Chris explains some really interesting ways to improve our credit that I had never heard of before.
One thing Chris mentions is making sure you pay down the balance on your statement close date and not on the payment due date. This is because the banks report to the credit bureaus on the statement close date — not on your due date.
This means even if you pay off your credit card on-time, you could still be hurting your credit if your balance is above the available credit line threshold.
Also, Chris talks a lot about why you don’t need to pay someone to fix your credit for you and how simple it really is. I was even a little surprised with how simple it is.
And if you’re someone who is just starting out and trying to build your credit, Chris and I both discuss a unique strategy that involves piggybacking onto a tradeline.
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Looking for a better way to manage your finances?
I am currently taking applications for the upcoming financial coaching program where you and I will be meeting for 5 weeks over a weekly Zoom call.
In those 5 weeks, you will master a spending plan, you will save at least $500, and you will start rapidly paying off debt.
Over 100 people just like you have gone through the program and we are currently at just over a 97% success rate!
You can apply here: https://www.moneypeach.com/apply
I personally review all applications and will be in contact with you soon!
Do you have a ROTH 401(k) option with your employer?
Right now about 50% of employers who offer a 401(k) are now offering a ROTH 401(k) as an alternative option for retirement, and 60% of those who have access to a ROTH 401(k) are using them.
In this episode, I am going to talk about why the ROTH 401(k) is a much better option and explain exactly how the ROTH 401(k) works.
Once you understand the why behind the ROTH 401(k), you'll be making the call to your HR department and start contributing to the ROTH 401(k) in no time at all.
**If your employer does NOT offer a ROTH 401(k) and you still want access to tax-free savings in retirement - you still can.
**For the purpose of this episode, the rules for the 401(k) can also apply to your 401(a), 403(b), 457, or TSP.
**Ready to reach financial freedom? Join me in our next live coaching program, Smart Money Academy. This is a live coaching program where you will learn how to manage every dollar, pay down debt, save more, and truly reach peace with your life and money.
All the show notes and links from the episode can be found out https://www.moneypeach.com/session131