Your Credit History can haunt you for up to 10 years. When I was younger I did not think much of it. "I'll pay the bills later, I'd rather go out tonight." About 3 years ago I really paid later for those bills.

My Husband and I filed for Bankruptcy. We had no choice. We made so many bad decisions. When you have decent credit or you are starting out in the credit at age 18. You definitely have to keep in mind everything you do HAS to be paid back. Live within your means. Do you really need that $400.00 jacket from the department store when you are only making $9.00 an hour.

There is only a tiny percentage of Americans who have a credit score of 800+.

Americans need to be more educated in the credit process. Teach your children at a young age. Co-Sign for a credit card when they are 16 w/ a very low amount on it. Have them pay for it with the money they earn or their allowance, and explain very thoroughly about the interest rates. So now maybe in their future they have a fighting chance of having great credit.

Learn more about this author, Kelly Fleming.
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