Personal credit
Personal Credit Essentials
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Articles
So, what is credit? Well, it’s sort of like trust. It’s when a Company or Bank trusts you enough to lend you money to buy things such as clothes, a car and even a house.
So how does credit actually work? It’s kind of like dealing with friends. You can lend some friends money and they will return it on or before a certain agreed upon time.
If credit is borrowing money on trust, how can you also save money when borrowing money?
We’ve been discussing credit and how it works but how do you start getting credit if you have no credit history? Better yet, how do you repair a bad credit history?
Imagine not having to worry about your finances and having an organized spending habit. Wouldn’t that put your mind to ease? Well, now you can build a successful budget by following a set of 8 steps.
One would assume that banks are the only financial service providers, but no, there are credit unions as well that function very much like banks do, but they have their differences.
Covid-19 pandemic has severely impacted public and personal finances, and over the last six months or so, many people have seen a deterioration in their credit scores.