Getting to know Credit with the OGs
Know your finances and become an OG!
Help For the High Schoolers
Now if you successfully get a loan for something like college, then you have to be prepared for paying back what you received. When you have the loan, you are now in debt to the bank, this means that you owe them all the money they gave you. Unfortunately it doesn't end there, when the loan is being payed off you also have to give something called "Interest". Interest is a small percentage that loan givers add to you and you're repaying, because of this it is best if you pay extra whenever possible. If you pay the minimum amount each month, then interest will continue to build and money will keep adding on so you will keep being trapped in the endless cycle of debt! But don't get scared, like i said earlier all you have to do is pay more than whats the minimum and youll make it over the barrier of the "scary interest rate!' I hope this has helped you all who are just starting down the road to finance.
College Student Finances
You can start saving money by not spending money on things you do not need. That beautiful coach purse? You don't need it. You want to go out and get fast food? NO. Stay home and make a beautiful healthy meal from scratch! You can ask your bank to take out money from your checking account every two weeks and deposit it into your savings account if you'd like to start saving.
You can build your credit score by paying more than the minimal amount on your credit statement. PAY YOUR BILLS ON TIME!
BEWARE OF THE MOST WANTED!
Identity Theft Jr.
Identity Theft Jr. has been known for stealing peoples credit cards and stealing their identity. If you seen please contact the Credit Bureau.
Debit Mania is best known for suffocating people with endless bills! If Debt Mania is controlling your life please call Bankruptcy.
Shoulder Surfing Tom
Shoulder Surfing Tom is Identity Theft's partner in crime!
Identity Theft Jr.
Want To Be Stress Free, join The OGs!
Middle aged Financial help
Managing a lot of money and expenses including starting a family the positive and negative aspects of credit become very important. Having a positive credit is always important and having positive credit during the situation described it is very important. Having negative credit with a family is not good especially when you have people relying on you. Avoid anything that can lower your credit and maintain your credit if it is good and work to improve it if your credit needs it.
Help for adults/seniors!
If you're a senior and have immense debt that still hasn't been paid back, one thinng you could do is reverse mortgage. You can get cash back for the reverse mortgage and it'll be paid on a monthly basis. If you have life insurance another option would be a cash surrender loan. Which is basically a loan that you don't have to pay back. The longer you've had the insurance policy the more cash you will gain back.
Seniors can protect their credit score by paying back all their loans, any credit card debts they still have left. If your mortgage and car are paid off and you have no use for your credit cardsm there's no need to worry about your credit unless you plan to apply for a loan in the future. It all depends on your age.