There ought to be more emphasis put on finances while going through school. At least give the basics between 10th and 12th grades. A lot of young people don’t realize the impact debt and credit scores have on their futures. When I was 20 I had no idea that not paying my car note on time would affect me for years to come. I was under the impression that if they got paid eventually everything was cool. A few years later I wanted to get a new car and all of the dealerships would run my credit and deny me. Their line was always “Your credit report shows that you have been late consistently on your bills.” But… they got paid! Hmmm, so not only does it matter that I pay, they want me to pay ON TIME.

I got my act together and started paying on time. A year goes by and I head to the dealership again. DENIED! But… I’ve been paying my bills on time. Well, thats all good but you have 6 more years of paying on time before your past gets erased.

I told that story to stress the importance of paying your bills on time. You ever got mail from doctor’s office 8 months after you went for a checkup saying you owe them $10? Don’t just brush it off and say “Im not paying that!” Handle it. Call them and get the issue settled because IT WILL END UP ON YOUR CREDIT REPORT as a collection. Collections hurt your credit score also.