Establishing Strong Credit Hands

Key Takeaways

  • 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.

Capitalism Gets a Bad Rap

Key Takeaways

  • 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.

5 Money Psyche Tips

Key Takeaways

  • 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.