Credit A Tool, Not A Crutch - 857 Words

Credit: a Tool, Not a Crutch Depending on the number, a credit score can be a powerful tool or a crushing burden on your shoulders. Unless you are independently wealthy you will need credit at some point in your life. Seldom do people realize how important credit is until they try to make a major purchase; for instance, a car or their first home. I made some smart and some foolish decisions regarding my credit over the years, and yet each was a learning experience that proved invaluable to my financial literacy. I had just begun my first full-time job and needed a dependable car since my old one was completely wrecked in an accident. Excited, I hurried to the nearest dealership and began to look around. It didn t take me long at all to fall in love with a nearly brand new 1997 Grand Am. The clinching factor was that it was the color purple, which was my favorite. I was ready to drive off in it right then; however, there was one major problem. I didn t have the cash to purchase this i deal, practically brand new car. Moreover, I didn t have any credit history yet. Disappointed, I returned home to consider my options on whom I could ask to be a co-signer. My grandparents explained quite vividly that co-signing was nothing to take lightly. It meant that if I didn t make the payments that the bank could force them to pay or it would ruin their credit as well. They had done so much for me already I knew I couldn t let that happen. My grandfather eventually agreed to be myShow MoreRelatedKyoto Protocol And Its Effect On Climate Change Essay930 Words   |  4 Pagesimportance of lowering the amount of CO2 being released into our atmosphere. Looking back to that decision made eighteen years ago, I do not believe that the concept of carbon trading should have been introduced in lieu of a carbon tax as it is now a crutch used by corporations, both big and small, to either improve the profitability of their company by selling their unused carbon permits or to lawfully ex ceed the carbon limits by purchasing and using carbon permits as a free pass for excessive pollutionRead MoreIs The New Money? Essay855 Words   |  4 Pages80-year-old successful social entrepreneur Paul Polak I had more questions than answers. I was a teenager. â€Å"You have choice.† shared a well-wisher of mine with warmth in his voice. I still distinctly remember the words, â€Å"You can either give them a crutch or you can give them your shoulder to lean in to solve their problem. Then, they have a chance to lean forward on their own – with pride and self- sustaining confidence.† The context was homeless folks, struck by poverty. And those words echoedRead MoreMy Experience At The University Of Oklahoma1363 Words   |  6 Pagesgradually became harder and the fun activities, such as recess, came to a screeching halt in the sixth grade. Starting with seventh grade, school just became a daily task that I had to force myself to get through. However, I began receiving high school credit that year and so I told myself that I had to do well in order to make it to the next level, college. When high school came around, I had to pay attention to every class because it had the ability to permanently stain my transcript. I knew my transcriptRead MoreThe Decision That Drove the Economy Forward1500 Words   |  6 PagesForward The downward spiral of the United States economy began in 2007. Initially, banks made careless loans to individuals. Following these careless loans, many couldn’t afford to stay in their homes. The credit crisis was occurring simultaneously with the housing market collapse. The credit crisis occurred when large financial institutions were on the verge of collapsing due to the risky loans issued to United States residents. In order to stabilize the economy, the United States government developedRead MoreKyoto Protocol And Its Effect On Climate Change1814 Words   |  8 Pagesimportance of lowering the amount of CO2 being released into our atmosphere. Looking back to that decision made eighteen years ago, I do not believe that the concept of carbon trading should have been introduced in lieu of a carbon tax as it is now a crutch used by corporations, both big and small, to either improve the profitability of their company by selling their unused carbon permits or to lawfully exceed the carbon limits by purchasing and using carbon permits as a free pass for excessive pollutionRead MoreThe Rise Of A Middle Class Essay1678 Words   |  7 Pagesignorance to avoid the signs of infidelity from his wife. He receives forty percent of the blame. His life consisted of mediocrity and banality. He was a health officer and was taken advantage by the merchant Lheureux. His trust in people became his crutch and caused his life to lose the substance it had. He chose not question his wife and be a man when it came following his gut. Even though, the story implies his lack of knowledge of the affairs, the way gossip spread due to the Proletariats sinceRead MoreConceited Judgment and the Pitfall of Pride1298 Words   |  5 PagesMisfit into saving her life. Yet, the Misfit ultimately kills the grandmother despite her begging. Both protagonists in the story have something precious stolen away from them. Life is essentially stolen from both; Hulga loses her prosthetic, h er crutch, and the grandmother literally loses her life because they put too much misguided faith in themselves. Also, the characters in these stories are similar in many ways regarding the central theme, especially both of the female protagonists. The grandmotherRead MoreNotes Currency And Its Future2165 Words   |  9 PagesPaper Currency and Its Future Currency has long been used as a tool to purchase things like goods and services. The many transactions of these early times involved the exchange of both coins and paper. However, in our modern era of cell phones and plastics, these primitive methods of payment may be coming to an end. With the introduction of credit cards and easy payment via cellular, this outcome may not be very far off. Credit cards, in many cases, are more reliable and secure than that of paperRead MoreDifference Between Effective And Ineffective Management2285 Words   |  10 Pagesmanagement training. I imagine every manager to have a metaphorical backpack upon his or her back. Each backpack weighs heavy with tools and skills that its owner finds most essential to aid him/her in their career as a leader within their organization. The backpack is representation of a managers journey through the management process, and by properly utilizing the tools inside it, a manager holds the power to be an innovative, tactful visionary for the employees they help guide. Eight steps defineRead MoreThe Federal Reserve and Its Role in the Global Economy5550 Words   |  23 Pagesorg). In response to the need for bank regulation, in 1913 the Federal Reserve System was instituted, â€Å"to promote an†¦safer banking system† (Mishkin 285). As Frederic Mishkin further explains, a central bank would control the money supply and credit (284). The rationale was that a centralized bank implementing the monetary policy Mishkin referred to above, would help to minimize the impact of a potential downward trend and curb the effects of speculation. According to the Federal Reserve