Using Credit Wisely

Financial Management

The difference between a credit card and a debit card?

Debit cards draw money directly from your checking account when you make the purchase. A credit card allows you to borrow money from the bank to make your purchase. You have to pay back the money you borrowed within your grace period, or you'll have to pay interest, or extra, on top of what you borrowed.

Three ways you can develop a positive credit history

1. Pay off your charges in full at the end of each month

2. Always pay on time

3. Regularly read your credit report and check it for any mistakes

5 different financial apps and/or websites that help people manage their money

1. is a free app for iPhone, Android, and is also available online. Mint gives you all the tools you need to help you manage your earnings, spending, saving, and budgeting. Each section is organized to give you the big picture of your finances.

2. GoodBudget is a free app available for both iPhone and Android. This app is great for people who are ready to start creating a budget based on their cash flow. It puts your money into envelops every month which helps you to create a monthly budget and helps you understand spending habits in each area of your life.

3. GoogleWallet is a free app available for iPhone and Android. This app allows you to send money to any friend in the United States using a valid email, while allowing you to automatically track all online orders, view purchase history, and spend your Wallet Balance as if it were a debit card.

4. Home Budget with Sync is an app for $4.99 which is available for iPhone and Android. This app is a solid budgeting and expense management app that allows users to easily set a budget, and then sync income and expenses between multiple devices. This app allows users to create a budget, manage income amounts and easily log and categorize expenses over time.