My Credit Journey Workbook

 Introduction:
Welcome to the start of your credit journey. This workbook is the first step towards your
understanding of credit and its profile. We will walk through some clarifying questions to help
you dig deep into your perception of credit. This workbook will require your full commitment in
order for you to be successful. Below simple steps will help in your journey in building or
restoring your credit. I hope that upon completion of this workbook, you will fully understand
the value of your credit.

 Credit Ideology:

What are your Goals?

Goals are essential for everyone’s journey, as they help in accomplishment of dreams. It helps
you to create a successful roadmap. In the spaces below write down 3 goals pertaining to your
credit.

 Goal 1
 Goal 2
 Goal 3

Find Your Why?

Simon Sinek, the author of the book “Find Your Why”, writes that is only when you understand
your “why”, you’ll be more capable of pursuing the things that give you fulfillment. In the space
below, write down your credit “why”.

If you had to do it all over again, what you would tell your younger self about credit?
Think back and reflect on some of the things, you wish you would have known about credit at a
younger age. Now speak to your younger self and use the space below to write it down.
I first learned about credit when I was… (Use the space below to write your first experience
and lesson learned about credit).

What habits do I need to break in order to maintain a healthy credit profile?

Habits can be tough to break, but understanding how they take shape may be helpful in
replacing them… (Use the space below to identify bad credit habits that you need to break).

What is your spending matrix?

This step consist of pulling together your purchase history, to answer and assess your spending.
Use the budget spreadsheet to help you with this assignment. This step will help you identify
spending habits and show how your money is being spent.

What steps do you need to take in order to improve my situation?

Please use the space below to write down the steps you are willing to take, to improve your
credit or financial situation.

 Understanding Credit Methodology:

Do you know how to obtain your credit report?

If yes, pull your report and review your credit profile. If no, you can obtain a free copy of your
report from https://www.annualcreditreport.com/index.action. This report will only provide
you with your credit profile and data; however, it does not provide you a score. If you would
like to obtain your credit score, for a fee these two services will provide your credit report along
with your score.

 Identity IQ https://www.identityiq.com/sc-securepreferred.aspx?offercode=431259VI

 Smart Credit www.smartcredit.com/BMWLLC

Your credit profile consists of five key components:

 2. Debt ratio 4. Mix of credit
3. Average age of credit 5. Inquires

(Using the spaces below complete each of the fields).

 What is my payment history?

 What is my debt ratio?

 What is my average age of credit (credit history)?

 What mixture of credit do I have i.e credit cards, car loans, mortgage etc.?

 How many inquires do I have?

Looking at your profile, what does it say about your credit habits?
(In the space below, write out your thoughts about your credit profile).

Although your credit profile is important, knowing and understanding your credit score is just as
important. This score follows you forever and will play a huge role in many major financial
situations.
Review your credit report and write down your current credit score. _____ What is your
desired credit score? ____

Congratulation! You have completed your credit journey. You have learned what formed your
credit perceptions, what habits you need to break and finally understanding your credit profile.

 Your Next Step is to Take Action!

You can purchase the companion DIY Credit Repair Guide to help you in this process.
*Bonus Material
Budget sheet
Payment schedule