I completely underestimated the importance of my FICO score. For starters, I could be working on my score, since it takes awhile to clean up, while I’m working on all this other stuff in Suze’s book. So while at first I just couldn’t understand why that was the first chapter, I understand after reading that chapter.
Also, it’s interesting to see the different things on each of the three credit reports and check for errors. There may be things on there that are hurting my credit score that I don’t even know about.
And by going to http://www.annualcreditreport.com, you’ll get your credit reports for free once a year. Then you go to the FICO site and you pay to check at least one of your scores, if not all three. It’s always goods to know where you stand.
In chapter 1, Suze covers the importance of making EVERY payment on time, and which ones to pay down first. She covered the importance of not canceling all your accounts at once and what that will do to your score.
So it looks like step one to financial freedom is first going through over 100 some odd pages of my credit reports and making sure they are accurate. Next, I will input every bill I have into a tracking program and see which ones to start paying down first.