I'm gonna get to the meat of this newsletter in a second, BUT FIRST...
I've got a little Dollarwise announcement.
Well, technically my lead engineer/tech guy/smash brothers enthusiast Jeremy has a little Dollarwise announcement.
(So if you don't like the new stuff, blame him.)
Anyway, here’s what’s new:
Custom categories are now available!
You can manage your custom categories from within your profile by tapping the “Manage Categories” option.
Also, you can now enable/disable built-in categories to streamline your UI.
Just as an FYI, when you disable a built-in category, it will change all transactions currently assigned to that category to “Other”. Then, if you re-enable a built-in category, any transactions that you did not change from “Other” will go back to the previous assigned category.
Merchant category memory: When you change the category on a transaction, if you have multiple transactions associated with that merchant we will now prompt you to change that category for ALL instances of that merchant, current AND future.
If it's a one-off, you can just ignore or dismiss the prompt.
Otherwise, future transactions for merchants with category memory should automatically be assigned to the category you set.
And here's a quote that Jeremy definitely said, "Please try out the new features and let us know what you think! Category memory is an entire brand new system in our data pipeline, so please tell us if something seems wonky about it. We’ll continue making improvements here. Oh, and Caleb is an amazing smart, funny, kind, handsome man... Okay can I have my 20 bucks now?"
Love that guy.
Anyway, go check out all the updates on Dollarwise and don't hesitate to write in to tell me where we can improve.
I read every email.
Even when they make me cry...
Back to the newsletter!
"My credit's already trashed, so what's the point?"
I hear some version of this ALL THE TIME.
And I get it. When the number feels permanently broken, working on it feels pointless.
Why pour effort into something you've decided is a lost cause?
But credit isn't an indictment on who you are.
It's a score that responds to behavior.
Trashed credit didn't happen overnight, and it doesn't fix itself overnight, but it’s 100% possible to improve.
The only version of your score that never recovers is the one you refuse to touch.
And the move is to stop treating it as your identity and start treating it as a project.
It’s like when I decided to lose some weight.
I didn’t wake up one day and suddenly fit into the jeans I wore in college.
It started slow.
I stopped eating fast food. Then, after a while, I started taking long walks.
And once I had built up some momentum I added in a few pickleball sessions.
And now I’m about 30lbs lighter than last year.
It didn’t happen overnight, but it DID happen.
I just had to make some small adjustments and be patient.
(Fat & Fatter certainly didn’t make it easier.)
Because if I had just tried to lose all that weight in a week by maxing out my bench press and fasting, I would’ve hurt myself.
You need to build up strength and make habits that stick.
Credit is kinda similar.
You start with where you are, make the changes you can, and build up slowly.
That way, when you’re ready to buy a house, get a new car, or upgrade your credit card to one of the fancy ones with points, that score is JACKED…
But I get it, if you’ve already got a dozen different cards, a student loan, a personal loan, and god-knows-what-else, it can be hard to keep track of payments.
You’re human.
So if you miss a payment, or forget about one of your Klarna purchases, it’s understandable.
(It’s fucking dumb, but it’s still something that happens.)
Which is why tools like a credit builder loan let you rebuild your score with payments you're already capable of making, and a cash advance can keep one bad week from turning into a spiral of fees.
Not magic.
Just structure that works while you do.
Kinda like a GLP-1.
It doesn’t do the dieting and exercise FOR you, but it can make it easier.
You just have to build good habits or you’ll be right back to where you started.
You're not your credit score.
But you can be the person who turned it around.
If you're building good habits, but need a little help, check out Money Lion.
It's free to take a look at what loans you qualify for and it won't hurt your credit.
Plus it takes like two minutes, and what the hell else are you doing?
[Click HERE to Check out MoneyLion]
Taquitos,
Caleb “Walk Enthusiast” Hammer
P.S. Think your financial situation is beyond saving?
Well, we're casting for Financial Audit.
So if you're tired of avoiding the number and want some patented Caleb Hammer tough love, this is your shot.
[Apply for Financial Audit HERE]
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