Tip #43: Save
One of the best ways to ensure that your credit rating stays good is to save money each month. Whether you are able to save $25 a month or $200 or even more, saving and investing your savings will prepare you for financial emergencies, will get you out of overspending, and will allow you to build investments that can help you in later years.
With savings at your bank, you don’t have to worry that sudden illness will make you unable to pay your bills, resulting in dings on your credit.
Saving ten percent of your income is a nice, reasonable goal. You can use your invested savings to make certain that your debts never get overwhelming. Most employers and banks will even deduct a certain amount of money from your paycheck or account each month to be put into investments.
This can be a very convenient way to save, as you are unlikely to miss or spend money you have taken out before you can get your hands on it.
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