- Establishing a good credit history early in life goes a long way to helping you get favorable loan terms.
- To build your credit, pay your bills on time, stay under the 30 percent utilization rate and establish two credit cards with staggered due dates.
- Get a free credit report at AnnualCreditReport.com. Make sure there are no errors in your credit history.
- Always keep your FICO score above 740.
- Considering what’s happened during young adults’ lives, it’s not surprising that they are wary of capitalism and financial markets.
- But, young folks haven’t been around long enough to gain a true long-term perspective.
- Millennials are already good savers—they just have to become savvier investors and let risk assets and compounding work to their advantage.
- Feeling like you’ve lost control of your finances can derail many aspects of life.
- Planning ahead for large expenditures, staggering your payment schedules and diligently maintaining a minimum balance in your bank account can give you a tremendous leg up.
- When it comes to your money, always try to stay calm, collected and in control. I have five rules to help.