- Introduction
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Welcome to Building Wealth
Read the introduction to the Building Wealth guide from the Federal Reserve Bank of Dallas.
Take Control of Debt
Managing money and acquiring wealth involves the process we use to spend money or make money. There are many factors that influence our spending or savings patterns and habits. What happens if you need or want something you don't have the cash for? If you don't have the cash for a purchase, you can borrow the money, or you can use credit. You have learned that credit is the use of something of value, with the promise of future repayment.
Read Chapter 4 Building Credit and Control Debt of the Building Wealth guide from the Federal Reserve Bank of Dallas.
The True Cost of Credit Card Purchases
Here is another example of the cost of using credit. Let's say the timing belt on your car broke. The cost of the repair is $1000 and you are broke. Visit The True Cost of Credit Card Purchases website to look at what the repair could cost if you borrowed the money.
