1. How Time Can Be on Your Side in Improving Finances Theres the saying: Time heals all wounds. While it may be clich, banking experts say that catchphrase will prove true in improving and maintaining your financial health. Whether it was the loss of a job, a divorce or an unexpected bill that got you into a fix, time can be used to your advantage in rehabilitating your finances.Click to edit the outline text format Second Outline Level Third Outline Level Fourth Outline Level Fifth Outline Level

2. Score Your Report After retrieving your credit report, carefully examine it for outdated negatives. MSN Money says credit bureaus are less likely to verify older collections. If they cannot confirm a debt or a collection, the bureaus must remove it from your record. Items that are more than seven years old should also be scrapped.Click to edit the outline text format Second Outline Level Third Outline Level Research whether or not a creditor is out of business or if it has merged with another company. Those records may be outdated and lack clarity.Fourth Outline Level Fifth Outline Level 3. Be Patient, Set Financial Goals It takes years to build a good credit report, so it will take time to repair one that has blemishes. It is not, however, impossible. Set both short term and long term goals to minimize your debt and improve your credit report. According to Credibility, a notfor-profit credit counseling agency, the main rule to minimizing debt and repairing bad credit is to spend less than you earn. That will give you more flexibility in handling unexpected expenses. The agency also suggested writing down your priorities, keeping your financial goal, and making adjustments based on changes.Click to edit the outline text format Second Outline Level Third Outline Level Fourth Outline Level Fifth Outline Level 4. Keep a Check on your Credit Score Maintaining good credit scores is a matter of planning your finances accordingly; therefore ensure that you practice healthy spending habits and do not indulge in any kind of activity that could negatively impact your credit score.Click to edit the outline text format Second Outline Level Third Outline Level Fourth Outline Level Fifth Outline Level