I’m a big fan of the idea that personal improvement comes through a couple of deep-seated beliefs found within one’s psyche. First, to truly be better tomorrow than today, one must be focused on success. People need what I call “success-filled expectations.” As my basketball coach would emphasize during free-throw shooting practice, “be the ball…be the ball.” In other words, expect the ball to go through the net. Yep, that‘s an expectation of success.
Second, to complement the expectation of success, a person must recognize a need for “cost-filled preparation.” In other words, one must put some “skin in the game.” Are you hard-wired to make the necessary sacrifices to reach your goals? Are you willing to pay the costs?
Hook the two together and you get “big dreams complemented by hard work.”
As an example, set a high expectation for improving your credit history. Don’t hunker down with a low score that results in high borrowing rates of interest. Bad credit is a very expensive proposition over a long period of time.
Secondly, you must pay the costs to clean up that credit report (both literally and figuratively). Collection accounts must be resolved. Spending habits must change. Credit activity must subside. Balances owed must be reduced. Payments must be made on time and consistent over many months, even years. You must curb your desires to open up new credit lines.
Create a symbiotic dance between these two ideas: (1) think success, and (2) sacrifice to get there. The net result will be a much improved credit score over time. That, of course, equates to less costs to borrow and more money back in your pocket.
Maybe St. Louis Community Credit Union can help? Let us know. If you grab onto the right idea of successfully turning your credit history around, then we’ll be there to help you with tools that can begin the about face. BALANCE and our new Credit Builder Loan are great places to start the turnaround.