Quote:
Originally Posted by kevinbahnz
I would like to think about my retirement but for right now i'm just trying to get to a debt free life. I was debt free for about 5 years until last year when i bought my first house then I went on a spending spree. I think I live pretty well below my means I just lost control after becoming a homeowner. The house is only 1x my income and will be paid off in 10, X5 in 3 years and CC in 2 years. Whatever I have left goes in the mattress.
|
Debt free is king (I'm not 9 yrs left on house). What's interesting is the FICO score myth. I've borrowed money, pay it back, every time I apply for a cc they give me >25k. Never paid late. I know my score is north of 850. Stupidly, have about 15 cc's.
Our credit union was offering free FICO scores. My wife, owes nothing, paid cash for her Audi, uses two cc's for rewards and like me pays in full every month, never had an installment loan. Paid late once because she cosigned for a relative, stupid, never do that.
Turns out, my wife's score is higher than mine. There goes the myth you should owe and be paying back to increase your score.