Unit 6 project
how can people manage credit and debt responisbly to achieve financial goal?
1. High school students should know about credit and debit and wht to do when they have or get a job to handle theier own money and not being to spend it all oif the place or get a bad credit becuae they dont know how to pay it off.
2. When students get loans for college they should get a small enough loan that they can pay off within a shiort amount of time and not just a huge loan to pay for a college they want to go into unless they can pay it off without intrest.
3. Students should start off by building a good credit Use the secured cards and pay them off every month. Get a secured installment loan and pay it off quickly, then get another and do the same thing and another. And before you know it you have a couple of years of history on a secured card and secured installment loans.
2.Colleg students should know that education loans weigh down graduates preventing them from siezing new financial opportunites until they clear thier debt.
3.College students should join a credit union, avoid non- academic debt, save and then splurge, pay bills on time, don't get a credit card unless you absolutely need one, are ways to start saving and investing to increase wealth while managing credit/debt.
4. They can build an d protect their credit score by , pay off credit card balances as quickly as possible, and stay current with monthly payments
Younge/ middle ages adults
- 1) With living expenses, they should take control of their own finiacial future and save money
- 2) Inportant adivce about about loans is to make sure you have enough information about the company where your getting your loan from.
- 3) The positives aspects of credit is immediate gratification. The negatives aspects are higher interest and fees.
- 4) Young adults can protect their credit score by using credit repairs and know consumers information.