Tag: socioeconomic

How Credit Scores Work Within North America

Leave a comment

Credit is a complex issue, influenced not only by individual financial behavior but also by institutional frameworks, socioeconomic conditions, and evolving market dynamics that shape how credit is accessed, evaluated, and/or sustained. 35% of ones credit score is due to payment history; paying on time is crucial to having and maintaining a healthy credit score. 30% of ones credit score is due to what they owe, primarily in relation to how much credit they have and how much credit they owe (eg. allotted $25,000 and used $20,000). Going over 30% of ones allotted credit is a red flag for creditors and lowers ones score. 15% of ones credit score is due to the length of time in which the person has had some form of credit which is why it’s important to start and build up credit early in adult life. 10% of ones credit score is due to how many times credit was opened; multiple openings or inquiries in a short period may signal risk but repeated openings of new credit or repeated attempted openings of new credit shows that the person in question constantly requires more and more credit and is at a higher risk to not be able to pay back a loan. Finally, 10% of one’s credit score is due to what kind of credit they have. Having a balanced credit history of vehicle loans, student loans, mortgage loans, and credit card loans is more favorable than having only a single credit card loan all by itself as it shows the ability to manage diverse credit types

One Person Can Change the World Via the Gift of Charity

Leave a comment

It is often said that one person cannot make a difference, but on December 19, 1843, Charles Dickens released A Christmas Carol, with charitable donations skyrocketing seemingly overnight as the book became a best seller and sold out by Christmas Eve of that same year. A Christmas Carol has gone on to become one of the best selling book publications of all time even during the modern day. Dickens’ publication was not only a story, it was a strong critique of the socioeconomic inequalities which plagued Victorian England, and Europe as a whole, during the 19th century due to the development of the Industrial Revolution during the 18th century. Dickens’ work discusses the moral obligations of the wealthy and was successful at projecting a message of social justice and reformation. After its release, the English public’s attitude toward poverty and charity softened, with many becoming more generous during the holiday season, a tradition which persists into the modern day in the form of holiday gift giving on Christmas and/or Christmas Eve. Dickens deliberately retailed A Christmas Carol affordably in a concerted effort to ensure it would reach as broad of an audience as possible. This decision contributed greatly to the novels rapid success and influence within English culture. The book serves as a strong example of how both literature and art can function as powerful tools for advocacy and reformation, perhaps even upon a global scale