If your debit has been flailing since the day you were paid, perhaps it is time that you review your credit score management, especially if you are planning to buy a house. It is high time that you rebuff your credit profile. To ensure that, here are some easy steps you can undertake:

  • Set a goal: The ambition of better savings solidifies when you have an end goal in mind. This end goal could be saving for a property. Putting aside some part of your salary helps you in maintaining a buffer balance which also significantly improves your credit score.
  • The 50/30/20 goal: This rule has been popularized by Elizabeth Warren, the famous US Senator and bankruptcy expert. She says that everyone must reserve 50% of their salary for essential expenses, 30% for personal expenses and 20% for financial goals. You may even create a separate savings account to deposit the 20% of your salary in.
  • Maintain a sustainably running account: Assuming that you have multiple accounts for your expenses, it is always wise to maintain a single account, that must be the oldest, and be prudent with maintaining its status. That way, you would actually have evidence to show your financial management skills for a better credit.

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