They Don’t Teach You This in School

We’ve all been there, freshly 18 and running to the bank/department store to apply for our very first credit card.

What a great feeling, the feeling of accomplishment, freedom, and well..adulting!

But, it’s not till years later when you try to apply for an apartment or cell phone we realize how detrimental that credit card really can be if not taught to use it with great responsibly. While we may think we are invincible at a young age, it often comes with maturing into REAL adulthood we find ourselves in a rough patch trying to mend what we once defaulted on in our years of mistakes and growing.

Though that may just be apart of human nature for some (or most) of us, and we often learn from our mistakes; these kind of mistakes are ones that can potentially harm the possibility of a financially sound future.

Here is 2 valuable life skills that are NOT taught in school and maybe the make it or break it to the ever-growing future generations.

Handling Money Responsibly

The importance of being able to responsibly handle, save, and invest money is so crucial and beneficial towards a financially stable future. Unfortunately, not even higher education schools properly cover the usefulness of personal money management.This can go as far as prioritizing monthly bills and budgeting. We’re not all wealthy businessmen or women (I know I’m not) so sometimes  we find ourselves falling short on monthly expenses; creating a list of the expenses each month such as rent, electricity, cable/internet, cell phone etc. and placing that exact added amount into your savings account will assure that you have a roof over your head and running water.

Bad vs Good Credit

Being able to establish and maintain a healthy credit report and score can determine so much in a persons employment possibilities,  loan options for auto and homes, and interest rates. Your credit report is a general representation of who YOU are financially and how reliable you are to keep an agreement. All in all, you may be a great person with an awesome personality, but would you loan a random stranger $15,000 knowing they may not pay you back? Probably not. Overall, save the hassle of trying to bail yourself out of credit card debt and high interest rates, and start practicing and teaching the seriousness of low balances and on-time monthly payments.

There are so many important life skills that rarely are taught at a young age, such as manners, job skills, laws etc., but teaching students how to correctly manage and secure their money in a positive direction is crucial not only to our economy, but also for our children’s children.

When we work with families trying to repair past financial mistakes, or even mishaps; it is important to us that the skills and knowledge that we pass on to the elders be passed on to their kinfolk.

Questions, comments, or concerns?

Reach out to Cobalt Credit Services M-F 9am-6pm PST

1(800)216-2725