What is credit all about?

Recipe: 1 Learn what credit is. 2 Understand why you need credit. 3 Know the advantages and disadvantages of using credit. 4 Understand when you should use credit. 5 Know the different types of credit you can use. 6 Understand the cost of using credit: interest rates and fees. INGREDIENTS FOR SUCCESS: • Reading your financial goals aloud every day. • Keeping your worksheets and financial papers organized and in a safe place. • Making a habit to pay money back on time, all the time. • Reading credit terms and asking for help if necessary. • Knowing how to calculate the total cost of an item purchased with credit.