I have found that one of the best ways to multiply my money is by decreasing the amount of money that I have going out of the door. This means lowering my monthly expenses. By by improving your credit score 60 to 100 points, you can renegotiate the interest rate that you are paying on auto loans, home loans, personal loans, and credit car bills. Lowering the interest rate on your debt decreases the amount of money that you are paying in interest enabling you to rapidly attack the principal of your loan. That means getting out of debt even sooner by decreasing the length of the loan and helping to improve your credit score.
But first, you have to improve your credit score. Raising your credit score gives you the leverage to refinance the interest rates on your existing loans. You can renegotiate your loan to more favorable terms once you have a score in the 700‘s. Then you will reducing debt in no time! In order to place yourself in position to save on interest, watch the video below that teaches you credit rebuilding tips on how to boost your credit score.