1-7D: The Cost of Credit Assignment: Credit in my future

Fill in the following;

When I leave Secondary School, I plan to:

I want to live far away from home so I can get more independence. I wish to Study at Guelph
university or in the U.S. I want to learn about my new surroundings and have two jobs to support
myself.

If I borrow money or use credit to do this, it could affect my education and career goals. Some pros and
cons to borrowing are:

Pros:

My student cards offer easy approvals to those with no credit

I can build a positive credit history
I can learn positive financial habits
My student cards make it easier to pay for emergency experiences
I'll enjoy a convenient and safer way to spend
Cons:

There is potential to rack up long-term debt

High interest rates make borrowing expensive
Lower credit limits are typical
You could hurt your credit score

So I’ll manage my credit by:

Borrow only what i need

Pay my credit card bills in full every month
Focus less on my credit score, and more on developing positive, lifelong habits.

Discuss with your parents or another adult how you plan to manage credit in your transition from
secondary school. Write a summary of your discussion.

I was talking with my elder sister, and she told me to use my Credit card instead of my debit card Just in
case Someone got my info, and so they can take money from my credit card instead of my bank account.
She also told me to use my money on the things I need before using it on the things i want, she also told
me not to overspend and to make sure I pay my monthly fee, so I do not get in depth with the bank.