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FIR 1220 Assignment 3 Section 002.docx

FIR 1220 Assignment 3 Section 002.docx - Assignment 3...

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Assignment 3: Managing Credit and Investments Part 1 – Managing Credit 1. How might building good credit help you reach your goals? (1-2 sentences) You can utilize your credit to get cash to put resources into something that will bring you more money flow. You require credit to get an automobile and a house which are included in most individuals' lives. 2. How can debt be used to increase your net worth in the future? Think: leverage. (1-2 sentences) You can apply for a new line of credit for something that can acquire you more cash in a few years. You can venture into having an outstanding payment by purchasing a house, however it will be a beneficial resource at last to increase your net worth. 3. What are some general ways discussed in the text to build a good credit history? (2-3 sentences) You can get a Mastercard and utilize it for easily overlooked details like basic needs and vehicle usage, such as gas, and pay it off consistently. You can also talk somebody into
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