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Pay now with a credit card or wait until I have the cash later?
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How do I build a good credit history? Whether you want to build your credit history or just have an alternative payment source for purchases, you must weigh all of the pluses and minuses of having a credit card before hurrying to get one.
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There are a number of ways to keep your credit history healthy and clean. First, keep track of your spending habits. Ask yourself if you really need to make that purchase, or if you want to make that purchase. If your answer contains the word want, rethink your decision to purchase. Perhaps you can get by without spending the additional money. Second, know how much money you have, either in a bank account, from allowance, babysitting or any other means of income. Keep this amount in mind when shopping, and try to spend well below this amount at any given time. Remember, money is better off in the bank earning interest rather than on a credit card charging interest. If you decide to use a credit card, be sure to keep on top of your monthly bills. Try to pay your bill (otherwise known as a statement) as soon as it arrives in the mail. That way, you can be assured that your credit score will remain high and you can rest well!
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