One thing I've learned as a real estate salesperson - especially with renters and first time buyers- is this fear of 'credit'. Most of us (myself included), in our first encounter with credit, were irresponsible. From taking out multiple lines of credit unnecessarily - to maxing those cards out and choosing not to pay on time. The avoidance of the damage I had done to my credit, cost me three years of working to get back on track.
So if there is one lesson to teenagers, young adults and future homeowners is that you do not need to be afraid of credit.
One half of having credit is the flexibility it is gives you to own a home, purchase a car and obtaining great interest rates. It's a perk, to show positive and responsible credit usage. The negative -and the other half- is realizing when you don't understand credit and how to manage your money wisely.
I found some really great articles on getting started on understanding and building your credit. If you have a moment to read, check it out!
Experian Building Credit
Do not be afraid to check your credit! It's important to regularly confirm accuracy and your status. And as you come to that time, where you are evaluating whether you are ready to purchase your home - even if it's a year way, get started by stepping away from the fear of credit.
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