 TITLE: 7 Common Credit Mistakes and How to Avoid Them CONTENT: Taking on Unnecessary Credit\n----------------------------\nLet's say you take out student loans and use the money for other purposes, get a personal loan to pay for a vacation or rack up a credit card balance with discretionary purchases. These actions could put a strain on your budget, making it more challenging to keep up with your monthly payments and more likely that you'll miss a payment. It'll also increase how much you owe, which could also have a negative impact on your credit score—especially if it's on a credit card.\nThe simple solution is to only apply for credit when you really need it. This way you'll avoid paying interest charges unnecessarily and stretching yourself too thin financially. END