Low credit scores can deny one access to a mortgage or increase the costs of credit by thousands of dollars, says Stephen Brobeck, executive director of the Consumer Federation of America, a consumer advocacy group.Credit scores are likely to increase the finance charges on a ,000, 60-month car loan by more than ,000.
[u]Anything not generating money must be paid cash:[/b] Primary residence, car, furniture, etc.
Student loans are kind of "in the middle", if it's a STEM major, try to pay cash as much as possible, but if you want to be a doctor, financing part of it might be all right.
My philosphy is simple: The things that are acceptable to get in debt for are income-generating assets, for example, rental properties, shares in a profitable business, etc.
in which case you need to factor in your repayment cost and consider whether it's worth it or not.
Calling BS on this one, especially since they don't really define the outer contours of "date" (ONS? Some people inquire about a potential mate’s age or how many previous partners they’ve had. Some 42% of adults say knowing someone’s credit score would affect their willingness to date that person, according to a survey released on Wednesday of 1,000 adults by personal finance website Women were nearly three times as likely to consider credit score a major influence on a potential partner compared to men (20% versus 7%).
) Still have to admit that it's a relevant indicator for serious relationships, but not one you're likely to ever find out before it's too late.
That age group also has the lowest credit scores of any generation of Americans, a report released by credit bureau Experian concluded.
The report, based on anonymous data from Experian’s consumer credit database, found that millennials have an average credit score of 625 on an average debt of ,120.
“Finances, education, and job prospects all factor into the value of a potential mate,” he says.
“Assuming that people can actually interpret a credit score meaningfully, it makes sense they would think a credit score is useful in evaluating mate value.” People are combining their finances when they marry, after all, and that can impact their future happiness.
For those who are interested in talking about this during a candle-lit dinner, they should know what it means.