In our previous posts this month we’ve talked about how to help your children start saving money, how to help them budget and how to protect their money as a part of Credit Union Youth Month. However, good financial habits aren’t just for kids!  Everyone should establish good money habits in order to achieve financial success.

One of the most important aspects to consider when planning financial success is having and maintaining a good credit history. If you’re 18 or older, having good credit is essential to achieving big financial goals like purchasing a car or home.

Here are three tips to keep your credit on-track:

1. Always Pay on Time – Making your payment on or before the due date will ensure you’re never late on your bill. A late or missed payment can really hurt your credit score!
2. Don’t Use More Than You Can Repay – Keep in mind that credit isn’t actually your money, you WILL have to pay it back eventually. Don’t find yourself in a situation where you owe more than you could repay.
3. Check Your Credit Report Annually – You can always get a free copy of your credit score from each credit bureau on annualcreditreport.com. Checking your credit report every year will reduce the chances of identity theft and can help you spot a problem before it gets too far.

These are just a couple of tips for maintaining good credit, but it might be tough to qualify for a loan if you’ve never had credit before.

A fantastic way to start building credit is with a Share Secured Visa card from Yolo Federal. This is the rare credit building card that doesn’t bog you down with fees and the Share Secured Visa card uses your savings account as collateral, so you have the freedom to borrow money directly and at which pace. To apply and open a Share Secured Visa card, visit your nearest Yolo FCU branch or apply online at yolofcu.org, and we’ll get you on the right track to achieving financial success!