 I was 21 years old and in love. I had recently met a beautiful young woman at an INROADS leadership conference in Grand Rapids, Michigan and I was a year away from graduating with a finance degree and no student loans. She asked me a question that changed my life. "What is your credit score?" I thought, what is a credit score? Little did I know, that there were 2 unpaid bills in my name that I didn't sign up for, and 3 unpaid hospitable bills due to an insurance lapse I didn't know about. Here's what I did to fix my credit score. (Spoiler Alert: that young lady is now my wife of 12 years!) 1. Contacted All the Companies I Owed I owed the hospital, a doctor's office, the cable company, and the electric company. Why do I say I owed them even though I didn't sign up for the services and I thought insurance covered the hospital visit? Because I was responsible for my own credit. The electric company said I needed to file a police report if there was identity theft. I did not do that because I didn't want to hurt a family member. So I asked if they would accept a lower amount if I paid it that day. They said yes! I did the same thing with the hospital and created a two-part payment plan. 2. Signed up for a Secured Credit Card At the time U.S. Bank offered a secured credit card, where you put money in a savings account equal to the amount of the credit card limit. If you don't pay off the credit card then the money from the savings account covers it. With my credit score this was the only way I could build credit. I started with $250 and after 2 years my credit score improved 200+ points (it was pretty low). After 3 years I was able to increase the limit and receive a check for my savings balance. 3. Moved in With Family After I graduated from BGSU, engaged and ready for life, I had to move in with my aunt and uncle to save money and focus on rebuilding my credit score. This was beneficial to me for more reasons than one. I also learned from their 30+ year marriage. While I lived there I paid rent, read several books, and began planning my financial future. As as a result of these decisions, my wife and I were able to buy our first home at 24 and I was finally able to buy a car in my name at 28. Today my credit score is 400 points higher than it was nearly 15 years ago. - Vontoba Terry Author, Entrepreneur Resources: AnnualCreditReport.com (free)
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There are plenty of factors that play into you becoming the best employee or employer or entrepreneur you can be, and if you’re smart, you’ll never be finished trying to improve in this aspect. For many people, one of the biggest challenges to be faced is gaining confidence in the workplace, whether it be in presenting work to colleagues, having conversations with a higher-up, or just being able to calmly put your best foot forward as an important piece of an organization. It’s not easy being able to look and feel like your best self if you feel like even your best self pales in comparison to the great minds of the organization you’re a part of. Maybe you’re stuck in a toxic corporate culture that fails to recognize your value, working with colleagues who have a perception of you that you think you can’t escape. In any case, it’s important that you’re able to gradually expand your repertoire as a businessperson and exude the confidence that not only draws people to you and your ideas, but also allows you to unlock a new level of greatness and fulfillment in whatever position you’re in. Speaking from personal experience, it takes some time and a lot of hard work, but the payoff is absolutely worth it. When I started off, one of my biggest challenges was distractions. Things pop out throughout the day and you’re forced to deal with them, and more often than not it’s not the way you planned for things to go. It can throw you off your game and change your attitude about your work; when you feel like you’re not in control, confidence wanes because confidence is all about being in control of yourself and how people see you. As I moved forward in my career though, other things proved to be unique obstacles, such as budget limitations. Not having enough money can keep you from being self-assured about the quality of your work, and if this is work you’ll have to share with others (which you most likely will), you may panic about all the things that could’ve gone better. Once again, you have to realize that the only things you should worry about are things you can control. With your portion of time and resources, are you giving your best effort to contribute to the goals and progress of your organization? If so, you have to step into the spotlight as confidently as you can and let it be. What are your biggest challenges in building confidence? Let me know in the comments below or tweet them to me with #ConfidenceCrashCourse! You can also learn more by following me on Instagram, Twitter, and Facebook @vontoba |
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