Credit 101 for Millennials: The Importance of Establishing Credit Early

Not establishing credit at a young age will have a negative impact on your overall credit as you get older and will cost you thousands of dollars.

A lot of young people walk around with the mindset that they’re young and because they just graduated from college and started their careers that they shouldn’t worry yet about saving for retirement or having a good credit score.

They think it’s not necessary for them to focus quite yet on making smart financial decisions.

This couldn’t be further from the truth.

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The Secret Truths Behind Achieving Financial Success in 2018

Growing up, millennials saw people with mediocre jobs living a modest and normal life. These people didn’t have huge houses or flashy cars, they didn’t go on vacation four times a year.  This wasn’t the picture of financial success.

The people doing that were celebrities, doctors or lawyers. These people had nicer things than everyone else. They appeared to live a lifestyle in which money was never a source of stress. At least those were the parts we saw on TV.

They were living the good life while the rest of us were scraping by with the few pennies we had.

The embellishment of that lifestyle is what made me aspire to a profession where I could make tons of money because I had some pretty serious financial goals. But as I entered my twenties, I realized that a lot of what I thought I knew about achieving financial success in my youth wasn’t necessarily true.

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