Credit & debt — the trap

Credit is borrowed money, and your “credit score” is a number that says how trustworthy you are at paying it back. Used right, it helps you rent an apartment or buy a car. Used wrong, it’s a hole that swallows people for years.

• ●A credit card is not free money — it’s a short-term loan you must pay back, with brutal interest if you don’t.
• ●Pay the FULL balance every month, not the “minimum.” Minimums are how the trap closes.
• ●Borrowing for something that loses value (clothes, a night out) is the worst kind of debt. Avoid it.