It’s always important to carry and maintain good credit, even more so when we reach an age where major purchases are to going to be made. Purchases such as a first or second home. Unless you plan to buy outright and pay cash, good credit is essential.

As we turn to midlife around the 40 year old range, most of us tend to take stock and assess where we are in life, what have we done, what do we own and so on. Usually on a path toward self discovery, we take on major changes such as a new career path, going back to school or sending older children off to college. One thing that follows us through life is our credit. Good, bad or ugly - it’s always their rearing its head and waving hello and letting us know how important it is in our lives.

If you have less than desirable credit even at the ripe old age of 40, there are a number of things you can still do to make it better. This article will touch on these things and help guide you toward some level of financial freedom.

1. Assess and Take Stock -

One of the first things you will want to do is to assess and take stock of where you are. Start by asking yourself the following two questions: 1. How much damage needs to be repaired and 2. how long will it take to fix it. Once you know the exact answer to these two questions, you will be in much better shape to move to the next step. It’s quite difficult to make big changes and fix a situation if you don’t know exactly what needs to be fixed and how it matters in the overall big picture of life. So first and foremost the road to credit recovery begins with a good assessment.

2. Start Small and Gradual -

Next step in the path toward credit improvement is to begin a small plan of action. Even small steps if done correctly and consistently - can lead to BIG results. These steps could take the form of a financial overhaul, wherein you and your family decide that this year you’re going to either reduce debt, increase income, trim expenses or a combination of all three. However the key is to execute your plan consistently; so for this reason - we advocate starting small. The odds of you sticking to your plan of action is much greater if you start small.

3. Make Big Changes -

This tip might sound like it’s contradicting our tip above, but we’re referring to an entirely different methodology here. The big changes we refer to here include things such as job changes, relocation, growing or reducing the family size by sending a child off to college, etc. These sort of big typical life changes can greatly impact your finances. Sometimes for the better, sometimes for the worse; but we are of course looking for improvement in this case. So in order to make recover from a bad credit spell, try making one big change such as changing careers or even moving to a less expensive location; these changes although considered drastic by some - might make the difference between bad credit for life and bad credit on a temporary basis. We say and advise that you pick your battles wisely.

4. Face It, Head On -

You might be surprised at how important mindset is in resolving issues such as credit. Sometimes a personal trigger is what is keeping us from moving forward in a positive manner. Maybe we’re trying to keep up with the neighbors who recently bought a brand new car, we now feel the need to upgrade as well - even though our finances might not be quite ready for a new car. So we finance it and add to our overall debt load. Things and events such as this can absolutely keep someone from recovery and onto financial freedom. We advise that you face your issues head on, make a commitment to improvement and march forward with a laser focus. In no time at all, your credit situation will improve and maybe even exceed your expectations.

Even at age 40 or beyond, credit chaos can be overturned and overcome. It’s all in how you deal with the adversity and how you move ahead that makes all the difference. Make a decision today (right now) that by this time next year, your situation will be vastly different and vastly better.

Author's Bio: 

Missy Diaz is a credit and debt blogger who writes tips for those looking for financial improvement. She covers credit tips for the UK market among other diverse topics. When she's not writing for the web, she is active on social media and also writes for numerous health blogs and sites.

You can find her online at Twitter or via her personal blog. Do come by and ask a credit question or two.