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I’ll never forget the time I visited my local payday loan store because I had no credit card or savings to buy gas and groceries. I wrote a check for $60, and the clerk handed over $50. Then I slinked out in shame, praying that no one I knew would drive past.
Payday loans are a bad idea, and you can become ensnared in debt, so I’m not recommending payday loans. I’m just showing you what your options are when you have crappy credit.
When I was in my twenties, I wasn’t good with money and had a low-paying job, which led to past-due payments, a defaulted student loan and a poor credit score. However, over the course of a few years, I improved my credit. As a result, my life improved significantly. Yours can too, even if you’re at a point where only a loan shark would extend a high-interest hand. An easy way to start building your credit score is to open a credit builder account like Self Lender.
Paying off debt and improving your credit isn’t “simple,” as I read recently on one personal finance site. Still, once you gain momentum, it becomes easier as you watch your debt go down while your credit score rises. Then life starts getting better.
Here are seven ways your life can improve once you start taking your credit seriously.
