Struggling With Bad Credit

6 Ways to Improve Your Credit Score – Get the Loan You Want

I am struggling with bad credit. Is it the end of the world for me? Fret not! There are ways for you to improve your credit score. While having bad credit is usually a costly and stressful experience in Singapore, it does not have to be the end of your financial prospects. The situation may appear to be dire and hopeless, but bad credit is something that can be dealt with effectively. There are various things that can be done to begin the journey to improve your credit score. Credit Scores Let’s start with the basics of what a credit score is. A CBS credit score refer to the grades that consumers are given by the Credit Bureau of Singapore (CBS). These numbers are shared with financial institutions (banks, licensed money lenders, etc.) and creditors who may want to approve someone’s good credit or extend a loan. It also acts as an indicator of the likelihood that an individual makes timely repayments on loans or whether he or she goes into default.  Credit scores are given on an index of 1000 – 2000 (AA – HH), with 1000 (HH) being the least ideal and 2000 (AA) being the most ideal. Creditors use credit scores to determine whether a person is credit worthy or a worthwhile credit risk. This makes it possible for creditors to find out whether there is a high possibility of the borrower making timely payments on a loan or paying off credit card bills. Third parties such as lenders often use credit scores as a way to evaluate the risk of lending someone money. Credit scores are among the options that various institutions, credit card companies and banks have for assessing the likelihood of a person being able to pay off the debts that he or she accumulates. Higher credit scores show that a person’s past behavior and current circumstances indicate an ability and willingness to pay off the loans they have been approved for. With that said, credit scores are only one of the many factors that we look at while assessing whether you are suitable

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10 Awesome Advantages of Budgeting – Start Saving For Your Future Today

Most of us would probably have heard of the importance of saving. But how many of us can truly say that we budget our spends each month? What some of us would do is that we’ll have a budget list set out, begin using it, and then along the way revert to our old ways. Sounds familiar? Everyone who sets a budget should do so with a goal in mind. That goal can be to pay off debt quickly, to put together an emergency fund, or even to gather enough money for an investment or a down payment on a house. That said, to attain goals, you’ll have to be consistent in saving. This calls for discipline in sticking to your stipulated budget so that you do not spend the money which you intended to save. Unfortunately, it’s not going to be easy. You’ll find yourself fighting through various temptations that arise and steering clear of your old spending habits.  It is important that you constantly remind yourself about the many benefits of sticking within your budget. If you’re in need of a visual reminder, you should consider creating a vision board of what you are working to achieve. Top 10 Benefits Of Budgeting Need a refresher on the benefits of budgeting? Here are 10 advantages that you can look forward to when you begin to budget! 1. Financial Control Budgeting provides you with control over your money. You’ll be forced to get intentional about how you spend as well as how you save money. Your finances are no longer a runaway freight train, when you are now in total control. By having a good budget, you won’t have to deal with the stress of realising that you do not have money for a sudden emergency or need that arises. You’ll be better able to make certain choices, like sacrificing small pleasures that eat into your expenses in exchange of other benefits such as a vacation, or owning your own home and car. 2. Increased Focus With a good budget, you can now focus on the goals you’ve set. The

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