Credit. Yes, we know you are sick of hearing about it but chances are you fall into one of these two categories.

1) You know it is important and understand how it will affect your future.

OR

2) You are adamant to remain cash only so the government can’t “trace” you.

Up for debate, right? Wrong. Credit is important and here is what you will need it for:

Buying a house: This is the moment when you’ve “made it” but buying a house is also really hard to do if you don’t have a good credit score. Actually, it’s kind of impossible. Even renting a home requires a credit check and if you show delinquent credit, you may have to pay a larger deposit. So that backyard with a tennis court you’ve been dreaming of? That will have to wait until you build your credit.

Getting a Job: Most employers will run credit checks on new potential hires, especially if you are going into financial or government jobs. A bad credit history could keep you from landing your dream job.

Buying a car: 95 percent of American households own cars and unless you bike to work, we will assume you have a car too. Many of those Americans have to take out car loans and the worse the credit score, the higher the interest rate you pay. Translation: you could pay thousands more compared to your neighbor who has good credit.

Starting a Business: Everyone has their million-dollar idea that has been “in the works” since college. Chances are you will need a business loan before you start making millions. Your credit score and history will affect your eligibility for financing.

Getting Lower Interest Rates: The lower your credit score, the more of a liability you are to financial institutions. No one wants to marry “A Project” right? When you have a good credit history, banks reward that with lower interest rates AKA high credit score= saving cash.

It can be intimidating but with knowledge, everything is possible. So you decide, keep saving your Benjamins in an envelope or start building your credit. When you figure it all out, have your people call ours.