Kicking Assets

A young person's guide to personal finance

Month: March 2020

How To Build A Good Credit Score

Written by: Brianna

I know what you’re thinking, what the heck is a credit score? That is the same thing I thought going into this too. Here are some tips I found and thought I would share so we can all learn together! It’s good to find out how to start a credit score before adulthood comes into place, since you need a credit score for your future adult purchases. 


“A credit score is a statistical number that evaluates a consumer’s creditworthiness and is based on credit history: number of open accounts, total levels of debt, and repayment history. Lenders use credit scores to evaluate the probability that an individual will repay loans in a timely manner. A person’s credit score can range from 300 to 850; the higher the score, the more financially trustworthy a person is considered to be.”


Five tips to help you build a good credit score

  • Pay your bills on time
  • Use your credit card on important transactions only
  • Maintain your credit cards and pay it on time
  • Don’t open several credit cards at the same time, space it out. 
  • Write down what you purchase on your credit card to avoid overpaying


What Is Considered A Good Credit Score?

So, there is a scale it ranges from 300-850, a good credit score starts at around 690. So automatically anything higher than 690 would be considered the excellent which is where we need to aim at. 

Aiming to achieve a good credit score can teach us responsibility that we know how to pay on time and eventually it will prepare us for the real world.  

You can check out this free app called Nerd Wallet to find out if you have a good credit score…. For free?? Sign me up!

The benefits to having a good credit score

  • You will qualify for the best interest rates
  • You can get a more affordable price on apartment/house payments
  • Employers can also look at your credit score to see where you stand
  • Approval for loans from bank won’t be a problem
  • Pay less on car insurance 


Here are only a few of the benefits you gain from a good credit score. But did I also mention the bragging rights? Who doesn’t want to brag about having a good credit score when it’s something to be proud of? Start maintaining a good credit score now the earlier you do it the better!


Edited by Victoria

7 Tips to Cut Back on Spending

Written by: Kristina

As a college student, money can get pretty tight (trust me I know). It can be difficult to go out and do the things you love when the bank account is saving no. This doesn’t have to be the case though! Here’s a list of helpful tips and tricks that’ll cut back on spending and allow you to still be young.

1. Plan your Week’s Grocery List

This may not seem like it would make much of a difference, but if you plan your grocery list and decide just how much you want to spend, then there shouldn’t be any reason to go over that budget. Blindly going into the grocery store may lead you to buying unnecessary items that in fact you don’t even need.

2. Cancel Subscriptions and Memberships

I know for me, I’ve allowed subscriptions and memberships to go on far longer than they should have. This can be a huge money waster especially when they’re not even getting used! Little subscriptions like Netflix, Hulu, and Apple music add up, so be careful. That extra $10-20 can make a difference.

This goes for gym memberships as well. Once a complete month has passed and the membership hasn’t been used, save yourself that money and cancel the membership. You can even save yourself money just by going on runs at your local park or doing work-outs at the comfort of your home.

3. Eat at Home

Eating at home rather than spending money at restaurants is a huge money saver. Who wants to spend money on groceries just to spend money on food at restaurants too? If you lack the time to cook everyday, meal prepping is definitely something to consider. Cook your meals for the week that way all you have to do is pop it in the oven/microwave when you get home from school or work.

4. Coupon

Don’t pass up those coupons you see in the mail or at the grocery store. Using coupons for purchases you actually need can save you tons.

5. DIY

DIY (Do it yourself) may take some time and skill, but it’s definitely worth it in the end. Why go out and buy something when you can just make it at home? It may sound easier to buy it, but where’s the fun in that. You may even discover a favorite hobby you never knew about.

6. Sell Unwanted Items

This is one of my favorite tips. Once you start noticing clothes or shoes sitting in your closet for months, maybe it’s time to say goodbye. There are many stores in the Austin area, such as Plato’s Closet or Uptown Cheapskate, that take unwanted clothes and give cash for them. You’d be surprised the pile of clothes you can accumulate.

7. Use Cash to Pay for Things

The last tip is to simply use cash to pay for things. This makes it so much easier to see exactly how much money you have and reduces the tendency to overspend. Swiping a card can be so easy, until you check the bank account and ask yourself where all your money went.

Money as a college student can be tough, but using some of these tips can help make it a little more manageable! Why not try them out!

Edited by: Brianna

#savingmoney #budgeting


Money Management 101

Whether you’re in college or just entering the workforce, it is crucial to be responsible with your finances. However, it can be really scary and overwhelming to think about your money and the impact it has on your future. Here are three tips for managing your money!

1. Track your spending & Create a Budget

It is so easy to lose track of your spending. As a young adult, you should begin tracking your spending and creating a budget for yourself. This may seem intimidating, but it is actually really simple! Start by listing your monthly expenses in categories, such as bills, transportation, food, and entertainment. Access your spending and find things you can cut out of your spending on a monthly basis.

A simple and popular budgeting rule to follow is the 50-30-20 rule. This budgeting rule puts 50% of your monthly income toward necessities, such as rent and bills. 30% of your income goes towards “wants”, such as dining, shopping and entertainment. Finally 20% of your monthly income should go toward your savings.

There are also plenty of apps available that can help you create a budget and track your spending as well. Check out our blog about four personal finance apps here!

2. Build Your Credit

Credit cards can be very handy, as there are no overdraft fees. However, it is so important to only spend what you have and what you can pay back. Paying off your credit in full each month will help you build your credit up. A high credit score is very beneficial as it can help you in the future qualifying for loans and making big purchases.

Check out our blog about credit cards here for more information!

3. Start Saving Now

Using the 50-30-20 rule will make you put your money towards your savings, but even if you aren’t using that rule It is still important to start saving while you can, and building up.

It is a good idea to start an emergency fund. Putting money towards an emergency fund can help you tremendously down the road. Life can hit you by surprise. This emergency fund will be useful if any medical, vehicle or other unexpected expenses come up.

It is also important to save up as you start thinking about paying off your loans after graduating.

If you have a job, your employer may offer 401k benefits and you can start saving and investing!

In summary, track your spending, create a budget, build your credit, and start saving. These three simple tips will help you manage your money and make dealing with your finances much easier!


Edited by Marcus

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