The Power Of Credit and Financial Freedom

Category: Consumer Services

​Guest Blogger and Michigan native:
​Tonya Dunigan is a Credit Professional with Financial Education Services. I also have many years in the business as an insurance specialist, including Disability, Healthcare, Worker’s Compensation and Life Insurance. I have a passion and desire to help people fix their credit so they can establish and reach their goals. As well as an opportunity to earn additional income and become your own boss!

​Visit my website:
www.myfes.net/TDunigan

Do you know the true power of credit and what it means for the future?  Well, let’s talk about it.

Did you know that your financial health revolves around your credit and FICO score?

​Do you know your credit score?
​
A poor credit score and a bad credit history are costly! Your credit can impact many things from interest rates to high insurance premiums. Without a strong credit score, you could be denied the ability to rent, purchase a car, get credit cards and obtain a mortgage.

Your credit can even be used when being considered for employment!

Can you believe that? How dare them….

Know that the cost of bad credit and a low credit score can cost you hundreds and thousands of dollars over the course of your lifetime.

Having bad credit can cause a person to make higher deposits on something as just getting a cell phone? Poor credit will have you paying deposits on utility bills, cable, and again as mentioned paying much higher interest on purchases

So, let’s just think about this for a moment… If you need a co-signer, then it’s time to seriously start fixing YOUR credit

​Planning Your Future Means Protecting Your Loved Ones
Next, credit is one of the pieces of your financial well-being. But have you put protection in place for your loved ones in the event something does happen to you?  Have you thought about preparing a Will and/or a Living Trust?

Think about it…. When it comes to your health and your assets, the decisions you make for yourself and your family are important because you know what's best for you. Unfortunately, in the event that you aren't able to speak on your own behalf and make decisions, someone that doesn't understand your wishes can end up making them for you.

​Without an estate plan in place, these crucial choices regarding YOUR health, YOUR finances, and YOUR family are suddenly out of YOUR control.

People often disregard planning for unexpected events because they think they're "too young," it's "too expensive," or they just don't realize the importance of each piece that goes into a Will & Trust and why it’s so very well needed. 

​Let’s briefly analyze these things and their importance.

• A Will expresses your desires for the handling of you financial and personal affairs.

 

• A Living Trust will avoid the delay of your estate ending up in probate court.

I’m sure you are aware that our beloved Prince had NO Will or Trust and his estate is tied up in probate as we speak. And now our beloved Aretha Franklin had no Will or Trust either. And her estate could very well get tied up in probate if the family is unable to make and agree on how to distribute her money, personal treasures, music, etc...
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• Financial Power of Attorney (POA) this allows someone to manage your finances or business affairs should you become unable to do so.

 

• Healthcare Power of Attorney (H-POA) is to allow someone to make decisions about your medical treatment if you are unable to.

 
All of these things are important and if you haven’t put something in place, you need to get moving. An illness or an accident can change your entire world for you and your loved ones.

Now let’s assume you’ve taken the step to restore your credit and things have greatly improved.   But the thing about restoring your credit also means you need to understand and become financially educated. It would be a shame to get all this done and create a disastrous situation all over again.

The last thing I want to bring up is to ask yourself - are you on track to be able to reach financial freedom at this point in your life?

In other words, getting to a Debt – Zero status… It is possible but, you need a system and a budget to get you there and again this is how and where financial education is vital to all of this and what I have talked about.  And you know what? If you’re finally tired of being DENIED every time you try to get a new car, credit card(s) or being able to buy a home for you or your family, then guess what? I can help you get ALL of this handled and more…

Don’t delay this any longer, remember credit is “Power” let’s get your Power back! And we can get started doing that today!

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