{"id":5118,"date":"2019-05-15T10:49:36","date_gmt":"2019-05-15T14:49:36","guid":{"rendered":"http:\/\/caissealliance.absoludev.ca\/?p=5118"},"modified":"2019-05-15T10:49:36","modified_gmt":"2019-05-15T14:49:36","slug":"make-good-use-of-credit","status":"publish","type":"post","link":"https:\/\/www.caissealliance.com\/en\/personal\/loans-and-debts\/make-good-use-of-credit\/","title":{"rendered":"Make Good Use of Credit"},"content":{"rendered":"
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Credit can be a convenient way to help you achieve some projects. Use it carefully to avoid getting knee-deep in debt.<\/p>\n<\/div>\n

Your project and game plan<\/h2>\n

Buy a car<\/h3>\n

Winning strategy: put down the largest deposit you can afford to reduce the size of your auto loan and the length of time you make payments.<\/p>\n

Ideally, you should have saved enough to pay cash for your car. Sceptical? Learn more by reading\u00a0Buy a car<\/a>.<\/p>\n

The next step:\u00a0<\/em><\/strong>See\u00a0How to save<\/a><\/p>\n

Buy a home<\/h3>\n

Here\u2019s a tried and true way to buy a home with satisfaction and peace of mind: make the largest downpayment you can to bring your mortgage down as low as possible and then pay it off as quickly as you can to bring your interest costs down to a minimum.<\/p>\n

To pay the least amount of interest and make your home the most profitable investment possible, plan to repay your mortgage over a period of 20 years but make every effort to pay it off in\u00a017 years<\/strong>.<\/p>\n

Does paying off your home in 17 years seem unrealistic?<\/strong>\u00a0Look into it more closely because by doing so, you could save tens of thousands of dollars in just a few years.<\/p>\n

To be able to pay off your home in 17 years, you need\u00a0the discipline to follow these rules<\/strong>:<\/p>\n