With college back in session shortly we thought this article from III.org would be helpful in educating your college students the proper ways to manage their money and credit. College debt ads up quickly, so here are some great tips to help you manage that debt and start college out on the right step.
- Applying for a Job. Potential employers now routinely check people’s credit history as part of the hiring process. With so many applicants vying for positions in today’s tough economy, a solid credit history may provide a competitive advantage in the job market.
- Renting an Apartment. Landlords often rent to the applicant with the best credit history. In many urban areas, available housing is at a premium. Those with a good credit history will more easily find an apartment to rent and may avoid a larger security deposit and/or the need to have the lease co-signed by a guarantor, such as a parent or an employer.
- Signing Up for Utilities. Local phone, cable, electric and gas companies will on occasion waive cash deposits for customers with solid, established credit histories.
- Securing Loans. Having a better credit history makes it easier to get a car loan or mortgage, often at a more competitive interest rate.
- Insuring a Car or Home. Having good credit can ultimately save consumers money on auto and homeowners or renters insurance, through a stronger credit-based insurance score.
For more tips and to read the whole article from III.org go here.