Teaching young adults how to manage their credit wisely before they venture out into the real world is important with today’s economy in such a mess.
Financial Guidance Library
In today’s world, your credit score drives everything. This top secret score can be the determining factor on several things, such as job opportunities, utilities, insurance premiums and most important, interest rates. The people looking at your score view it to see just how trustworthy you are and your ability to handle responsibilities.
Life is full of unexpected events. You wake up one morning to find the refrigerator has gone out. Or you leave to go to work one day and the car won’t start.
Many financial institutions use your credit score to determine if you will qualify for a loan and what interest rate you’ll get. But that’s not the only way the score is used today. Many employers check credit scores with job applications, and insurance companies use the score to help determine premiums.