I have seen this mentioned in a few of the other discussions, but Dave Ramsey has great advice for budgeting and paying off debt. The first step he recommends is setting up an emergency fund of $1,000. That may seem impossible to some people but really, you can't afford not to have an emergency fund! When you read about some of the creative ways that he suggests to building up that fund, anyone can have cash set aside in a few months, if not less. Don't rely on credit cards or loans. Get educated and make your money work for you! You don't have to be an accountant or even good with math to apply the principles to your life. It's counter-cultural to the way Americans spend today, unfortunately, but it's so worth it to be one step ahead of the game. And as the title suggests (Financial Peace University) having the peace of mind from knowing that you can cover an emergency is just one less thing to worry about as a military spouse.
Is there a way you can provide me a link to the article on USAA? I'd like to read it myself.
Also, how big of a ding can it be? I am recentlt divorced, and have over 20K in credit card debt, all accounts have been charged off for at least a year. Plus I have a repossession. My score before the repo was about 425, if I get a settlement, how much more damage could it possibly do?
I was able to find one of our articles on this topic:
'Blunders That Can Ding Your Credit Scores'
This is a good start to getting your questions answered. Thanks.