I'm here to vent about my current situation and as a word of warning to anyone else who is on the road to my situation.
I am 28 and I am extremely financially responsible. I'm frugal, I plan, I budget, and I'm comfortable on a very small income. I started working at 15 and by the time I got to 28 I have about $22,000 in savings. Keep in mind that over those 13 years my average income was about $15,000 per year. Starting 3 years ago my income was it's highest at $32,000 and 6 months ago I got a new job that pays about $39,000. So I'm not a high earner but I've been able to save a ton. I also have $0 in debt and I have paid off my student loan.
I live in a city with a booming housing market with great investment potential because within about 5 years any house I buy now will be worth a lot more. About 6 months ago I received a small inheritance from a deceased relative. I got about $22,000 so I basically doubled my savings. I decided to use about $30-35,000 for a down payment on a home. With a secure job, a substantial savings account, no debt, and a partner to share a mortgage with- I'm in a great place to buy.
I was denied because I've never had a credit card. Now I have to wait 6-9 months to build enough credit to get a loan and houses are getting more and more expensive.
So anyone who is in their mid 20's and financially stable and has never had a credit card and feels that they don't need one. Get one, use it even if you don't need it. Ugh- I'm kicking myself.
Submitted April 13, 2018 at 05:23PM by addicted_to_blistex https://ift.tt/2HwUfVO
