The Legacy of Credit Management
"The creditor hath a better memory than the debtor." (James Howell 1594-1666)
Manage your credit cards carefully when you are young to avoid credit problems later on.
When young people enter the workforce, the first thing they often do is get a credit card. Unfortunately, they frequently don't understand credit and can easily and quickly get into trouble. Many do not realize that making credit mistakes can affect their credit rating and create problems when they want to buy a house or car. Let's look at a problem that can easily arise. A smart phone is probably one of the first things a young adult wants to buy. Usually a two-year contract is agreed for a set monthly fee. If the monthly payments fall into arrears, the provider will send invoices, emails and make telephone calls until the account is sold to a collection agency. Being remiss on $400-$500 may seem trivial and easy to rationalize; failure to pay, however, could create an insurmountable obstacle later on when credit is needed most. | 
