consumer.

Credit scores will not make you or break you. Many people live with low credit scores everyday.

But focusing on your credit score to the detriment of your own financial freedom can break you.

Take care of yourself first. Pay yourself first.

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