Monthly Archives: July 2019

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Understanding credit scores below the surface

The finance industry is one that is paved with good intentions and some little tricks under the surface. This is one of the most intricate and deep-rooted industries in the world, and so it should come as little surprise that many people struggle to understand the depths of it. Consider the understanding of credit scores and all they encompass, for example. Credit sores are so important, if for no other reason than because they determine how you can (and if you can) get assistance for contracts, bills, and loans (among other financial backings and innovators).

Perhaps surprisingly, most people do not know much about credit scores, other than knowing what credit score range means (if that). In fact, throughout the United States, there is a surprisingly high percentage of the population that know the bare minimum (if that) about the depths of credit scores. So, what are those depths? What are the important fundamentals of managing and preserving your credit score?

Always pay your bills on time

A monumental 35% of your credit score hinges on your payment history. Late payments stay on your credit report for up to seven years, and the impact of that negative mark against your name can be devastating. It should not even be a consideration to pay your bills late if you can avoid it, but it is still one of the most disarming errors that people continue to make. Even a seemingly small bill, like your mobile phone plan, puts a dint in your credit score if it goes unpaid. So, always pay your bills on time. Stay on top of your finances. Your credit score will thank you, and so will the future you.

Stay on top of your credit utilization

This is the most important core aspect of maintaining and preserving your credit score, after your payment history. Credit reporting agencies do not store your income information; instead, they use something called ‘credit utilisation’ in place of a typical debt-to-income ratio. Your credit utilisation represents 30% of your overall credit score, and is the amount of debt outstanding on your revolving credit sources (think credit cards, home equity lines). Your utilisation means more than you think it does, so pay close attention to it.

Check your credit reports frequently

This might seem obvious, but it might surprise you how often people do not prioritise keeping on top of their credit reports. Making sure that your credit reports are accurate is an important defining factor of your credit score, because if there is even the slightest of errors, leaving it unchecked can prove to have dire consequences. Sometimes data is entered incorrectly, or someone takes hold of your credit card by stealing it (or any other manner of errors, for that matter), and the result can be that your credit score suffers. So, check your reports frequently and always bring inaccuracies to the attention of the appropriate parties. Your credit score should not suffer because of something that is not your fault, but unless you actively and consistently check your credit reports, you unfortunately cannot always prevent it from happening. 

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Why coding is becoming such a coveted career in the digital era

It is no secret that we are diving deeper and further into the digital era with every new day. These days, technological advancement and rapid digitalisation are as common as the air we breathe. We have become so comfortable, familiar, and even reliant on these modern innovations. Every facet of modern life, from the way we interact with one another and animals and experience the world around us, to the way we learn and work, has been fundamentally changed from the inside out.

Consider the way we work, for example. Careers in computer science, coding, IT, and programming are becoming more popular choices all the time. It is obvious that this is because we are all pining for a world where technological absolution rules, but it is about so much more than that. Essentially, the lure of careers in these technologically-driven fields is all about being able to do something important, rather than doing something for the sake of it. So, if a career in coding and the like is so important today, why is that?

The advantage of having a digital skillset

Here’s the thing. Individuals with careers in fields like coding and programming today have a distinct advantage over their competitors. When going for jobs these days, even if there is no strict coding and programming involved, there is something to be said about having a skillset that gives you an edge. Employers today look for candidates who have a skillset that sets them apart from the rest, and could potentially make them better at their job, and able to help elsewhere in the company if the opportunity arises. Whether that skillset is a degree in information technology, Masters in computer science, or expertise in big data engineering, or any other manner of tech-savvy qualifications, the point remains the same: a tech skillset is a direct advantage.

The benefit of having a high-paying, high-impact career

The students of today who are studying degrees in coding and the like, are the very same individuals who will likely go on to become the leading minds in some of the most important careers in the world. because of the exceedingly important impact that careers in areas like coding are having on the world, they are in high demand, and they pay exceptionally well. Students who have the passion, skills, and the determined mindset to excel in a career field like this are drawn to it because of its income bracket, its challenging nature, and its ability to make them not only better at their jobs, but more skilled in life in general.

The allure of contributing to the future of the world

Careers in coding, computer science, information technology, and programming are some of the most instrumental pillars of the future of the world. As we become more digitally inclined, the world has more need for individuals who can contribute to the most important parts of modern society. Coding and programming are important because the more digitally inclined we become, the more coding and programming become an instrumental part of modern society. With digitalisation comes the coding and programming that spurs it onward.