When you’re 18 years old the last thing on your mind is credit – we’ve been there. Keep in mind your credit score is what will lenders will use the rest of your life to know if you’re trustworthy enough based on your finances.
First things first. When you use coupons you’re not saving anything. You’re spending less. There’s a key difference there. So are all coupons a scam? No, and determining whether they are or not depends on a few things.
There are some major milestones in life where your emotions just can’t be the judge of how you use your money, it’s just ironic they are life’s biggest purchases or expenses.
The 52 Week Money Challenge, sometimes referred to as the “52 Week Savings Challenge” or the “1 Year Money Saving Challenge”, is a savings plan where you put away money corresponding with the week number of the year.
A lease takeover is when you assume, or take on someone else’s lease payments. The current lessee terminates their lease early, and it would then transfer to you for the remainder of the lease term.
Saving money can be tough until you get organized. Once you establish a habit and get into a regular savings routine, it’s a breeze – but that’s the hard part.
If you are a teenager, and are motivated enough, you can start investing at a very young age. The term investing is used pretty loosely and it can be as simple as throwing up a quick savings account with higher interest or a Certificate of Deposit at a bank.
So is it a good idea to work under the table, at least to get your feet wet in the working world? Ultimately, no. In the long term we advise taking the legal route in your employment.
You want to start building your credit at 18, building your financial future, and you need a lasting income to support that. Finding a career is a lot different than a job.
All lines of credit fall into one of two categories – an installment loan or revolving credit. Neither one of them is “better” than the other. In fact, it’s actually great for your credit score to have a few lines of credit within both categories.