Category: Scholarships

  • October 2019 Scholarships: Apply Now!

    October 2019 Scholarships: Apply Now!

    Rapid Access Scholarship

    Amount: up to $1000

    Deadline: October 1st and March 20th, 2019

    Category: Volunteerism

    Address: https://www.rapidaccesstomedicalspecialists.ca/scholarships

     

    Study and Go Abroad Fall Frenzy Contest – $1000 Apple Gift Card Giveaway

    Amount: $1,000

    Provided by: Study and Go Abroad Fairs

    Deadline: October 06, 2019

    Donor Study and Go Abroad Fairs

    Renewable: No

    Number Available: 1

    Type of Award: Contest

    Automatic Consideration: No

    Address: https://www.studyandgoabroad.com/contest/

     

    Horatio Alger Canadian Scholarships

    Amount: $5,000

    Provided by: Horatio Alger Association of Canada

    Deadline: October 25, 2019

    Donor: Horatio Alger Association of Canada

    Renewable: Yes, 5 year(s)

    Number Available: 160

    Type of Award: Bursary

    Automatic Consideration: No

    Address: https://horatioalger.ca/en/scholarships/

     

    Pretty Actions Scholarship Program

    Scholarship Value: $500

    Awards Available: 2

    Award Deadline: October 15, 2019

    Address: https://www.photoshopactions.com/pages/pretty-photoshop-actions-scholarship-program

     

    Helpjuice Scholarship

    Scholarship Value: $1,400

    Awards Available: 2

    Award Deadline: October 21, 2019

    Address: https://helpjuice.com/scholarship

     

    TD Community Leader Scholarship

    Awards: 2 scholarships for each region/Province in Canada

    Value: Up to $70,000 per scholarship rewarded

    Award deadline: Open until November 15th, 2019

    Address: https://portal.scholarshippartners.ca/welcome/td_en/

    More information on scholarship: https://www.td.com/ca/en/personal-banking/solutions/student-banking/community-leadership-scholarship-for-canadians/?&cm_sp=GOOGLE:MEFALL:p24732979898&gclid=Cj0KCQjwzozsBRCNARIsAEM9kBNlfHQJc68o-Kg17MwUozkeWlzsK0fp4istf1VLNwPYLqCMjZ9V4gwaAlIdEALw_wcB&gclsrc=aw.ds

     

    Women Divers Hall of Fame Scholarships

    Amount: $1000-$2000

    Category: Community leadership

    Deadline: October 31, 2019 midnight

    Address: http://www.wdhof.org/scholarshipApp.aspx

     

    The Magna Carta Scholarship

    Amount: $1500

    Category: Essay written in English

    Deadline: October 31, 2019

    Address: https://www.jccf.ca/essaycontest/

     

    Thinking ahead…

    10 Words or Less Scholarship

    Scholarship Value: $500

    Awards Available: 1

    Award Deadline: November 30, 2019

    Address: https://studentscholarships.org/easy.php#sthash.juVqwe7G.dpbs

     

    Burger King Scholars Program

    Scholarship Value: $50,000

    Awards Available: 10

    Award Deadline: December 15, 2019

    Address: https://burgerking.scholarsapply.org/information.php

  • A Look into Careers that Have a Bright Future, Financially

    A Look into Careers that Have a Bright Future, Financially

    Last May, CBC.ca published the results of a survey which focused on companies that appeal most to students in six major field studies – business, engineering/IT, natural sciences, liberal arts/fine arts/education/social sciences, law, and health and medicine. The survey, done by employer-branding company Universum Global, revealed results that perhaps many wouldn’t find suprising. For one, technology companies such as Google, IBM, Apple, and Microsoft are among the companies which headed the list, as well as engineering companies like Tesla and Canadian Space Agency. Big banks such as TD Bank and Royal Bank of Canada also had a strong showing. These organizations are not only attractive because of their competitive compensation packages and benefits but also because of the stability and security they offer.

    There’s no doubt that the engineering and IT sector, as well as banking and finance industries, are highly in demand these days, but would it be the same in ten years or so? Let’s look into the magic crystal ball and see what the outlook will be like….

    Here’s a rundown of the jobs that will have solid prospects in 10 years’ time:

    Computer Systems Design Professionals

    As the survey results showed, the student respondents have a good idea of what the future looks like. The IT sector will continue to thrive so Apple and these other innovative organizations will grow even more as the number of companies which depend on technological advancements to stay on top of the competitive market will increase. There will be more need for continuous upgrades and enhancements, so IT students everywhere can breathe a sigh of relief – your job will still be in high demand in the future.

    Social Workers

    While social work may not be interesting to current students as IT companies such as Google, this industry has a bright future ahead of it. The need for social workers will be more significant in 10 years’ time as the aging population continue to increase. There’s also an expected growth for the youth population up to 17 years old, and more families will require social assistance for day care and other related services.

    Legal, Accounting, and Business Consultants

    If you have a strong inclination for crunching numbers, growing businesses, and laying out legal groundwork, then you’ll likely acquire the highly coveted job security since these careers have a solid potential of being in high demand in the future. Mergers, acquisitions, implementation of new technologies, and others are the main reasons why these jobs will be needed in 10 years’ time.

    Research and Development Professionals, Architects, and Engineers

    Again, as the survey proved, engineering companies will continue to score points way into the future. There will also be a high demand for anyone involved in R&D and the architectural sectors. Construction and infrastructure projects will continue to rise, particularly in non-residential buildings, and there will be a renewed interest in manufacturing production, research and development, and monitoring and evaluation efforts.

    Nurses and Occupational or Physiotherapy Assistants

    This list won’t be complete if there isn’t a mention of a healthcare professional, and true enough, the demand for healthcare services will not only remain but is expected to intensify in the years to come due to the aging population and Canadians’ increased desire to keep to a healthy lifestyle.

    The above are just five of the most promising careers. Now which of these industries are you looking forward to being a part of?

    Sources:

    https://www.slice.ca/money/photos/canadian-careers-in-demand-in-2020-and-after/#!careers-canada-demand-physio

    http://occupations.esdc.gc.ca/sppc-cops/l.3bd.2t.1ilshtml@-eng.jsp?lid=17&fid=1&lang=en

    https://www.cbc.ca/news/business/most-attractive-companies-1.5148413

  • Jobs that Pay Off the Most Right Now

    Jobs that Pay Off the Most Right Now

    It’s back to school season once again, and if you’re heading closer to your last years in college or university, chances are, you’re feeling an overwhelming sense of anticipation of what lies ahead.  One important thing to know is that launching a career is easier said than done. Sure, you might have explored the possibilities of coops or placements, and you believe you have a strong shot at landing a job even before completing your college or university studies, but don’t be discouraged if things don’t fall into place as expected. As you know, there are several factors that can affect how you carve your career path, and one of the main components is how in demand or not one’s intended profession is.

    Below is a quick look at those jobs that truly take off and pay off at the moment:

    Statistician or Actuary

    It’s all about big data these days, and it’s understandable why there’s a growing demand for professionals who can interpret the big data and use it to provide solutions, build innovations, and hone in on consumer behaviour. Suffice it is to say, a graduate degree in math or statistics is a step in the right direction for this field, which has grown 87% in the last five years. You’ll potentially earn as much as $87,000 in this industry.

    Scientific Research Manager

    If you have a knack for looking at things from a scientific perspective, then the career of scientific research manager could be a great fit for you. In this job, you’ll be responsible for supervising the technical work of architectural firms, statistical services, or a scientific department. You’ll also be tasked to provide plans and directions for the technical work and make recommendations for areas of improvement. Scientific A Master’s or doctoral degree in science is what you’ll need to kick things off, plus of course years of experience. Once you’re in that level, you’ll earn a median salary of $102,000.

    Utilities Manager

    Without these professionals, we would be without the essentials for living like water, electrical power, and natural gas. This field is such a necessity in both the public and private sectors that utility managers are one of the jobs that are most in demand now. To earn the title of utilities manager and perform duties like supervising facilities that bring power to residential and commercial spaces, you will need to complete an electrical engineering degree that focuses on utilities, gas, and oil. An average of $114,000 is what awaits you once you complete all the requirements and gain experience. This field is expected to grow even more in the next few years.

    Dentist

    Oral health is just as important as physical health, and this is why dental industry is a burgeoning one, growing 63% in the last five years. It’s a longer than usual journey as you will first need four years of pre-industry studies then a university degree from an accredited dental program. Afterwards, you have to earn your license to practice by a provincial or territorial regulatory body, but everything is worth it in the end. Dentists can earn as much as $$93,600 on average.

    Nurse Practitioner

    Perhaps the most assured industry out of all of them to launch your career is the healthcare industry. Healthcare professionals like nurse practitioners, physician assistants, and midwives are continuously in demand to provide a variety of services, growing 75% in the last five years. This is especially true as the aging population in Canada continues to grow. To be a nurse practitioner, you’ll require a Master’s degree in nursing, while physician assistants and midwives need to complete university degrees in related programs. All three may also need to register with a regulatory body. The median salary for professionals in this field are $104,000.

    Now that you have an idea of the highest paying jobs right now, consider how you can fit into the picture and earn you the highest potential.

    Sources

    https://www.msn.com/en-ca/money/careersandeducation/the-20-highest-paying-in-demand-jobs-in-canada-for-2019/ss-BBS7CH3

    https://www.canadianbusiness.com/lists-and-rankings/best-jobs/canadas-best-jobs-2019-the-top-25-jobs-in-canada/

  • Media Arts Scholarships in Ontario, Alberta & British Columbia

    Media Arts Scholarships in Ontario, Alberta & British Columbia

    Media arts is at once an exciting, fulfilling, and terrifying field. It is a career choice in which your creative outlet is also your livelihood, and your work reaches and impacts large audiences. However, it is also a field often wrought with precarious part-time or contract work, scant employment opportunities, and fierce competition. Getting into a media arts program is a huge benefit not only for your education, but also for networking, experience, and valuable internships. To help you with this, consider the many scholarships that can be pursued in the provinces of Ontario, Alberta, and British Columbia.

    Ontario is filled with many opportunities for education and work in the media arts. Toronto alone is a vast city filled with production and media companies and schools. The Bank of Montreal offers a $1,000 scholarship for the multimedia program offered at McMaster University. Those interested in film or new media can apply for the Edie Yolles Award, which provides $2,200 for studying at Ryerson University. Diversity is encouraged via the Global Television Network Scholarship Award for a Canadian Visibility Minority Student. This award gives you $4,500 to apply for broadcast or media communications programs in any university in Ontario or other provinces, such as Alberta.

    Alberta may not have the same opportunities as a city like Toronto, Ontario, but the province still offers very helpful scholarships for numerous programs. The Abbondanza Fine Arts Scholarship offers four to eight awards of $500 to $1,000 for graduate studies in fine arts, new media, music, theatre, and dramatic arts at the University of Lethbridge. Undergraduates can turn to the University of Lethbridge’s Linda Nicol Entrance Scholarship in Fine Arts. This award provides $500 to $1,000 for fine arts studies. The University of Calgary awards $4,500 for electronic media studies through the Lynda R. Hodges-Zwerman Memorial Scholarship. The Bayshore Broadcasting Media Scholarship has grants for broadcasting students in any Albertan university or other province in Canada, including British Columbia.

    British Columbia offers job-rich cities such as Vancouver, Victoria, and Kelowna. It is an ideal province to pursue media arts as a profession. The University of British Columbia grants $1,000 for film and visual arts studies through the Vernon Film Society Scholarship. Those interested in new media design and web development can get $1,500 by applying for the CTV Entrance Award at the British Columbia Institute of Technology. Finally, the NAAF Fine Arts Bursary Awards Program is for all fine arts programs across British Columbia and throughout Canada.

    The media arts career path is a competitive field. You need every advantage you can get. A good education can lead you to the right knowledge, networking, and internship opportunities that can pave the way to success. Ontario, Alberta, and British Columbia offer a multitude of scholarships to make it easier to apply and get into these programs. Do not wait and risk missing out on the deadlines. If you know what you want to study and where, start applying to the relevant scholarship right away. Your career in the media arts awaits!

    Sources:

    Canadian Scholarships. “Canada’s Higher Education and Career Guide.” http://www.canadian-universities.net/Scholarships/

    Tencer, Daniel. “The Best Cities in Canada To Find A Job Are All In Just 3 Provinces.” The Huffington Post. https://www.huffingtonpost.ca/2017/10/09/the-best-cities-in-canada-to-find-a-job-are-all-in-just-3-provinces_a_23235313/

  • How You Can Help People Save Money as a Personal Advisor

    How You Can Help People Save Money as a Personal Advisor

    If you have a passion for numbers and for helping people, then there may not be a better career for you than that of a personal advisor. Personal financial advisors are tasked to meet with clients to discuss their personal finances, investment strategies, and otherwise how to manage inflowing and outflowing cash to maintain their client’s financial health and to grow wealth and savings at the same time. They also look into other factors that could impact their clients’ financials like tax status and insurance coverage.

    What are the perks of the job?

    There are a few perks to this career, such as the stable workplace hours and a career in a field that is often in-demand. Banks and financial institutions are often looking for talent to expand their business and engage with a new client base. If you establish trust with your clients, you can also maintain business with the same group for years. Stability is one major perk, but another decent benefit is the job satisfaction you will receive if you are truly passionate about finance and helping others meet their financial goals. It is also very noble to promote financial literacy amongst people who might not have been effectively taught how to budget and how to save.

    What are some of the setbacks?

    One setback is the modest median salary that this career can bring in, which is $44,457 (according to PayScale). This comes below the Canadian national average salary of $51,000 (according to Workopolis). However, there are companies that may pay above the national average or provide opportunities for promotion if you perform well in your career. Mid- and late-career advisors can find themselves earning a salary above the national average.

    How can I grow with this career?

    A personal financial advisor grows their client list and experience through the years that they work in different firms. After years of practice, a personal advisor can grow into more senior advisor roles which can earn them a higher salary and prestige.

    That’s all great, but could I be hired for other careers?

    Having a strong understanding of finance and being good with people and customer service are two great qualities that will help you succeed in other financial fields. A few other related careers include: account manager, careers in investment, other careers in personal finance, as well as many other wealth or asset management roles. With your knowledge of financial planning and serving the needs of others, you are already in a good position to start your own business than most other people as well.

    Reference:

    MyPlan.com, “Personal Financial Advisors”: https://www.myplan.com/careers/personal-financial-advisors/description-13-2052.00.html

    PayScale, “Average Personal Financial Advisor Salary”:

    https://www.payscale.com/research/CA/Job=Personal_Financial_Advisor/Salary

    Workopolis, “The Average Canadian Salaries by Industry and Region”:

    https://careers.workopolis.com/advice/how-much-money-are-we-earning-the-average-canadian-wages-right-now/

  • Consider a Career in the Corporate World as a Financial Analyst

    Consider a Career in the Corporate World as a Financial Analyst

    Not everyone has a passion for numbers and calculating formulas, but if you are one of these rare people that constantly have numbers on your mind, then you should pursue a career that reflects this passion. Pursuing a career as a financial analyst can fully support this vocation and can branch out into many different options moving forward. The job of a financial analyst is to do just that: analyze finances. This means that their day-to-day tasks usually entail: scrutinizing financial models and reporting on the status by analyzing results and forecasts; using business data to determine the cost of operations and the inflows of currency; and all-around using data to form business strategies and forecast future finances in a company or portfolio.

    What are the perks of the job?

    The biggest perk from pursuing this career is the $57,969 salary (according to PayScale), which stands above the national average of $51,000 reported in 2017. If you have a passion for numbers, then the perks virtually demonstrate themselves. Companies in the financial field also often tend to offer more perks than companies in other fields, such as covering the costs of dinners if employees work past certain hours and holding more employee-engaging events like parties and conferences.

    What are some of the setbacks?

    However, it’s not all sunshine and rainbows. Being a financial analyst offers a stable nine-to-five workday, though many analysts often have to work long hours and even weekends to make sure that all of their work is done properly. But putting in the long hours usually doesn’t go unnoticed and if you work for a good company, they will likely reward you with a bonus, a significant pay raise, or a promotion. Another disadvantage to this career is that it can often be very stressful to meet deadlines and work with multiple clients on multiple deals. Essentially, the work of a financial analyst is never done.

    How can I grow with this career?

    The career of a financial analyst can be a pretty linear one, largely having you start off as a junior financial analyst before you are promoted to a senior financial analyst and managing director, team leader, vice president, president, etc. It largely depends on the hierarchy established by the company you end up working for, but it essentially promotes you into further roles where you take on more responsibility and can enjoy a higher salary.

    That’s all great, but could I be hired for other careers?

    Having a thorough understanding of finances and how they interact with corporate and business strategies can prepare you for a wealth of other career options, like being an investment banker, financial advisor, asset manager, equity research, corporate finance, risk management and commercial banking. This same understanding of finance can also equip you with the skills to begin your own business if you have a great idea and the drive to follow through on this pursuit.

    Reference:

    Monster.ca, “Financial Analyst Job Description”:

    https://hiring.monster.com/hr/hr-best-practices/recruiting-hiring-advice/job-descriptions/financial-analyst-job-description.aspx

    PayScale, “Financial Analyst Salary (Canada)”:

    https://www.payscale.com/research/CA/Job=Financial_Analyst/Salary

    Workopolis: “The Average Canadian Salaries by Industry and Region”: https://careers.workopolis.com/advice/how-much-money-are-we-earning-the-average-canadian-wages-right-now/

  • Scholarships and Financial Aid: June 2019

    Scholarships and Financial Aid: June 2019

    Global Lift Equipment Scholarship

    Scholarship Value: $500

    Awards Available: 1

    Award Deadline: June 15, 2019

    Address: https://www.usedforklifttexas.com/

     

    Lift Parts Express Scholarship

    Scholarship Value: $500

    Awards Available: 1

    Award Deadline: June 30, 2019

    Address: https://forkliftpartsoregon.com/forkliftparts.php

     

    FormSwift Scholarship

    Scholarship Value: $1,000

    Awards Available: 1

    Award Deadline: June 15, 2019

    Address: https://formswift.com/startup-scholarship

     

    Pretty Presets Scholarship

    Scholarship Value: $500

    Awards Available: 2

    Award Deadline: June 15, 2019

    Address: https://www.lightroompresets.com/pages/pretty-lightroom-presets-scholarship-program

     

    AWAF Scholarships

    Scholarship Value: $2,500

    Awards Available: 15

    Award Deadline: June 20, 2019

    Address: https://awafoundation.org/Scholarships

     

    Opterus Helen Rose Academic Award

    Amount: $10,000

    Provided by: Opterus

    Deadline: June 30, 2019

    Renewable: No

    Type of Award: Scholarship

    Automatic Consideration: No

    Address: https://opterus.scholarshipscanada.com/

     

    10 Words or Less Scholarship

    Scholarship Value: $500

    Awards Available: 1

    Award Deadline: June 30, 2019

    Address: https://www.facebook.com/myscholarships

     

    Illustrators of the Future Scholarship

    Scholarship Value: $5,000

    Awards Available: 4

    Award Deadline: June 30, 2019

    Address: https://www.writersofthefuture.com/contest-rules-illustrator/

     

    Sustainable Residential Design Scholarship

    Scholarship Value: $2,500

    Awards Available: 1

    Award Deadline: June 30, 201

    Address: https://www.houzz.com/scholarships

     

    Cover Guy Annual Scholarship

    Scholarship Value: $500

    Awards Available: 1

    Award Deadline: July 1, 2019

    Address: https://www.thecoverguy.com/en-ca/the-cover-guy-annual-scholarship/

  • The Pros of Being Cheap While in School

    Assuming you have a student loan from the government or the Bank of Mom and Dad, it’s still a good idea to be careful with your money in school (high school or post-secondary). There are a lot of things that you can do to help yourself financially. I did these myself in university, and it really did help:

    As we all know, everything is going up: rent and groceries in particular. When you don’t have to worry too much about monthly rent in residence – you still have to pay “rent”. It’s just not the rent that you deal with off campus as that’s a different process. You need to figure out avoidable expenses and unavoidable expenses, because everything is going to cost you money. It’s just a matter of figuring out how and when to save money, or spend money.

    List everything you can think of: if you rent a car, if you’re renting off or on campus (and how much it is), textbooks, groceries or the meal plan offered on campus (or both), and outings with friends. Then consider what is avoidable and what isn’t. Rent is definitely unavoidable, it’s a fixed amount that you agreed to when you signed your lease. Consider the ones you can change that isn’t included in rent: a phone line, cable, internet, or even hydro if it’s not included. Could you cancel that phone line and save some money by using your cell phone instead? Do you really need a cable subscription if you can just watch stuff online?  And if hydro is separate from rent – is there ways you can minimize your electrical consumption – by turning off lights and unplugging electronics when not in use?

    Then there are the avoidable expenses. Textbooks – they may sound unavoidable, but some schools do offer rentals these days. You can gain some of that money back; or flip it and sell it, if possible, to a future student of the same class. (This unfortunately doesn’t work for every class, especially math and science classes, so rental is the best option for classes like these.)

    Groceries are a manageable expense because you can be as picky as you want. Consider vegetables – you would save more by buying the store’s brand instead of the more expensive one. There are also coupons and deals on all the time, so it may require more effort to keep up, but can pay in the longer term if you coordinate your meals with the deals going on in the stores. In return, if you are making your own meals, consider cancelling (if possible) your meal plan, or not renewing it the following year. (Note: If you are a freshman about to start your new school year, don’t get a meal plan until you know you want or need one to help you save money.)

    You might also have to give up a night out once in a while, too.  Fun times cost money, and that money might be more useful to you if you save it for other things.

    There are additional variable things to consider: clothing, books, and gifts. They’re completely avoidable, you don’t necessarily need them right now, especially when you’re trying to save money. So hopefully, by doing this, you have saved money that can be used for several reasons; primarily for those unexpected, unavoidable emergencies (i.e. a trip home for a family matter, your car breaking down, being kicked out of your apartment). These are just examples, but hopefully they give you some thoughts about how being cheap can benefit you and your wallet ( and future!)

  • May 2019 Scholarships: Apply Now!

    May 2019 Scholarships: Apply Now!

    Mission Creek Orthodontics Scholarship

    Scholarship Value: $500

    Awards Available: 1

    Award Deadline: May 15, 2019

    Address: https://missioncreekortho.com/orthodontists.php

     

    LM Scholarship Program

    Scholarship Value: $500

    Awards Available: 1

    Award Deadline: May 31, 2019

    Address: https://studentscholarships.org/grants.php#sthash.9FNYsB7i.dpbs

     

    Optimist International Oratorical Contest

    Scholarship Value: $2,500

    Awards Available: 100

    Award Deadline: May 15, 2019

    Address: https://www.optimist.org/member/scholarships4.cfm?

     

    TransCanada Scholarships

    Scholarship Value: $10,000

    Awards Available: 1000

    Award Deadline: May 17, 2019

    Address: https://www.tcscholarships.com/

     

    Odenza Vacations College Scholarship

    Scholarship Value: $500

    Awards Available: 1

    Award Deadline: June 1, 2019

    Address: https://studentscholarships.org/odenza.php#sthash.o3lbcEeR.dpbs

     

    Got a Spine Scholarship

    Scholarship Value: $500

    Awards Available: 1

    Award Deadline: June 2, 2019

    Address: https://studentscholarships.org/2019_college_scholarships.php#sthash.9QYKrNSn.dpbs

     

    Fraser Institute Student Essay Contest

    Scholarship Value: $1,500

    Awards Available: 3

    Award Deadline: June 1, 2019

    Address: https://www.fraserinstitute.org/education-programs/west/students/essay-contest

     

    Stuck at Prom Scholarship

    Scholarship Value: $10,000

    Awards Available: 10

    Award Deadline: June 3, 2019

    Address: https://www.duckbrand.com/stuck-at-prom

     

    Electrical Industry Scholarships

    Amount: $154,250

    Provided by: Electro-Federation Canada (EFC) and Its Members

    Deadline: May 31, 2019

    Renewable: No

    Number Available: 62

    Type of Award: Scholarship

    Automatic Consideration: No

    Address: https://scholarship.electrofed.com/

     

    De Beers Group Scholarships for Canadian Women

    Amount: $4,800

    Provided by: De Beers Group

    Deadline: June 01, 2019

    Donor: UN Women (HeForShe Initiative)

    Renewable: Yes, 2 year(s)

    Number Available: 9

    Type of Award: Scholarship

    Automatic Consideration: No

    Address: https://debeersgroup.scholarshipscanada.com/

  • The Importance of Building Credit

    The Importance of Building Credit

    Ah, your first credit card. That whopping $1000 limit means the world is your oyster for the next month. It may be tempting to visit every store in your neighbourhood or treat yourself to a little retail therapy, but there’s something else you need to worry about. Your credit score.

    I know, I know. It seems like you’re a little too young to have to worry about all that. You can always improve your credit score in the future, right? Well, sure, but the future sneaks up faster than you think. The last thing you want is to be a 20-something with a low credit score.

    Now, before jumping into why you should want to build credit, let’s briefly break down what a credit score even is. Essentially, it’s a number out of 900 that determines how likely banks are to give you a loan or an additional credit card. It reflects how likely you are to repay your debt and tallies how many times you’ve had a good rating. According to Credit Karma, a good score is usually between 670 and 739.

    It’s never too early to start building your credit rating, especially because building it to a good score takes time. As soon as you get your first card you need to think about maintaining a good rating. Poor credit scores mean:

    • You’ll have difficulty renting or buying property. It might not seem like a big deal now, but eventually you’ll want to move out of your parents’ house. A bad credit score can chase away a lot of potential landlords.
    • Your chances of getting additional credit cards are pretty slim. If banks see that your score is bad with one card, why would they take the risk of giving you a second one?
    • Loans won’t come as easy either. Some banks may charge you high interest rates while others might turn you down entirely.

    Luckily for you, there are some tips you can follow on how to build your credit score from the moment you get it.

    For starters, get a simple card. With so many different options out there, it can be overwhelming to decide which card is right for you. But, a starter card with no annual rates and low interest rates is the way to go. As nice as it would be to have a $10,000 cap on your card, you don’t need that kind of money to start with; $500 to $1,000 is a good base.

    Credit cards need to be monitored as well. Sign up with sites like Credit Karma and receive notifications to your email when a new score is ready. Keep an eye on the numbers so you know where to make improvements. Anything from not paying bills on time to applying for too many loans in a short period of time can lead to a significant decrease in your score. You also have to consider what your “debt to income ratio” is; how much income you make in comparison to how much debt you have can also affect your credit rating ( including when you apply for a bank loan or credit increase).

    Maintaining a good credit score isn’t hard once you know the basics. Don’t go crazy with the spending and think about your future self to ensure that you’ll have an easier time when those milestones in life approach.