How Bad Credit Can Cost You That Dream Job
Many people do not consider that having a bad credit record could affect their employment prospects. However, potential employers have a right to look at credit records and having a bad record may cause them to feel that you are not employable. The reason or this is that not being good with money may cause people to draw negative conclusions about you. Examples of some of these are explained in more detail below.
Bad Head for Numbers
If you cannot get your bank account to balance each month it may imply that you are not good at doing the math. This may or may not be the case, but if your job needs any sort of number work, then not being able to balance your household budgets could very much go against you. Most jobs do involve some sort of math and so a head for numbers, even the most basic arithmetic could be considered to be a key skill for someone in that role.
Not having good finances may suggest that you are not self-disciplined enough with your spending. It may imply that you will not be able to apply the right sort of attitude towards your work if you cannot apply it to your budgets at home. It could be thought that if you do not have good self-discipline with regards to spending habits then you may not have it with regards to your work ethic.
It may imply that you are disorganized if you cannot keep your finances balanced. It does take some organizational skills, to be able to make sure that the amount that you have coming in to the bank is the same or less than is going out. Not being able to balance this up could show a lack of organization. If a role requires organizational skills then you may be eliminated from the short list for this reason.
Not Good at Prioritizing
Being in debt may indicate that you are not good at prioritizing your spending habits. It may show that you are not good at knowing what should be paid for and what should not be purchased at all. Therefore it may be assumed that you will not be able to do this when you are working. Prioritization skills are important in most roles and so any implication that you are not capable of doing this will go against you.
It is especially important to show that you are good with your household finances if you are looking for a finance role. If you are responsible for finances in a business, then they will want to know that you are capable of looking after your own finances at home as well. It makes sense that they will want to be able to trust you to look after their money and would therefore want to ensure that you can do it for yourself.
It is therefore extremely important to make sure that you keep up with all of your bill payments and loan repayments. Missing any of these can have a negative effect on your credit rating and could cause a future employer to decide that they do not want to employ you.