Using Credit Wisely
By: Anthony Haynes
What is credit and how should I use it?
How Can I Build Positive Credit?
Where Can I Go To Manage My Money?
Betterment: Betterment works on investing and retirement managing.
Mint: Mint works with online bill paying and budgeting.
Dwolla: Dwolla does mass payments and money transfers.
FutureAdvisor: this company works with college planning, investing and retirement.
Simple: Simple does budgeting and online banking.
Pros and Cons of Credit
The disadvantages of using credit are that you often pay more for something than it is really worth. If you misuse credit it can put you in lots of debt. Also with credit, you run a higher risk of identity theft.
What is APR
Here is an example: If you buy an item for $500 and you have a 18% APR and plan to pay $50 a month, you will then have to pay an extra $45 for that item.