Do I really need a credit score? Can I really live without one?

No matter what your credit score is, there’s nothing about it that indicates you’re great with money. It does not prove you are financially stable. What a credit score really does is monitor how good you are at borrowing money and paying it back over the course of your life.
If you happen to have a credit score of 800, creditors may treat you like like you’re special. But here’s the catch: Your “superior” score in no way indicates that you’re actually good at handling money. It just means you’re good at borrowing lots of money and paying it back on time!

Do I Really Need a Credit Score?

Since a credit score is an indication of how well you manage and pay back debt (which costs you more on everything you purchase due to the interest and fees you pay) it is NOT a true indication of wealth or financial success.

Rather than fixating on the things you can’t do without a credit score (like go into debt), think about the things you can do when you’re not making monthly payments to all those creditors and are debt free. Like paying cash for things, taking a vacation and not paying for it until the next vacation.  No more stress, having a college fund and paying for car or home repairs with cash. What about investing to build wealth? You can invest much more effectively when you’re not making debt payments.

When you’re not sending the bulk of your money to creditors for all the loans and credit cards you’ve been using you’re free to do whatever you want with your money and that includes whatever you wish.

Can I Really Live Without a Credit Score?

Improving your finances doesn’t involve opening up another credit card or making payments on a new truck. If you’re looking to improve your financial position the best thing you can do is pay down all your debts to zero, close the accounts and say goodbye to your score altogether.

Getting rid of your credit score once and for all is just one step on the journey toward financial wellness. Unsure of how or where to begin? We’ll help you figure out where you are with money now so you can get to where you want to be.  Schedule a free conversation here. Then, dive into joining a group, getting a mentor, some accountability or maybe hiring a coach and take control of your money once and for all.When you are managing money well you are paying for things as you go, you have money for emergencies and upcoming purchases.  You are investing for college and retirement and enjoying your money.

When you do these things, you have no need of a credit score.  Millions of folks are living this way. 

YOU CAN TOO!