I am so frustrated with
the world of credit: financial credit. I don't like dealing with it at all.
See, I am a very practical person and a saver rather than a spender. This means I don't care about having the biggest or shiniest expensive toys. If I could live in a world without credit, I would. But because times come when you probably can't pay for a whole item straight from your bank account, paying things off is necessary. And because not everyone can know me personally and see how responsible I am, the only way the secular world can figure out if I'm trustworthy is to base it off how I handle money and risk-taking.
On the upside, it's harder to start getting credit these days than it was pre-2008 (when a bubble burst in the American economy, partially due to credit problems). On the downside, credit is still just as important today, so starting out now means getting credit these days is harder. Ah, such irony! What really ticks me off is that lenders and professionals in the money-handling world are still unaware of this change, and look at me like I'm nuts when I say that credit is hard to get.
My advice to everyone person 18+ is this: if you trust yourself to handle a little credit, get a
secured credit card as soon as possible. This is card for people with no credit, so it's sort of like a mini debit card account at first: send in $300-$500 as your deposit, and that's the limit for what you can spend each month before paying the bill. It builds "trust" in the credit company's eyes, and in 6-12 months, you will have begun establishing a credit score. If you don't have any troubles, you get the deposit back, the card becomes
unsecured, and you get more benefits, plus continue increasing your score.
Is this a boring thing to be writing a blog about? YES. Is it important and something I wish I had done at 18?
YES.
Look out world, I'm old enough to be giving advice. I'm playing with the big boys now...
Strange to think that, as a married person with a steady income, I can be seriously thinking about a nicer car that will last more than a couple years, having kids, and deciding if I want to commit to owning a house. This is big-girl-and-boy stuff, folks. And to be honest, I can't decide if I wanna go that route or just traipse around the Spanish-speaking world while my husband and I are so free from commitments...
So help me God!
--Ellen