Article Score0

Can you answers these questions and be willing to give me your email address for reference for my teacher? ( I dont think she will write you. = } ……)

What are the appropriate uses of credit?

How can you avoid the pitfalls of not using credit wisely?

What precautions can you take so that you do not become one of the thousands who have accumulated more debt than you can ever expect to pay off in a reasonable amount of time?

1 Thought on Need help for school, need bank manager or financial advisor help!!!?
  1. Reply
    Paula M
    July 18, 2011 at 7:48 pm

    Credit “should” be used….sparingly….if you are including consumer loans (cars/home)….there are two different animals..

    Credit card debt….basically…cards should be used for convenience…..paid off in full monthly….the trick is never to charge more than 30% of available line…($ 3000 line…never use more than $ 900)

    You need credit…to build credit…to eventually qualify for a home loan….very few have $ 150K to buy a house outright….

    Precaution is simply knowledge….FICO is like the SAT’s…except it counts for THE REST OF YOUR LIFE…..you can screw up your FICO score in a flash…but it takes years to undo the damage….

    At some point, people got in their heads…that they are ENTITLED to the $ 4K flat screen TV….must have the WII game system….and can’t live without a brand new vehicle….

    BTW….never finance a car….ever…..that usually starts the slippery slope of long term debt….you owe more than the car is worth…and you are always playing catch up…..

    Leave a reply

    Register New Account
    Reset Password