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Building Credit From Scratch – Are Young Adults Doomed for Financial Failure?

Young Adults: Doomed for financial failure?

Young adults are faced with a unique set of challenges that cause many to struggle with credit. Inexperience, school loans, social pressures, and financial optimism all lead down the path of least resistance – a really bad credit score.  However, it’s important to remember that there are long-term consequences of bad credit, and restraint today can pay off big time down the road.
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Does it Make Sense to Rent Appliances or Furniture?

Furnished+Room

You’ve heard of companies out there like Rent-A-Center haven’t you? They allow consumers to rent appliances, furniture, and electronics.  Generally, I think a person should be able to afford an item and buy it outright if they want something.  But I think there are a few instances where renting can make sense.

Here are a few cases where it could be beneficial to rent furniture, appliances, or electronics:
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Ways To Increase and Improve Your Credit Score Without a Credit Card

When we think of improving a credit score, we often think of using credit cards.

Indeed, one of the fastest ways to build credit is to open a credit card account, and use it regularly, paying down the balance on time.

However, many people are wary of credit cards, and would prefer not to use them.  Unfortunately, some sort of credit history is needed in order to qualify for some loans, especially home loans and many auto loans.

The good news is that it is possible to establish and build up your credit score, even without credit cards!

Improving Your Credit Score without Credit Cards

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Charge Cards Are Not Credit Cards – Understanding the Difference

People often assume a charge card is just another way to say credit card but that is not the case. A charge card is a completely different entity than a credit card.  If you have never used a charge card, you should know what sets them apart from the regular plastic credit cards you may already have in your wallets.

What Is a Charge Card?

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An Against the Grain Approach to Prioritizing Your Savings

If Im So Smart Where Did All My Money Go?

Frequent readers of personal finance blogs are familiar with the importance of getting out of debt and staying out of debt. The reasons for avoiding debt are both economic and emotional, and they are so well known that we can call “staying out of debt” Personal Finance Truism #1.  Let’s briefly review the reasons behind Personal Finance Truism #1:
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