Workshop Summary
Arguably, it is very crucial to understand various aspects of your credit score. The workshop focused on various issues pertaining credit score. Three individuals, who have worked for different years, did the presentation. The first has worked for ten years, the second has also worked for approximately ten years, and the third individual just worked for one year. Various aspects discussed in the workshop included the meaning of credit score, reports from the bureaus, as well as the control of credit. There are various determinants of credit score, which include payment history, recent delinquent payments, as well as credit history. Moreover, the essence of the workshop was also to shade some light on students’ loan and the mortgages. It is evident that, it is important to obtain high credit score since it brings many financial account benefits; on the other hand, low credit score leads to disaster in the credit card account. Small credit implies that you have small debt. In the issues of credit score, there are factors such as late payments, which come up with negative and d positive effects. Moreover, the workshop focused on student loans that are of equal importance as mortgage loans. In addition, the workshop was important because it provided some tips on credit card and credit score.
Practical Application
Conversably, the information and skills conveyed and taught in the workshop are very useful in the real world. The skills and information on credit score influences the ability to secure a job as well as borrow money. In fact, the ability to understand credit scores help in determining credit worthiness of those individuals who borrower from the lending institutions. As a matter of fact, from the workshop it is clear that the borrower with low credit scores has a disadvantage because he/she is expected to pay more interest in order to borrow funds. Moreover, the information received in the workshop is applicable in the real world; this is because it acts a guide in application of mortgage, phone hookup, as well as credit card. Informed and skilful borrowers will always repay their loan in time in order to maintain or improve their high credit score. In fact, the workshop was useful as it informed on various ways to improve his/her credit score and benefit financially in the teal world. The importance of the workshop helped in focusing the crucial advantages of credit today; overlooking the credit score fact is very detrimental on the financial health of individuals in the real world.
Personal Impact
The workshop has various impacts on a personal level. The workshop activities and information are very useful in enhancing personal leadership profile. Credit score and borrowing require responsible individuals who can keep their promises and be able to follow rules. The workshop developed the skill of paying debts on time. Leadership does not only entail leading but rather responding to issues as expected. Borrowing mould individual to be responsible in paying debts in time so as to increase their credit scores. Furthermore, form the workshop those who presented focused on limiting the credit use. Perhaps, this develops the skill of managing the available resources in order to attain the ultimate good. Generally, in the entire life of an individual, credit score affects financial situations. Credit score go beyond the approval of credit card and loans; hence, it trains individual to be leaders in not only financial issues but also all aspects of life. Globally, people depend on credit; therefore, it is essential to understand various aspects of credit scores.
