Pay Your Bills on Time

If anyone remembers the 1960's, or in my case, have a vague idea about them, then they know the 60's were an era of people more than numbers. Here is how things have more than changed. Perhaps the most important influence on the success in your life is your credit score (it conjures up for me little math geeks punching in my lower number right now). I digress. That wonderful thing called credit which could be as simple as a cell phone or as expensive as a mortgage becomes altered by the great credit lords who determine your risk assessment - excellent credit translates into low risk, poor credit into high risk and everything in between. So what should a mere mortal like me do? I am a working stiff who wants to get a better deal on something I will buy in the future. Fortunately, you do have power over your credit destiny. The first thing is to pay your bills on time. Not to sound like your mother, but put yourself in the credit lords' shoes. You are lending money to someone who will repay you in the future. Do you want your money back as soon as possible? You bet. I knew someone who constantly paid his mortgage by the last date possible on his statement before the bank would start to consider his mortgage in default (in other words before the bank would begin his Sopranoesque demise). Not good! The first date on a mortgage is the date the institution wants the cash in the door. Not one day later. This philosophy applies for all credit that includes your Social Security number. Why turn an opportunity to turn an excellent record into a poor one by consistently paying 15 days late?

Remember, appease the credit powers that be. They can be your friends, for you will need them again. Oh yeah, for that tip you can treat me to your uncle Louie's restaurant. In the overall spectrum of things, I may have just saved you thousands of dollars on your next mortgage - and, after all, this can mean more toys right?