I'm 35. Divorced about five years ago, was clueless before then how to even deal with finances. I had no idea how credit worked, my paycheck was spent the day I got it while ex's got socked away. I kept track of every penny we spent because I had to report to him. I got in trouble once for missing $.17 in my accounting. Decided after almost ten years of marriage that was no way to live.
Sometime in 2003 I pulled my credit reports (not the scores, just the reports) and didn't understand them at all. Got my head out of my rear regarding my student loans, which I never had money to pay for, (so was ignoring them hoping they'd go away) and got them consolidated at a good rate in a nice program. In the last couple of years have done the annual free report, still not really knowing what to do with them or how to accurately decipher what was on them.
Still struggling with saving, have pretty good control over my cc's, am beginning to understand how to play the game. I don't worry about my SL interest, I can write that off. I don't make much money at all right now, am hoping that after taking 17 years to finish my degree (don't ask, long story) that I can get something in my field, which is difficult because of where I live. I've learned how to stretch what I have and make it work.
Bought a new car, an '05 in Jan. '06 for a great price because the dealer wanted it off the lot, had some savings then and took the minimum loan needed to get the financing and paid it off in April the same year. Now I know that might not have been so smart, but I was really starting over and needed a decent vehicle. I would have spread the payments out had I known then what I know now. (I do a lot of driving for my kids to get them back and forth to/from their dad's.)
I feel very lucky for having found this forum. I pulled my first FICOs this month. I had gotten my annual free report in Nov. '07, tossed it by Dec., then found this in Jan., and pulled my reports and FICOs. I feel powerful knowing that I am indeed (somewhat) in control of what is on my reports and that even though it can take time, it's well worth my time and money to know what my financial health looks like.
It's hard for me to not want to pull scores every few days. I don't have the money to do it, and I'm now obsessive about them, so self-restraint has become my mantra.
I wish I had known fifteen years ago what I know now. I would have kept accounts open, been far more proactive in knowing what was happening to my scores, and definitely be in rehab by now for myFICO Forums addiction.
Kudos to all here for work well done and for the awesome support system that works! I am a smarter, better person for "knowing" all of you!
wiwend
Message Edited by wiwend on
01-24-2008 11:54 AM