A good credit score is important for more reasons than just obtaining new credit. These days, it can factor into everything from landing a new job to getting the best deal on your insurance policies. It's more important than ever to avoid late payments on your mortgage!
What can you do for missed payments?
Plan for the unexpected. Maintain an emergency cash reserve account equal to at least 3 months of living expenses or more.
Automate. If you're prone to forgetting or don't have a scheduled time to sit down and pay bills, set up auto payments through your checking account or put a perpetual reminder on your calendar.
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