There have been a few moments in my life where I have been filled with so much joy through triumph that I just want to run through the streets jumping and screaming with glee. This is one of those days. After nagging my wife for what has been a few years I finally went to myfico.com to order my credit score.
For those of you new to the show I’ll bring you up to speed. I have personally been debt free for three years. I have no credit cards, no student loans, no car loans and no mortgage debt (I’m a renter and am currently saving for the 100% down plan when I buy my home). For payment methods I strictly use cash, one debit card and checks.
Enter the fico score. According to myfico.com a fico score is broken down as follows:
· 35% Debt payment history
· 30% Debt amounts owed
· 15% Length of debt history
· 10% New debt
· 10% Types of debt used
Dave Ramsey is right when he says that this is an, “I love debt score.” In my pursuit of wealth building I’ve held one core principal: Get out of debt and stay out of debt! So I know exactly where my net worth stands and where it’s going and debt will never enter that equation. So I wondered what my credit score would be after a few years of bludgeoning debt to death with a steel pipe and standing tall on the debt free mountain. So here it is, my credit score J
As soon as I get a chance the first thing I am going to do is print this bad boy out and use some of our budgeted blow money to get a beautiful frame to encase this gorgeous score report! I will happily send notice to everyone that you can prosper in personal finance and move up the socioeconomic ladder WITHOUT DEBT! Our household net worth has been steadily rising quarter after quarter and the most important factor in that is being debt free.
I will celebrate this achievement with both a relevant and overplayed trend, by going Clint Eastwood on my fico score.
Fico score: (blank stare)
Me: “There’s no need to apologize to me fico. An error has not occurred and I can assure you that every bit of my efforts and planning is true and well calculated. I don’t need nor want your score. I am securing my retirement, finding financial peace and changing my family’s destiny all without debt. Debt is NOT a tool to build wealth and prosperity. It is a one-way ticket to financial detriment.”
Fico score: (vacant gaze)
Me: Trust me dude, I did try pulling the score based on the Equifax report and got the same exact response from you. The best part of that one was that you told me to pull my report at TransUnion. Look, I enjoy breaking this news to you that I don’t need nor want you. It’s extremely personal and with the highest prejudice. Your influence in my family tree of financial ruin and mediocrity stops with me. From here on out my family will never look to you for approval. My family tree is heading towards prosperity and the type of giving that changes the world. And I am going to convince as many people as I can to do the same.
Fico score: (empty look)
Me: So what do you have to say for yourself?
Fico score: (nothing)
Me: Exactly my point!