As busy dental students, our credit score is the last thing we want to think about, but it is never too early to start building your credit. Building my credit score and maximizing credit card spending rewards are two of my hobbies. In my downtime, I like to check my credit scores and online bank statements, as well as read financial articles. Earlier this year, the method in calculating credit scores was changed. The new scoring system is being implemented by a company called VantageScore, which was created by Equifax, Experian and TransUnion. These changes could affect your credit score overall, whether you have good or bad credit. But how is your score calculated in the first place? Here are some factors that impact your credit score.
How long do you plan on practicing dentistry? Although we haven’t officially started our careers as licensed dentists yet, it is never too early to plan ahead for retirement. Saving your hard-earned money as a dentist after graduation doesn’t seem as glamorous as treating yourself, but saving and investing will allow you to have more control and freedom later in life. The futures of Social Security, tax rates, inflation, and the economy are uncertain, but the one thing you can control is your savings.