It is very common to see people spending more money than their means. What they do not realize in doing so is that they can face an emergency at any point in their life. Therefore, it is crucial to be smart with your money. It means that you need to plan your budget before you spend your hard earned money. Always, pay your rent and bills on time. This will not only save you from going in debt but also ensure a good credit score. In life, it is hard to know if you are going to face a disastrous situation in future, when you will be in need of money. In such times, only people who have a good credit score can get a loan to deal with the situation.

Here’s what you should do if you have a low credit score:

People who have a low credit score still stand a chance to get a loan. Now, it might be tough for them to get an unsecured loan as they already have a bad history of paying their debt. Therefore, taking a secured loan might be the best option for them. In the case of secured loan, they need to put their valuable belonging as a collateral to the lender. Car pledge [จํานํารถ, which is the term in Thai] is the most common option of collateral by many people, while taking a secured loan.

Consider raising up your credit score if you have some time:

If you have the option to put the loan off for some time when you are low on credit score, then this might be your best bet. You can always raise your credit score just by paying your dues on time. Firstly, if you are using multiple credit cards, then you should cut that down to only using one. This would increase your credit score dramatically.