Using Credit Wisely

Dawson Rutkowski

Difference between credit and debit?

Credit is when you borrow money from the bank and you have to pay them back.

Debit is when your taking money directly out of your checking account.

Creating positive credit history

When creating positive credit history make sure you pay in full at end of the month, pay on time, and keep your total charges well within your credit limit.

Financial Apps

www.betterment.com - it helps you with investing.

www.mint.com - helps you with budgeting and payment

www.futureadvisor.com - helps you with investments

www.indinero.com - helps you with accounting and taxes

www.wealthfront.com - helps you with investment management

Advantages and Disadvantages of using credit

Some advantages of using credit is it saves you time and trouble, you don't have to search for atms, and don't have to have cash. Some disadvantages are credit makes it easy to spend beyond your means, you need to save your receipts and check them each month, and you will get unexpected fees.

What is APR and why is it important.

APR is the yearly rate of interest on your credit card and its important to know so you know how much to pay back.
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Ordering free credit report

You can get a free credit report from TransUnion, Equifax, and Experian once every 12 months. It's important to get one because it will show you how much you spend and how much to pay back.

Financial Difficulties

Short-Term solutions- you can temporary suspend the obligation to repay debt.

Long-Term solutions- you may have to make an alternate repayment plan.

If you need help you may have to call Money Help.

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