New Year Resolutions: My Credit Profile and Me
It’s a brand-new year and as usual, we are all making resolutions: both those we intend to keep and those we set yearly knowing they won’t make it to the end of January (I see all you January gym goers!).
One area that does get a lot of resolve at the beginning of the year is our financial life, however, a lot of people do not pay attention to the part that has to do with the use of credit facilities.
How was your credit performance last year? Were you a regular-degular zero credit performer or were you an “I’ve got my creditors chasing me down bad” performer? The good news? A new year brings a new opportunity to re-invent yourself and correct past mistakes.
To help, here are resolutions to enable you take control of your credit persona in 2025.
Put your hands on your chest and repeat after me:
- “I will become a monitoring spirit”. Monitoring your credit as you utilize it to meet your personal and business goals is key. It is also imperative to constantly check in on your report and ensure you are in good standing with all financial institutions that you partner with. SeedFi is always here to provide updates on your credit standing and advisory on what you can do to improve this.
- “I will not bite more than I can chew”. A lot of people do this by taking on more credit obligations/commitments than they have the ability to service at a time. You must be able to determine when you are at your limit so as not to overstretch your commitment levels which ultimately leads to defaults.
- “I will cut my coat according to my size”. Building a good credit persona is not just about repayment of credit facilities but also being able to build a spending budget that works for you. Having a spending limit ensures that you do not have an overreliance on credit either.
Start your journey to a better credit profile—check your SeedScore today at seedscore.theseedfi.com
Here’s to 2025 being your best financial year yet!
