If you’ve ever been gifted money, you’re aware of what an exciting feeling it is. So many of us have a whole list of worries that are often entangled with money – we want this jacket or a new pair of shoes. When you enter the work force, especially in the corporate space, these wants are needs. “Dress for the job you want,” is expensive advice. 

For this and many reasons, credit is appealing. It’s generally easy to apply for, and once you pay back what you’ve initially taken out, it’s easy to start that credit application process again and again. This isn’t a bad thing, but one needs to understand what their getting into so that they know what they can manage, in terms of interest and paying back what’s been borrowed. 

Surprisingly, a bad credit score and over lending can even impact your chances of securing affordable insurance, but luckily, as a student, that isn’t something you need to worry about right now. 

In the meantime, you can learn and find out as much as you can to be better prepared for when you are able to apply for credit. 

Know your credit score

As many of you know, knowledge is power. So, start by finding out what your credit score is. Additionally, you can find out what your credit options might be and have a look at what information creditors have access to.

Learn how to use credit to your advantage

The most valuable advice for giving yourself a leg up with credit according to Ayanda Ndimande in Business Tech, is checking what you’re paying for and if it still necessary, each month. In doing so, you’re then able to better assess your needs and how you can adjust them should you not have enough cash to afford them. 

Another great tip is avoiding paying off your debts with credit – so, if you’ve got an outstanding bill, don’t pay for it using your credit card. This is because, while that initial worry is paid off, you now have a debt to your credit card provider that may become very expensive, if it becomes a habit. 

Overall, the world of money is tricky and can be extremely overwhelming, if you aren’t sure where to find the information you need to better prepare yourself for managing your money. Luckily, with the internet being such an key part of our lives now, there are a plethora of reliable resources that are accessible to anyone with an internet connection – like you.