I’m in your credit repair program and understand the importance of starting a savings account, but I can’t seem to get ahead. Do you have any inspiration for me?
A savings account is the perfect companion to your credit repair program and you are right to be thinking about it. A savings account will provide a buffer when unexpected expenses come up. If you don’t have a buffer you may end up using a credit card to make up the difference, or falling behind on your payments. Neither of these possibilities is particularly attractive, and it would be a shame to put your credit repair progress at risk. If you have had trouble getting your savings account started you probably need to think of it in the context of a larger budget plan.
Think of it as a Game
Setting up a budget is not hard. Think of it as a game. The goal is to make sure that you have less money going out than you have coming in. The net surplus is the amount you have available for savings. Once you have figured out a way to balance your budget your saving account will grow and your credit repair results will be safe. Unexpected expenses may still arise, and you may need to dip into your savings to cover the bills, and that is as it should be. I suspect that on average you will find that your savings account will continue to grow, eventually becoming significantly more than a buffer against unexpected expenses and a support for your credit repair. You will start to build real long term wealth.
Budget Inspiration
You asked for inspiration. Finding ways to make your budget work can be a challenge. But you may also find that some of the changes have a very positive effect on your life. Many of our credit repair clients have reported to us that their life was greatly improved after adjusting to a new budget. Here are some ideas. Try cooking at home instead of eating out. Consider taking a cooking class to spice up your home menu. Consider trading in your car for something more budget friendly. Many of our customers have done this and been very happy with their new cars. Try making your own entertainment; a walk in nature, game night at home, or explore the options offered in your community. Become a little creative! Make it fun. The results go well beyond credit repair. You will see!