Articles from Joshua Ibanez
Credit cards can be great. Their convenience and ease of use, combined with the ability to extend your budget, makes them almost a necessity in today’s world. However, credit cards are not all good; in fact, they actually lead many people into crippling debt, bankruptcy, and financial ruin. While many of my previous posts have discussed why credit is important, this post will exclusively provide caution to people just beginning their use of credit cards.
Credit lets people make purchases and get what they want today, even if they don’t necessarily have the money today, as long as they promise to pay the creditor back at some point in the future. This is an extremely useful purchasing tool, as you may not always have the cash to buy the things you need or want.
You’ve probably heard about it a hundred times, and you know it’s important, but what exactly is a FICO score? Understanding what factors go into to calculating your credit score is extremely important to your financial success. Imagine going to school and not knowing what factors contribute to your grade. It would probably be hard to get an A.
In order to be in a position to pursue your dreams, you need to have your financial basics down. The most important of these is your ability to pay bills on time. The key to accomplishing this is to stay organized.
The importance of paying your bills on time cannot be overstated. Late payments negatively affect your credit score, which determines how much and at what interest rate you can borrow.
Many of us in our late teens and early 20’s have never really thought about our financial aspirations. No, I am not talking about having enough spending money for your next semester at college. I am talking about your long-term financial goals. These include if you want to buy a house, at what age you wish to retire, how many kids you want to put through college, how much you want to earn, and many more.