Keep Track of Your Credit Score
Many people seem to share the misconception that having no debt or late payments means they have a great credit score. In fact, your credit score is based on how you use your credit; so never using your credit card may actually be hurting your score. Instead, put a monthly bill on an automatic payment plan on a credit card, then pay the bill in full each month. This will keep your credit score active and building, with zero cost to you.
Recognize Good vs. Bad Debt
There are debts that are perfectly acceptable to have. An education, for example, is a strong investment that by some measures pays out a 15% dividend over time; getting yourself into a reasonable amount of student loan debt may actually be a wise money management strategy, if you look around for low-cost educational options that provide earning … Read the rest