1 year, 4 months ago
via credit-qna.com
Should I ever finance anything?
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M$1 Answer
It is a good idea to finance some things. If you have enough money to pay for a large thing like a car or a refrigerator, it is a good idea to purchase it with a credit card and pay the bill off in full the month after you buy it. The wisdom of doing this is that it allows you to increase your credit score. The way people get into trouble with financing is by buying more things than they have the cash to pay off.
From articles.moneycentral.msn.com
-quote
Finally, you don't need to carry a balance on a credit card to have good credit scores. Paying your bill in full each month is the best way to keep your finances in shape and build your credit at the same time.
-endquote
Buying everything with cash is not a good idea. If you only purchase with cash, you never build credit for yourself. This is not wise as there are things in life that are good to pay for with cash but that require a good credit score to obtain (a cell phone, a car, a house etc.).
From articles.moneycentral.msn.com
-quote
Finally, you don't need to carry a balance on a credit card to have good credit scores. Paying your bill in full each month is the best way to keep your finances in shape and build your credit at the same time.
-endquote
Buying everything with cash is not a good idea. If you only purchase with cash, you never build credit for yourself. This is not wise as there are things in life that are good to pay for with cash but that require a good credit score to obtain (a cell phone, a car, a house etc.).
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
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