In most scenarios, often the ‘smarter’ way to choose things is to consider the potential benefits that would occur over the long term. As college students, who are just about to dive into their professional lives, the ability to choose smartly becomes all the more important – especially when it comes to Credit.
It’s a big, crazy world out there… full of options – options that may not be apparent or easy to understand at the very beginning. We at slice want to focus on one specific choice/option that is a gateway to a world of many more. It isn’t a product, neither a service. It is much much more. It is a lifestyle, a way to live, with the best of everything within your reach. It is called Credit.
What is Credit?
Credit it is the ability to get goods or services (whatever you can buy with a Credit/Debit card) based on the trust that you can pay us back over time.
How is this relevant to me?
Unsurprisingly, it’s very relevant – to you, your college experience, your professional life, your future, your potential wife, heck – your entire life journey!
- You realise that you can get the very best of something you need (eg: an iPhone or a Macbook instead of a cheap Android/Windows device) without having to wait/save or compromise!
- Since you are repaying in small amounts, you still have money left over for other things: celebrations, an occasional treat, a movie or a date!
- You start building a Credit Score: something that will help you get MORE credit with LESS interest in the future when it comes to home loans, vehicle loans, personal loans, education loans etc.
- You are using available money efficiently in the best possible way to ensure you have not only covered all your ‘needs’, but also most of your ‘wants’.
- You ensure the best possible experience during your college days, without compromises and obstacles that would otherwise slow you down. With a satisfied mind, you will be able to focus better on studies and your future.
But isn’t Credit = Debt issues?
That actually depends on you. If you use your credit judiciously keeping in mind your ability to repay, and spend on the right stuff, you will not fall into debt. When you go out into the real world, there will be a lot of situations where you would need money and choose Credit over a favour from a friend or family.
With slice, you can get familiar with the privilege and responsibility of using Credit right now! When you walk out of college, it will be with a valid credit score against you can get much better deals for credit cards, personal loans or any kind of financing in the future.
Is it safe?
When it comes to slice Credit, safety is indeed pretty simple. Don’t share your password with anybody, change it once in two months and keep your devices secure with a lock-screen. See? Very simple 🙂
But my parent’s feel this is a bad idea!
This is expected and understandable– probably because they don’t yet know how ready you are for taking up such a responsibility… and seeing where they come from, it’s a valid anxiety. In their days, such options didn’t exist- especially since it was much harder to establish trust.
You can convince them effectively by reminding them about the advantages of having a ready Credit Score and Credit Awareness that will make your future much more easier.
Hmmm… what’s in it for you guys?
We were students too… not a very long time ago. We have faced the issues when it comes to financing that trickled down into our very lifestyles. We waited. We compromised. We don’t want you to do the same.
The long term results of this are obvious: a whole generation of credit aware young professionals who take full advantage of the options available to them to be the best possible versions of themselves. After all, it is you that represent the people of our country – a people who have a chance at being smart, privileged and contribute to the building of a great nation.
So go ahead, participate. Sign up for Slice!