Page 7 - Young Adult Guide to Housing

You are going to have credit sold to you more than any other
demographic in the US. Be careful about which credit
situations you enter into.

Use credit to build credit, but do not use more than you need
U
to. There is a good chance you are using financial aid during
co ege. How much you use wi a ect you for many years

down the road. Pay for whatever you can out of your own
pocket, if possible. Do not finance food and lodging if you can
help it.

a
c

e
Do get a credit card. This is the fastest way to build your
D o g t
credit. Do NOT get store credit. If you can get a credit card
with mileage rewards, do! Do not depend on it for emergency
usage. This is the WORST advice given to young students.
Use your credit card for budgeted purchases each month and
pay it o in fu before the due date.

Instead of relying on your credit card to bail you out of
e
m
emergencies, set up a savings account and set a goal to save
e
$1000.00 do ars in the next six months. Your goal should be to
continue to save funds in that account that equal Three
months of your current monthly expenditures. This wi be a

good lifelong habit to build.

Once you have attained these saving goals, aim to building
n
O
savings towards a downpayment on a home. It may seem far
away, but it wi serve you we to have forsight now.