The 7 Commandments of Common Sense in the Modern World

Hilary Tetenbaum   Mon, August 7, 2023

Common sense is a commodity. In some years, it seems to be in shorter supply than at other times. The current decade has already had its shortages and surpluses of it. Fortunately, there are several simple ways to maximize your personal account balance of the intangible asset.

Those who strive to become homeowners instead of lifelong renters already display a penchant for having a ready supply of common sense. Other examples appear among those who work to establish a solid credit score, protect personal information online, and get health advice from reliable sources. Review the following ways you can let commonsense actions and decisions make life much more rewarding and enjoyable.

Don’t Be a Lifelong Renter

With few exceptions, every working adult can benefit from becoming a homeowner. Renting is convenient but expensive. No matter how great of a lease deal you find, the money does not increase your ownership of a tangible asset. The most common route to ownership begins soon after a person lands their first adult job.

They save for a down payment, shop for properties they can afford, clean up their credit, and work with a licensed Realtor to find a house that meets their minimum requirements. The process can take several years, but it’s worth the wait and the effort. Step one is to speak with a financial planner and make a detailed list of steps that can get you from renting to owning within a year or so.

Establish a Good Credit Score

So many of life’s central achievements are related to financial stability. Establishing credit is the surest route to meeting the requirements for other major goals, like financing a vehicle, purchasing a house, paying for college, renting a car, buying a rental property, and more.

One of the main benefits of having a good credit score is that you don’t need to make large down payments on major purchases. For consumers who have no financial history or haven’t established a rating at all, it can be all but impossible to borrow money or make a large purchase of any kind.

Lenders use credit scores as a fast way to evaluate consumer requests for loan approval in dozens of categories. That’s why it’s never too late to begin working to establish and improve your personal credit score. Whether you’re invisible to the reporting agencies or have a minimal financial history, don’t procrastinate. You can take immediate action to remedy the situation and create a foundation of financial security for the future.

Protect Your Personal Information

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