Care less about your credit score

Happy Tuesday! Did you guys catch that eclipse yesterday? I think I fried my camera lens trying to take a picture of it, especially because I only had a partial eclipse here in Florida. Oops.

DEFINITION
What’s a credit score?

• "A credit score is a three-digit number that tells banks and lenders how likely you are to repay your debt. A high score, usually 800 or above, is considered exceptional by most credit monitoring agencies. And a much lower score, typically 579 or below, is considered poor and will make it harder to borrow money.” (Ramsey, 2023)

PRACTICAL ADVICE
Stop caring about your credit score!

• Credit scores are not a grade for how good you are with money. It’s just a grade for how good you are at borrowing money and paying it back on the lender’s terms. The only time you should care about a good credit score is when buying a house.

• You’re not going to be taking out a car loan, business loan, wedding loan, or any other loan. And contrary to popular belief, it’s not required for most rentals. I do want you to have some better options when you get to buy a house though.

• Keep in mind: There’s a difference between NO credit score, and a LOW credit score. A low credit score is bad, but no credit score is better. And just maintaining a high credit score is the best.

HELPFUL RESOURCES
Where I buy quality clothes?

• For those wondering, if you want affordable quality clothes, I get my shirts and pants from Uniqlo and H&M.

• They are very basic, and can go with everything.

OUR COMMUNITY
What are your questions? Or share a win!

• Reply to this email with any personal finance question you have, or share with me any wins in your life! (I’ll respond to your questions anonymously in future emails)