How to Stop Making Credit Mistakes and Take Back Control of Your Finances

A few other tips I cover in more detail on the podcast episode include addressing past due bills. I know it’s easy to build this up in your head as something to dread, and avoidance is tempting, but the only way to get yourself out of the mess is to take back control. Trust me, no one is going to judge you as hard as you judge yourself. You’re not a bad person. You’re not terribly irresponsible. You’re a human, and you’re trying to be better. I’d say that’s admirable.

You should also try your best to avoid applying for additional lines of credit unless you know that you’ll be approved; denied inquiries lower your score. Maintain low balances, and try to keep accounts open. I know this is tempting, but open and well-managed accounts go a long way in demonstrating your fiscal responsibility. Lastly, to the best of your ability you should try and make sure you only charge what you can pay off at the end of the month. I know it seems like an uphill battle right now, but if you take the time to get a plan and repair your credit little by little, you’ll be in a better place before you know it.

To learn more about how to improve your credit score listen to Episode 5 of The Women, Wealth, Impact Podcast, out now!