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You Go to the Gym. You Workout Daily. But How is Your FINANCIAL Fitness?



During the process of mortgage pre-qualification, many questions get asked. Among those questions are those pertaining to the applicant's credit and credit scores. This isn't surprising at all, given the enormous importance credit plays in mortgage lending.

What is surprising to me though, is NOT the number of those applicants that don't know their credit scores. Nope. It's the sheer number of those people that think they DO … and then are totally wrong. It turns out they truly have no clue just how "financially fit" they are.

Now I'm not talking people that are trying to misrepresent the reality of their credit scores. That happens, although I don't understand why someone would try this. I'm obviously going to find out the truth when their credit report is run. No, I'm talking those that honestly do not know. And being in the dark about credit and credit scores? It's just not financially healthy.

Credit, and credit scores, are written about and talked about often and in great detail everywhere … and there's a good reason for that. Now more than ever, your credit scores play such a huge part in what you are charged when buying items. Or whether you get those things you want or need to live or work.

Credit scores can be the bottom-line determinate as to whether landlords will rent to you. Whether you will get a utility company to turn service on in your home, apartment, or business when you apply for it. Whether you can get a cell phone provider to put you under contract for cell service. In today's world, all very important things.

Nowdays, you must carry car insurance to drive. What you pay for that auto insurance will be dictated by your credit scores. Other insurance premiums will be affected, as well. Those credit cards with the low low interest rates that you see advertised all the time? You won't be eligible for them, if your credit scores are too low. Credit scores can't just matter to you when you're hoping to buy a home …

Everything related above is why it's so important for you to get aware … and stay aware … of your credit scores and credit standing. You have to pay attention on an ongoing basis.

Look at it this way … Your financial health needs must be addressed much like your physical health needs do. You need a yearly financial check-up, just like you do with your physical check-ups … only your financial check-up is the act of running your credit report at least once per year.

Again, you don't become financially "fit" just when you're hoping to buy a home. Being knowledgeable about your credit and your financial health should be a lifelong and ongoing regimen. So get knowledgeable about your financial fitness. Find out your credit scores and then stay educated about maintaining and improving them. There will never be a better time than right NOW to get started …

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