Wednesday, July 17, 2024

Credit is King

March 18, 2018 by  
Filed under Community


Yes, you read that title right. I said credit — not cash — is king!

We’ve all heard the mantra, “it’s better to spend someone else’s money.” The reason it’s so overused, is because it’s true. So how do you gain access to the ever-elusive “other people’s money?” Credit!

Credit is important for so many reasons. Let’s face it: most of us can’t pay cash for our dream car, home or education. So we use credit to obtain things that are important to us. And in many instances, credit determines where you can live, what you can drive, how much you pay for insurance, and which schools you have access to — to name just a few examples.

Credit is a way to give yourself a raise even when your employer doesn’t. If you make $50,000 a year and have access to $5,000 worth of credit, you just increased your income by 10%.

Of course, you have to be smart with credit and use it to your advantage. Pay your bills on time to increase your credit score and give you easier access to less expensive credit. Try to pay your credit bills in full — or in advance — whenever possible. And the most important tip: don’t charge anything you wouldn’t pay for in cash if you had the money. It sounds pretty simple, but you may find it tough to follow. Exercising control will serve you well in the future.

Credit is a great tool that can enable you to make more money. You can fund your business ideas, pay for additional education, buy a rental property and so much more. If you don’t have unlimited amounts of cash at your disposal, credit may be the answer to start funding your dreams!

Alicia Taylor is a licensed Mortgage Banker and Real Estate Broker with over 25 years in the lending industry. If you are looking to purchase, refinance or sell your current property, please call Mortgage Solutions at (702) 368-0059 or visit

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