Having a good credit score is everyone’s dream and may seem to only be a dream if you are in a sticky financial situation.

But no matter your financial situation, your credit score can always be improved, especially with the help of a credit coach.

What does a credit coach do?

A credit coach is someone who offers guidance relating to what parts of your credit report could be limiting you financially and are likely to negatively affect your credit score. Examples of this would be paying up accounts that are in arrears, assisting in the dispute process of judgments and defaults, or consolidating your debt to free up cash and reduce financial stress. A credit coach also provides strategies on how to improve credit scores and how to use your credit report to get ahead financially.

Do you need a credit coach?

Regardless of your financial situation and existing credit score, a credit coach can make a difference to you.

• If you have a low credit score and need assistance in reaching financial stability, a credit coach can help you to budget, develop a payment plan for your debt and set specific goals for you that will improve your credit score over time.
• If you have a good credit score, a credit coach will show you how to maximise the benefits of a good score to get reduced interest rates and credit terms which can save you thousands over the term of your home or vehicle loan.

 

Kudough offers unlimited credit coaching as part of its premium package.

Here are five ways a Kudough credit coach can help you:

1. Fix and improve your credit score. No matter the state of your credit score, there are ways to improve and repair it if needed. For example, making constant and stable repayments towards your debt can drastically improve your credit score. A Kudough Credit Coach will also be able to guide you in logging a dispute/disputes if you have inaccurate judgments or defaults on your report.
2. Manage any existing debt. A credit coach will assist you in understanding your short-term and long-term debt and how these should be managed. They will assist you in understanding what repayments are required according to your report for you to plan correctly to reduce your debt. One way to reduce debt is to formulate and follow a strict budget. This gives you control over your expenses and helps you to figure out which expenses are necessary or can be reduced. Not sure how to budget? That’s ok, a Kudough Credit Coach can guide you and give you the right tools to get you started.
3. Save money. Saving money is an important part of gaining financial stability. A Kudough Coach can help you identify how much you can save monthly. This is something most South Africans are not that good at. What many don’t realise is that saving is about more than just depositing money into a savings account every month. Monitoring your spending, and not paying for food and other expenses using credit are some others. Excessive use of credit attracts more and more interest and accumulates unnecessary debt in the long run.
4. Get more GOOD credit. This may not seem like a wise step, but there is such a thing as good credit which can be used to your advantage to get ahead financially. A Kudough credit coach will help you identify which of your existing credit is good or bad. Your credit coach will also advise about the best offers that Kudough partners provide and how best to manage your credit to show credit providers that you know how to manage money while you improve your score.
5. Achieve your financial goals. Following the advice of your Kudough Credit Coach and completing the online goals will lead you to achieve your financial goals. It’s a great feeling knowing you are in control of your finances and that you are planning for your future. Knowing your credit score and understanding what you’re spending money on will open your eyes. There is no doubt that you will think about money differently.

In Conclusion

Achieving a healthy credit score and improving your financial situation is a journey. It’s a process of corrections over time but with your Kudough Credit Coach you can be guided on this journey and you don’t have to do it alone. Get in touch with us today and take control of your future.

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