Everybody has a credit score. It either makes or breaks you. A credit score gives a consumer the ability to obtain goods and services. It’s based on the trust that future payments will be made. The better your credit score, the better your financial life.

It is easy to tarnish your credit score and if it goes down, you will have to work very hard to restore it.

Below are 3 financial habits to give up if you want to have and maintain a better credit score.

  1. Impulse buying/Spending

Everyone has a budget, whether it’s written down or just in your mind. If you don’t stick to your budget, it is a sure recipe for disaster. Overspending and impulse buying is a terrible habit that can lead to worse things happening.

 

  1. Using your credit card for points

These days almost all credits cards come with a point system. The more you use your card, the more points you acquire. These credit card companies only want you to do one thing… spend more money. You use your card with the points in mind and end up having a tumultuous bill to pay back. Be wary of these incentives and keep your spending in check.

  1. Keeping up appearances

For some people, appearances matter and it’s important that they keep up with the latest trends no matter the cost. The challenge that lies in this is that it can be costly. Many people run themselves into debt just to ‘keep up with the joneses’. Do not fall into this trap. Live within or below your means always.

Desmond Murray Jr. is the author and creator of the e-book/audiobook series ‘Rich Confidence’. To learn methods on credit visit www.richconfidenceintl.com.