The 2018 World Cup kicks off this month and while the players have their heads down preparing to make their countries proud, we’ve been thinking about how some of the teams would do if, instead of playing football, they were making plays towards managing their credit score and financial goals.
So, first of all we’ve got Brazil – the most successful team in World Cup history.
They’re a team of naturally gifted footballers with a flair for goals. If this translated to their credit score we think they’d skilfully manage their finances and have a credit score that would make them look really attractive to lenders.
To be like Brazil when it comes to your credit score try to:
- Not let bills slip past you – when a bill comes in, always pay them off on time. Get organised and it’ll get you ahead of the game
- Use credit with precision to help you get ahead – A good tip is to keep any credit balances under 25% of your available credit at all times. This is one of things that shows lenders you’re a minimal risk.
Then there’s Germany, who after 24 years of getting close to the title, were the winners of the last World Cup in 2014. They’ve been working towards success and if this translated to their credit scores, they would be confidently taking steps to improve it.
To be like Germany, you need to channel their determination to improve and take some simple steps to make your credit score really shine:
- Take it steady – Use a little bit of credit responsibly and often. If you can show you’re in control of things when it comes to your credit, you should start to see your score improve
- Get on the list – Make sure you’re on the electoral roll at your current address. This provides valuable proof of identity when lenders are assessing any credit applications
- Don’t miss the back of the net when it comes to making payments – Pay on time every month, as it’s a great way to show lenders that you can manage your current finances
And finally, there’s England, who have struggled a bit to get success on the World Cup pitch for many years and despite their efforts, things do sometimes end in tears.
If this is how you feel when it comes to managing your financial goals and your credit score, try not to despair too much. There’s always things you can start doing to help things move in the right direction…
- New to budgeting? Head here for some hints and tips to get you started
- In debt and want to improve your credit score? Head here for some handy tips
- Struggling to get on the property ladder? Head here to our Millennial Money Hub