The answer, plain and simple: only two percent of people aged 30 or younger had a credit score greater than 780 in 2017, according to Value Penguin. TWO percent. If you’re asking yourself, who cares? Then, I’m pointing my finger at you because you should care, you should care a whole lot. Read more
Credit cards are something everyone should have and know how to use wisely. My mom signed me up for my first “college credit card” from Wells Fargo when I was still in high school. She’d let me buy gas and a couple random items and then she would pay it off for me. I know this isn’t something that all parents do, but this benefited me because it established my credit history at a younger age. All the cards I use have zero annual fees, which is important to look for when you’re signing up for your first credit card. And my advice would be signing up for a store credit card like Victoria’s Secret just to start you on the path to building credit. Don’t go crazy and max it out!
Finances can be overwhelming when you start talking about budgets and credit scores. Here are four basic financial skills everyone in their 20s should know.