[The following post has been brought to you in conjunction with Lindgren Financial, read our full disclosure here]

Whenever a spouse has bad credit, it can hurt your ability to apply for credit together. There’s nothing you can do about it. A lender will see one negative score and reject even a person with a spotless credit record. This is why it is a good idea to help your spouse begin rebuilding their credit record as soon as possible.

Nevertheless, this isn’t always easy, especially if the person refuses to recognize they have a problem.

Sit them Down

The first step is to sit them down and have an honest chat to them about their credit record and what they can do about it. In many cases, people are completely dismissive of their bad credit scores, or they didn’t realize they had a bad credit score.

You should have this chat alongside a copy of the person’s credit record. At the same time, check that the credit record does not have any mistakes on it. Mistakes can make a credit score look worse than it really is.

Lead by Example

We have always assumed that you have a good credit record yourself. Don’t attempt to preach to the choir if you aren’t practicing what your mouth is spitting. You cannot expect anyone to listen to someone who doesn’t lead by example.

Start by practicing good financial habits yourself.

Form a Household Budget

The foundation of good credit is good money management. This is where you learn the basics of managing your finances. A household should know exactly what is going in and what is going out every month of the year.

It doesn’t have to be complex or exact to the cent. As long as you know roughly, where you stand, this will enable you to avoid getting into debt, meet your obligations, and gradually improve your spouse’s credit score.

Begin with Debt

The first priority is to make sure your spouse is paying off any outstanding debts. Student debts and mortgages are long-term debts. These are acceptable to hold and they will not hurt your ability to get credit if you are paying them down every month. Any other form of debt is a problem and should be paid off immediately or at least get a better rate.

If you have many debts, see if you can pay off some of the smaller ones with a lump sum, if you have it available.

Set Up a Joint Account

Sharing an account is a big step, but it could help a spouse rebuild their credit. If your spouse doesn’t have an income, they may have problems getting a credit card because they don’t have any way to pay it back. With a joint account, this becomes possible because you are jointly liable for any associated debts.

This can help your spouse build their credit score without the need to have a separate income for themselves. It’s particularly useful if they don’t have a job because they’re a full-time parent. Be aware that this requires a lot of communication to make it work. Don’t activate a joint account unless you have good communication.

Conclusion

Finally, be aware that this is a process that can take years to complete. There are no quick fixes for credit. Nevertheless, if you start rebuilding as soon as possible, you can reap the benefits faster.

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We are having a good run right now!!!! Woohoo! I can’t hide my excitement. This weight loss has been really slow-going for the both of us and after the creeping on the scale and even the recent gain, it feels good that we are seeing some real movement. On to the numbers!

Weigh In

Food: How’d We Do?

Khaleef: The ill effects of the Crohn’s attack are pretty much behind me, so I have been able to eat normally for the last couple of weeks. Because of that, it’s been easier to hit my calorie goal for the day, but that also means that I am getting hungry earlier and I have to be careful with snacks throughout the day.

Sherrian: Well, the first week that I saw loss is because I ate pretty well. I’ve been having a lot of soup and then roasted chicken with salad for dinner. Then last week, I dealt with a bit of migraine pain so I couldn’t cook and my eating suffered. We ate out a few times. I actually hated it. I am looking forward to getting back on track so I can keep moving forward.

Exercise: How’d We Do?

Khaleef: Since changing my steps goal back to 5,000 per day, I have been able to hit my goal 5 days in each of the last 2 weeks! The next step is getting on the recumbent bike and using the exercise ball I got as a Christmas gift.

Sherrian: I haven’t exercised really with everything going on. My migraines were pretty bad and then fatigue and body pain were there when the headaches weren’t. (Yes, exactly the same as last time)

You Want To See Our Faces, Don’t You?

Of course you do. We posted a video on our YouTube weight loss channel talking about our weight, getting a new start, and our goals for the upcoming week. Watch the videos below:

Weigh-In

Khaleef here: The last time I weighed myself the scale hurt me by reading 307.8. This week (actually, it was last week since I wasn’t able to get on the scale this week) the scale read 303lbs. That means I lost 4.8lbs in the last 2 weeks!

Sherrian: I lost 5 lbs over the last couple weeks! .2 lbs over you-know-who *cough* *cough*, but since this is NOT a competition, I am just really happy with the loss! I am down 10 lbs FINALLY and I am excited to keep going.

You Want To Lose What?

You read that title correctly. We want to lose 250lbs combined. Once we are both comfortable with sharing our weight, then we will talk about how that goal breaks down between the two of us.

We have now lost 30.8lbs as a couple and have 219.2lbs to go in order to hit our goal.

So now this blog has turned into the story of us losing 250lbs while paying off over $100k of debt at the same time!

Next Week’s Focus:

Sherrian: Exercise! Exercise! Exercise! I know I sound like a broken record, but I am going to keep trying!

Fat Guy (Khaleef is boring): I still want to get at least 5,000 steps in at least 5 days, and I am trying hard even with this frigid weather and 25-30 inches of snow on the ground. A friend gave me an exercise ball for Christmas so I can try to do exercises that strengthen my core without added strain on my back, and I also plan to do work out on the bike at least once in the week.

Follow us on social media so you can support us and hold us accountable!

 

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How to Earn a Side Income with Currency Trading

January 18, 2016

How to Earn a Side Income with Currency Trading Listen up folks, I found a good way to gain some more weight. I’m not talking about my belly, obviously, but about my wallet. And about yours, too. I’m talking about currency trading, I just discovered that recently and I’ve made some money with it. This […]

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250lbs to Lose – Weigh Ins #7 & 8

January 7, 2016

Happy New Year everyone!!!! In the spirit of the New Year, we hope you’ll give us a reprieve for missing out on the last few weeks. We BOTH experienced some serious health issues and then coupled with the holiday, we got SERIOUSLY thrown off from online activities! (We share the details of the health stuff […]

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The 52-Week Savings Challenge 2016 – How To Save Over $1400 With Little Work!

January 5, 2016

Back in 2014 (I can’t believe I can actually write “back”) we took part in and hosted a 52 week savings challenge. We, along with those who took part, were able to add over $1,400 to our savings account by following this simple plan. We skipped the plan last year, but have decided to bring […]

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250 to Lose – Weigh In #6

December 14, 2015

We’re into December and we wanted to start off strong! Khaleef wants to lose around 4 lbs a week and I’m shooting for 2 lbs. Let’s see how it went… Food: How’d We Do? Khaleef: My eating was very good for the week. There were really nothing major that happened good or bad. We purchased […]

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