When it comes to credit, young working class adults are not guided into building them prior to independence from their parents. Most would build it later, but a lot would ruin their credit history before doing it.
On this episode, I introduced you to the concept of credit history and credit score. As I mentioned on the episode, building credit is a starting point to financial independence. This is especially now you have your own place.
The reason is because most comforts in the US cannot be gotten without financing it. I know, you can pay cash too for some things. But, most things like a house, a college education or a car are so expensive it requires being financed.
For example, not everyone has $20,000 to put on a new economic car. Or, $30,000 to pay for a Batchelor's degree. Now unless your parents are rich, the rest of us young working class adults have to ask for federal or private loans to get it.
And without a good credit, this is hard to do. Do you know that?
So this episode is for people who just got their first job, moved out on their own, or simply realized their credit score is a blank slate. It is a starting point. Also, you can read my guide on building credit for the first time by going to my platform to read the article. I believe I mentioned this guide on this episode as well.
Additionally, I mentioned a beginner credit card which helps people build credit without getting them in debt. It is called Chime credit builder card. It does not have fees attached to it. Hence, why I recommend it to young adults.
Having said that, I hope this introduction to credit episode helps warm you up for the credit building journey ahead that you and me are about to embark on. Subscribe so you never miss an episode, and if this has helped you, share it with our fellow working class adult who needs to hear it.
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