It appears people make more money if they are happy in their life, according to the Huffington Post. They encourage their own welfare, have a general optimistic approach, have an increased productivity, and so much more. But life has responsibilities, and money problems are a reality for millions who are just trying to stay afloat. So where does the cycle start? We think it begins with improving your credit score, and the rest will follow. We’ll tell you why.
Every person who has ever had credit whether it be a credit card or loans has a credit report. Which is a essentially a person’s financial portfolio. It shows each detail of what has happened with their finances since appearing on the grid. A credit score is the representation of their finances in the form of a number between 300 and 850. The higher the better, because the person presents less risky of an investment to a bank, lenders, landlords, etc. Yes, landlords. A number many have never checked may decide the ability to rent a home.
STATISTICS PROVE CREDIT SCORE MATTERS
The 2017 average credit score in the United States is around 695, a great and high score, states Value Penguin. But the debt in this country is overwhelming and is one of the largest details in the downfall of a credit score. “Over the last decade, average debt from credit cards has grown at a faster pace–raising by 52% since the year 2000,” writes Value Penguin in another article about credit. The same article shares that the total debt for consumers in the US is essentially $4 billion.
USA Today reports that while Baby Boomers and Millenials are being rather positive and smart with their debt, Generation X is having trouble. “Consumer confidence is up sharply and the Federal Reserve said this week that credit card debt hit a new record in November,” the article states. “That’s a good sign for consumer spending but could spell trouble down the road if the economy and labor market weaken.”
With data from 2015, Value Penguin shares statistics showing that around 20% of those surveyed in the United States do not glance at their credit every month. For young adults (age 18 to 29), not even half pay their credit balance every month.
If everyone could raise their credit scores and save money, they could do more to enrich their lives. One of the biggest things a person could to bring themselves happiness is travelling.
BUT WHY TRAVEL?
Forbes explains it well in an article that highlights a study done and analyzed personality traits after travels. It concludes, “The more open they became to experiences they were not previously accustomed to (Openness), and the more perspective they gained about their life as a whole (Emotional Stability). In other words, travel makes you a more open, emotionally stable person.”
From what the writing highlights is those who travel live more in the ‘now,’ have more mental stimulation. They believe experiences are worth more than material possessions, and are collected in times of stress or panic. Not to mention better socializing skills, all of which help immensely in day-to-day life, wherever in the world.
“From a happiness perspective, there is no better way to spend our money than on positive experiences, with travel being near the top of that list,” the article declares.
The numbers show more people realize the value of seeing the world. USA Today reports information on 2018 travel trends for those in the US, social media is playing a huge part in inspiring millennials to hop on a plane. Since Baby Boomers are around retirement time, they are likewise turning to travel for their funds.
“When you travel, it pushes you out of your comfort zone and it fundamentally changes your perception of yourself, your place in the world, of others. It fosters greater understanding and awareness because travel is all about celebrating the differences and recognizing what makes us all similar,” Upchurch expresses. Positive and pure relationship develop, and, “You’re transformed because of your travels. And in that sense, and many others, travel is a force for good,” he adds.
Will Hatton, also known as The Broke Backpacker, is a British traveler, blogger, and some could say a social media sensation who makes a living from traveling. Have a look at his Facebook, Instagram, Twitter profiles and the tens of thousands of followers he has. The Daily Mail wrote about his travel adventures in 2015, and includes he wants to have checked 100 countries off his list by the time he is 30. So far as a 26-year-old, has been to roughly 50.
Hatton claims a thousand reasons exist why everyone should get the travel bug. He is more patient and kind than ever before, and can re-invent himself whenever he wants. Before starting his adventures, he claims he was a decent squash player. Now?
“I can speak three languages, I can design an entire website from scratch, I can survive in the desert with little more than a compass and a packet of sherbet lemons. I can read a map, I can barter for a group discount and I can function on just two hours sleep!”
Everyday problems that once sounded vital don’t matter too much anymore. Hatton explains, “Suddenly, first-world problems, such as your iPhone charger not quite reaching the bed, really don’t seem like that big a deal anymore. When you’ve met with some of the world’s poorest people and see how they are happy with a simple existence, it really does change how you feel about material possessions.”
But, yes, money is typically a necessity for travel. Perhaps not as much as some may think, a good financial state would be favorable either way.
BE IN THE RIGHT FINANCIAL STATE & USE TIPS
Start with improving your credit score and figuring out what kind of credit user you lean towards the most. We do that here at America Credit Fix. You’ll have more financial security and wiggle room to use your credit while you travel.
Canada Credit has good tips on the primary steps to take to bring up your credit score. They range from having the right motivation to how to handle credit history. It also goes into detail of why someone should have multiple types of credit. They also delve into how much of a part credit score plays in almost every situation of a person’s life.
Opening new credit cards can also be helpful, if done wisely, claims Business Insider. Scott Keyes, “travel expert” spoke to the business news website and shared how he has many credit cards. But he always takes the time to always pay off the balances he needs to. Plus, he keeps track of what his credit score is.
But while on the experience of a lifetime, keeping your mind on finances should be a priority. Search for deals, haggle, make a budget and stick to it. Know the details of what and where you are spending.
Here’s some last advice from Will Hatton for motivation.
“Get on with it, just go and don’t look back. If you spend your whole life waiting for the perfect time, the perfect companion or the perfect destination to go traveling then you may never end up going.”