References Mentioned by Marcus on This Show
- 4-Step Plan for Improving Your Credit and Tackling Your D.E.B.T.
- Define the problem
- Call to Action: Visit AnnualCreditReport.com to obtain your free credit report and see how much debt you really have. You can also check for errors and incorrectly reported information.
- Establish a plan
- Call to Action: Download our free debt & money planning guide, read Marcus’ eBook – Debt Free or Die Trying: A Simple Guide for Creating a Debt Free Plan You’ll Actually Follow, or use BankRate’s calculators to design a debt payment plan that fits your lifestyle.
- Build a Budget
- Call to Action: Download our free “15 minute Budget” tool, and read Marcus’ piece for GoBankingRates: I Used Mint Wrong For Years and You Probably Are Too for tips and tricks for successfully using this popular budgeting app.
- Trust the Process!
- The time is going to pass. A good plan will ensure your credit rises and your debt lowers during that time.
- Define the problem
- NerdWallet: How Marcus Garrett Used a 50/30/20 Budget to Ditch Debt
- Experian: What Is a Good Credit Score?
- Your payment history (35 percent)
- Your debt usage ratio: how much you owe in relation to your credit limit (30 percent)
- How far back your credit history goes (15 percent)
- New credit (10 percent)
- Your mix of various types of credit (10 percent)
Other Recommended Tools & Resources
- Paychecks and Balances – Debt Free Planning
- #AskPB: PLEASE HELP: I’m Struggling to Pay Bills and My Credit Score is 460
- CBSN: Making Your Money Matter ft. Paychecks and Balances
- GoBankingRates: How to Build Credit History When You Have No Credit
- BankRate: Best Credit Cards for Rebuilding Bad Credit
- PB73: Mastering Financial Independence and Student Loans with Robert Farrington
- NerdWallet: Average Household Debt
- ChaseBank: How Just An Extra $10 a Month Can Cut 11 Years off Your Debt Payment
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