Why Debt Free Living is Dangerous

I'm all for paying off your debt but there's something in the debt free lifestyle that could cause you just as much stress in the future.  

Here I'll show you why debt-free could be dangerous and how to manage your credit to keep your options open. 

Pros and Cons of Debt Free Living

Living debt free in this modern era has its own advantage and disadvantages. In the US, a student loan can help you get an education and increase your earnings potential. 

Everyone wants to do their debt-free scream but are they setting themselves up for pain in the future? 

Is Debt Free Living a Mistake?

It’s not that managing your debt or paying it off is dangerous. I pay my credit card balance every month and fully support the need to get out from under your debt.

Is Debt Free Living a Mistake?

Potential employers and landlords can also look at your credit report. It’s totally legal and could keep you from getting the job or home you need. Becoming debt free is one thing but you still need to manage your credit score.

Is Debt Free Living a Mistake?

How to Build a Perfect Credit Score

The first thing you need to do to fix your credit score is to get everything bad removed from your report. You can file a dispute with the credit bureaus to remove the mark from your credit report. 

Managing Your Debt and Your Credit Score

Our second trick to fixing your credit fast is to pay down revolving debt and asking for a credit limit increase. 

Managing Your Debt and Your Credit Score

Your credit score hates revolving debt like credit cards. That’s any debt without a payoff date or a fixed monthly payment. So when you’re prioritizing debt payoff, make extra payments to your credit cards first. 

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