💰This number can quietly cost you

read time 2 minutes

Hi there,

When I first started learning about money, I focused heavily on saving and investing.

But there's another financial asset people underestimate: your credit score.

You don't get a monthly check from having great credit.

But it can quietly save you thousands of dollars.

Think about two people buying the exact same car.

Same price. Same down payment. Same loan term.

One qualifies for a competitive interest rate.

The other has weaker credit and gets offered a much higher one.

They're driving the same car, but one could spend thousands more simply to borrow the money. That's why building good credit matters.

And fortunately, you don't need to be rich to do it.

Here's where I'd start:

• Pay every bill on time. Payment history is one of the biggest factors affecting your score.
• Keep credit card balances low. Don't treat your credit limit like money you actually have. Ideally, pay your statement balance in full every month.
• Don't constantly open new accounts. Build a few strong accounts and give them time to age.
• Check your credit reports. Mistakes happen, and you want to catch them before you're applying for something important.
• Never carry debt just to "build credit." You don't need to pay interest to prove you're responsible with money.

And here's something else people forget: good credit is only useful if you still shop around. An excellent score doesn't automatically guarantee that the first lender gives you the best mortgage or auto loan.

Compare rates. Compare lenders.

And if you're buying a car, compare insurance offers too.

A few percentage points here and a few hundred dollars there may seem small.

Over decades, they're not. Building wealth isn't only about how much you make.

It's also about becoming the person banks compete to lend to and then being smart enough to make them compete.

Take care of your credit before you need it. Your future self may save thousands because you did.

Using my affiliate link helps support my team and I to create new content for you every week. Thank you! 

- Milan and Team

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