We are always told that we can be whatever we want to be when we grow up- and that if we do well in school, and continue on through college, that we will be successful and live happily ever after, living the life we have always dreamed of... driving the car of our dreams, owning our home, and having financial freedom to do whatever we would like to do for ourselves and for our children.
--while I am not disregarding the importance of a college education- I am about to tell you that there is a major key to success that is being left out of the equation.
We spend many years of our life in school. Preparing for our future they tell us. Learning to be successful, they say. Yet most of us, regardless of how we do in school- or whether or not we go to college..end up living paycheck to paycheck---barely getting by paying our bills most of the time.
They are missing a very important lesson on becoming successful as an adult--regardless of the career we choose. A lesson that when taught at just the right time- can be more valuable than any other lesson that we learn in our entire lives--- but it is all about timing. If this lesson is taught before any damage is done, understanding the value of this lesson could alter a persons life in more ways than anything else that you could possibly teach them.
So what is this lesson that I speak of? I am sure I have sparked some interest. This one lesson can have more impact on your future than all of the education you have gained throughout your entire life, and can provide more wealth and financial freedom than any amount of cash you could earn, also allowing you to live the American Dream- owning your own home, car, and even your own business if that is what you would like to do.
Still curious?- Or have you got it yet? ..........The missing key is educating teens about the value of their credit report and credit score. How to manage your credit and personal finances responsibly with the first opportunity you are given at age 18. If you make the choice to be responsible and make educated decisions when it comes to any decision that will impact your credit score--- you will avoid a life full of years wasted repairing damage that could have been avoided through education and responsible money management skills.
After spending time working at a company that specialized it credit repair I was able to realize how many people lacked the knowledge and education needed to avoid making common and simple mistakes that are mostly only made when someone doesn't understand the impact that their decisions will have on their future, or their ability to live the way that they wish they could live. The damage is caused simply from making poor choices and having irresponsible account management skills in regards to their finances.
We spend the majority of our lives in school educating ourselves on how to be successful as adults--in whatever career field we choose. We are taught that we can be whatever we want to be as long as we go to college and get an education. Which I am not going to disregard as important. However, without understanding the opportunity that each of us have at age 18 in determining whether or not we are establishing positive or negative credit history for ourselves, and how this can truly impact our future, we are missing a lesson that can control more of our life than any other lesson we are taught about success.
Realistically, it does not matter if you go to an Ivy league college and become a doctor or lawyer- or if you work in retail, or at a call center- if you make bad choices when it comes to establishing credit for yourself- it is not going to matter what else you have going on in your life. Your credit score will hold you back from accomplishing your dream- and your ability to qualify to own a house or a car, or be approved for a credit card or loan.. and lets face it... how many people see themselves as a doctor who can't buy a house? Not exactly the way we pictured it, right?
I spoke to people from all different walks of life working as a credit repair specialist. I heard firsthand the pain that is caused in people's lives as a direct result from a low credit score. I listened to the struggles that people went through and the impact that bad credit had on their life, controlling what seemed to be their entire world.
It never failed, there was always someone each day who would bring up that they wish that there would have been a class in high school that would have taught them about credit. How to successfully establish positive credit- - and how much easier it is to have good credit if you are able to avoid the mistakes that most people make because they lack the knowledge needed to make an educated decision/causing them to make the wrong choice which then results in negative information on their credit report. They may or may not understand why the information that was reported resulted in a negative mark, or why it lowered their credit score, because they don't know what they did wrong. Which is only able to be avoided through education about credit, how it works, what is used to calculate your score, and what you can do to make decisions that will build positive credit vs. negative credit... By understanding how your credit score is calculated you are able to avoid common mistakes that people make such as closing old accounts that are in good standing because they do not use them. Thinking that they are making the right choice- when really they are damaging their credit score in a couple ways by closing the account. First, by affecting their credit utilization, or the amount of available credit that you have, and also your account age and average account age, which looks at the age of your accounts and uses them to calculate a percent of your score for having accounts open for an extended amount of time that are in good standing. By closing this account they have also done damage to the percent of their score that is calculated based on your account diversity and in result- you have now caused your credit score to drop- all because you thought you were doing the smart thing by closing an account that you do not use frequently.
You can see how educating yourself about what is used to calculate your credit score can benefit you in ways that people who are not educated about the subject will not even understand. How easy it is to avoid a simple mistake like that, if you know what type of information affects your credit score.
It is easy to let the opportunity that you have at age 18 bypass you, simply because you do not understand the unique opportunity that you have at this point in time. This is an opportunity that does not come around twice. You have one shot-and if you mess it up by making any one decision that will impact your credit score negatively, that's it. That's all it takes. One mistake. One slip up. Any negative information that is reported on your credit report is going to take time to recover from. It takes serious management skills and knowledge of how credit works to ensure that this opportunity does not pass by or be messed up by any one negative item being reported.
At 18 years old- you have the ability to start to build positive credit with out any negative item influencing your credit score or anything causing your score to drop. To maintain this positive credit report is going to take a serious commitment, but with the knowledge provided and the understanding of the true value of this once in a life time opportunity- you can accomplish your goals and live the life most people only dream of- by simply getting things right the first time and not making any choices that are irresponsible or uneducated.
There are two paths you can go down at the age 18, when it comes to your credit. Path one, this is the path that most people go down- with out realizing they really have chose it. This is the path people who are uneducated about how credit works choose, with out ever really choosing. It is the path taken by people when they do not understand the value of the opportunity they have. This is the most common path-commonly taken because of the lack to see any other choice before it is already too late, and the opportunity has already passed them by. This road will give the illusion of choice and freedom- but will end up the exact opposite, resulting in the lack of options or ability to choose any other direction possible. It basically leaves the people who journey on it stuck at a dead end, trying to rebuild the damage they have done unknowingly. It is the path of carelessness that results in struggle, making many areas of life a constant struggle.
Path number two is the path that is chosen by a very select few. This path is the path of responsibility, education, patience, hard work, and understanding. If you are lucky enough to find a way to be on this path, it is difficult to stay on, but if you can maintain it and manage your journey correctly and responsibly it will lead to freedom, security, and the ability to accomplish your goals and live your dream. This path is not taken by accident and requires a lot of dedication to the formula for success, making any sacrifice that is needed to stay on this path-- but is more valuable than any other choices you can make because it leads you to your dreams.
Choosing a path is up to you.... the most important thing to realize is how lucky you are to be given the opportunity to choose a path, before the path chooses you and you have no say in it. It is typical for people to journey down path one because most people are not given the opportunity to understand the difference....
So here we are. The crossroad I like to call "The overlooked crossroad".... it is time to decide which way you are going. Path one: the path of the uneducated, typically taken by accident or because of a lack of knowledge or choice, the path of carelessness and irresponsibility, that will seem to be leading you where you want to go, but will end in frustration, trying to repair damage that is done with out knowledge, and sacrifice and struggle trying to get ahead or live in a way that you would like to live. This path leads to being trapped, trapped in debt and headed no where. Stuck in the mud spinning your wheels.. then there is path two: this path is going to require a lot of hard work and dedication to following the formula for success. It will require that you educate yourself about credit and how it works, what is needed to be successful and how to achieve and maintain a positive credit report and score, it is going to require that you are attentive and that you appreciate the value of the opportunity that you have.. But with this comes financial security, independence, and freedom. with the ability to live your life and accomplish your goals and dreams.It is only logical that because you are actually able to consider the option that you choose path two. Why would anyone consciously choose path one when given the option? -only if you had no regard or concern for your future would you actually choose the first path. ..
Congratulations. The path to success and freedom and everything else that you have ever wanted is at the tip of your fingers. Only you can decide to get off course, but remember, that is all it takes is one slip up, one mistake or uneducated decision. That is all it takes to completely blow your opportunity to travel the road leading you to everything you have ever wanted in life. One slip up or moment of uncertainty or carelessness is all it takes and you will be on path one with everyone else, trying to repair the damage you have done and the obstacles you have put in the way for yourself to accomplish your goals.
