All tagged debt payoff
Why it helps: Late payments have the biggest impact on bringing down your credit score. Automatic payments ensure you never miss a due date. Partnering automatic payments with a plan for your money is key (more on that later).
This not only prevents forgetfulness, which is a common ADHD challenge but also keeps your payment history spotless, a crucial component of your credit score.
What do I recommend to my clients (and anyone else who will listen)? Start by working on a small emergency fund while paying minimums on your debts, and then aggressively tackle your debt. And yes, there’s a method to this madness that can help you avoid financial stress in the long run.
Credit cards can be great tools to help minimize your financial risk. If your card is compromised and used by someone else, the credit card companies have procedures in place so you are not responsible for the charges. We have had this happen several times and have always been credited back the money for the charges.
Saving part of my income as soon as I started working would have meant that I didn’t need to start borrowing money for things like my first car. This would have meant so much to me long term.
