The Financial Implications Of Your Reputation

How often do you really think about your reputation? If you live a fairly basic, somewhat vanilla life, the answer is likely to be “rarely”. If you generally play by the rules and try to do the right thing, your reputation is something you don’t have to worry about… isn’t it? Surely only people with a bad reputation have to worry about what others might think of them?

In 2018, everyone has to care about their reputation

Our reputations are more important in modern life than they ever have been before. The reason for this enhanced importance is simple: it’s easier than it’s ever been for news of a stain on your reputation to spread. Thanks to the internet, a bad reputation can quickly be shared with hundreds and thousands of people, so taking the necessary steps to ensure your reputation is in good condition is a worthwhile use of time— because your reputation decides everything nowadays.

Your personal reputation can impact your professional future

If you are applying for a job, your reputation is everything. As well as the standard working reputation you will have built up over the years, your reputation on a personal level is also important. If you have a criminal record or a history of driving bans, then this can and will influence your ability to get the job you want and earn the wage you deserve— even if you have a stellar professional reputation.

So, what can you do to protect your reputation for the sake of job interviews? Simple— play by the rules, and if you are accused or any criminal activity, do something about it. While complex, fighting a DUI charge and other similar convictions is vital to protecting your ability to further your career as you hope.

Your financial reputation decides your financial future

Your credit score is, in essence, a massive marker of your reputation. It tells companies whether you can be trusted to repay the money you are loaned, and it can even influence the overall amount you pay for borrowing privileges. Furthermore, in the modern world, credit scoring is used for more than financial loans; a poor score could, for example, cause you to be denied internet service or a mobile phone plan.

To protect this aspect of your reputation, you’re going to need to examine methods of improving your credit score to ensure the number is as high as it can possibly be. This will allow you to achieve the lowest, most preferable borrowing rates and also help you to achieve your dreams in terms of the kind of properties you want to live in and investments you want to make. There’s a great starter guide to doing just that here, and improving your credit score — even if it’s already good —is a great way to protect your future finances.

In conclusion

Reputation is more important than it has ever been before, so working on yours is always going to be a worthwhile endeavour!

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