Preparing for Divorce in Mississippi: Step 6 - Establish your own credit
Step 6 - Establish your own credit
The sixth step in preparing for divorce in Mississippi is to establish your own credit. This is not the green light to make purchases. Rather, if you do not have your own credit history, you need to establish it now. If you have a credit history, protect it.
I usually do not advocate getting credit cards. The reason is the majority of people can’t manage credit card debt. They don’t pay off the card on a monthly basis and before long, are in serious debt. However, it is important for you to have your own credit. So keep it simple. One credit card (Visa, MasterCard, American Express) and one gas card used sparingly and paid off each month will go a long way to establishing good credit.
Remember, the point is not to take on more credit, but to establish your own credit rating, an invaluable asset following divorce. However, a good credit score is difficult to obtain, but easy to lose if you do not pay your bills on time. So the best advice is to not spend more than you can pay off each month.
