By trial and error. Lots of errors. I didnt get my act togther until I wound up in DMP and loosing a relationship.
By the time I was 8, I was fearful of money. I learned from my mother how to fret and stress and cry and procrastinate and loathe over money, but I never learned what else to do with it --- except spend it. I'm pretty good at that.
I have made decent money for years. I have saved nothing. I couldn't even tell you where it went ... until recently. $5 here, $30 there, a $200 splurge ... a few times a week? That's where it went. I learned from my husband to plan my expenses and pay cash for as much as I can, as it is more painful to part with.
Everything about credit, I learned from this forum. I owe a debt of thanks. I love this place and everyone's help and genuine concern.
My first taste was from my first credit card. I saw quickly how you can get in trouble, so I gave up on them for a while.
Nobody ever really sat me down and explained. I've just done research over the years as it applied to my situation.
My parents had lots of CCs when I was a wee little boy and watched them always PIF CC bills. That was my only exposure to debt. When I got a little older my parents taked to me about some things when I would ask. I leanred much more. It was only from what they taught me that I have what I did up to a few years ago. As of a few years ago I learned the rest on my own and got much further. But the big head start came from my exposure to credit watching my parents as a wee little boy.
I don't give them enough credit for who I am today.
The first thing I ever learned about credit was from my mom
I learned that if my mom saw it and wanted it or thought she needed it she had a card for it in her wallet. She paid for everything with a credit card.
What I know now that she didn't explain to me then was she PIF for these purchases by mailing a check as soon as she got home.
This of course caused me to be into about $10,000 worth of credit card debt by the time I was 23!!!!
The next thing I learned about credit I learned from Dave Ramsey. He taught me all about settling my debts for less than the amount owed just to get the CCC's and CA's to leave me alone.
What I know now that I didn't know then was that while that got me out of debt and got the credit hounds off my back it wrecked my credit score and then I couldn't buy anything.
Everything that I know and do now I have learned from trial and error and actually taking the time to hear BOTH sides of all advice Im given and to always seek a second opinon and to do what I feel is best for me - not what was best for someone else because all financial situations are 100% unique!!
My parents didn't believe in credit cards (or paying for something "on time" as they called it) and paid for everything with cash and paid their bills on time every month. My sibliings and I were taught that if you wanted something that you saved for it (that is if it were worth having). Well when I finally went out on my own I did a pretty good job of sticking to my parents teachings until I applied for my first credit card and then well I only have myself to blame for the mess I made of my credit history.
But it is never too late to learn and get back on the right track and since I've been coming to this forum I've been learning a lot about how to go about what to do and what not to do as far as credit is concerned.
My parents didn't believe in credit cards (or paying for something "on time" as they called it) ...
I started with great money handling before I came to the great US of A, then continue to do so until my family got bigger had 3 children and a husband that I had to leave. That was when everything went downhill, uphill for a very short period of time then downhill again. Now that my children are older and my business (which ate all my good credit) I am slowly managing my credit
1 year ago,
TU 520, EQ 515, EX505
TU 632, EQ 594, EX 592