"If God only gave me a clear sign; like making a large deposit in my name at a Swiss bank" - Woody Allen
On Thursday, I attended a presentation by an employee from Regions bank on finance and credit. He stressed the importance of managing our money and how to keep a good credit score for the future. Before the presentation, I never thought much about my credit score or how it even works; however, now I am aware how a credit card works and the importance of paying bills on time. There is a 30% rule when managing your credit cards, and this means to try not to spend more than 30% of your maximum limit. This helps to be able to pay off your credit cards easier and to allow for money to be spent in case of an emergency.
After the presentation I met with my executive mentor Darryl. Darryl gave us real life instances of how important it is to maintain a good credit score. Although we are just beginning college and it may not be the first thing on our mind, when we graduate it will be helpful to have a good credit score. This is most likely when we will begin job searching, buying a house, or even a car. For all of these things it is beneficial to have an excellent credit score in order to be able to get the best prices on loans. If we can manage our money now, and not spend it on frivolous items, it will lead us on a successful path for the future.
