Posted on: 17th Jan, 2006 08:49 am
I have just entered my college and thinking of opening a credit account for the first time. Just as a precaution I want to know is there any way to have a good control over the credits?
Hi Joe,
The best way to manage credit as I feel is to understand first how much you can afford to pay off and make your financial budgets accordingly.
You have to stick to your budget plans and give paying off the debts your first priority so that they never pile up to pose problems to you.
Murphy
The best way to manage credit as I feel is to understand first how much you can afford to pay off and make your financial budgets accordingly.
You have to stick to your budget plans and give paying off the debts your first priority so that they never pile up to pose problems to you.
Murphy
Hi Joe,
It's good to see that you are concerned about managing credits from the beginning. By doing so, you have already taken the first step.
Credits are a necessary requirement today in managing the finances and to meet emergency requirements. They help you in affording homes, cars or fulfill some other requirements at a time and help you to make the shortage of your money.
But if it is not managed properly it can be a major problem for you. The things you own today because of loans taken can slip out of your hand tomorrow and worse than that it will ruin your credit rating. With a poor credit rating and history it becomes difficult to get loans further.
I shall advise you to check your earning and your daily expense, so that you have a clear idea on the amount of money that can be saved by you each month. A portion of this savings can be utilized to pay off the debts. So you have to analyze how much you can afford each month to pay off your debts.
Good credit history will help you in your future dealings related to a mortgage or loan. Never co-sign a loan for a person whom you don't know much as if he defaults on the loan, it is going to affect your credit as well as make you responsible for the loan.
Try to pay off the credits by making a good plan and never go for any unnecessary debts.
God bless you.
For MortgageFit,
Samantha
It's good to see that you are concerned about managing credits from the beginning. By doing so, you have already taken the first step.
Credits are a necessary requirement today in managing the finances and to meet emergency requirements. They help you in affording homes, cars or fulfill some other requirements at a time and help you to make the shortage of your money.
But if it is not managed properly it can be a major problem for you. The things you own today because of loans taken can slip out of your hand tomorrow and worse than that it will ruin your credit rating. With a poor credit rating and history it becomes difficult to get loans further.
I shall advise you to check your earning and your daily expense, so that you have a clear idea on the amount of money that can be saved by you each month. A portion of this savings can be utilized to pay off the debts. So you have to analyze how much you can afford each month to pay off your debts.
Good credit history will help you in your future dealings related to a mortgage or loan. Never co-sign a loan for a person whom you don't know much as if he defaults on the loan, it is going to affect your credit as well as make you responsible for the loan.
Try to pay off the credits by making a good plan and never go for any unnecessary debts.
God bless you.
For MortgageFit,
Samantha
Hi,
It is really good to know that you are concerned about your credit. It is very very important to keep a tag on the credit history will help you to enjoy your life. Keep a track of your daily expenses, try to save some money every month which will help you. If you have any due to pay off, try to make the monthly payments on time so that you maintain a good credit record and you will not loose anything.
All the best.
It is really good to know that you are concerned about your credit. It is very very important to keep a tag on the credit history will help you to enjoy your life. Keep a track of your daily expenses, try to save some money every month which will help you. If you have any due to pay off, try to make the monthly payments on time so that you maintain a good credit record and you will not loose anything.
All the best.
Hi,
It is really good to know that you are concerned about your credit. It is very very important to keep a tag on the credit history will help you to enjoy your life. Keep a track of your daily expenses, try to save some money every month which will help you. If you have any due to pay off, try to make the monthly payments on time so that you maintain a good credit record and you will not loose anything.
All the best.
It is really good to know that you are concerned about your credit. It is very very important to keep a tag on the credit history will help you to enjoy your life. Keep a track of your daily expenses, try to save some money every month which will help you. If you have any due to pay off, try to make the monthly payments on time so that you maintain a good credit record and you will not loose anything.
All the best.