Question

Devise a plan for each year below so that Trisha achieves her goal of a high credit score. Be specific about what actions she could take at each checkpoint.

1. Before she graduates high school.
2. Freshman year of college.
3. Sophomore year of college.
4. Junior year of college.
5. Senior year of college.

Answer 1

To achieve a high credit score, Trisha can take specific actions at each checkpoint, such as applying for grants and scholarships before graduating high school and maintaining a budget during her freshman year of college.

Step-by-step explanation:

To achieve a high credit score, Trisha can take the following actions at each checkpoint:

1. Before she graduates high school: Trisha can start planning early by researching and applying for state, college, and nonprofit grants and scholarships. She should also consider prepaid tuition and education savings plans.
2. Freshman year of college: Trisha should focus on maintaining a budget and living within her means. She can also start a savings program and learn how to maintain a checking account.
3. Sophomore year of college: Trisha can improve her credit score by paying bills on time and using credit responsibly. She can also assess ways to be a wise investor and develop a personal retirement plan.
4. Junior year of college: Trisha should continue to monitor her credit score and make sure she is on track. She can also evaluate the costs and benefits of borrowing money and identify the types of loans available to consumers.
5. Senior year of college: Trisha should focus on graduating with a good GPA while still maintaining a healthy credit score. She can also start thinking about post-college financial goals, such as saving for a down payment on a house or building an emergency fund.