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Monitor Credit History with Free Credit Scores

The last thing any young people need is to start out with a bad credit history. So first things first, obtain a free credit score, and find out how your credit history currently looks. It takes a lot of time to rebuild your credit score, and while you're doing that, you have wasted a lot of precious time, so make sure you are on the right path.

Most young folks are always in a hurry to grow-up, but what they don’t realize is in order to have a good credit score, one has to build a great history on payments.

I had to remind my son to take time and don’t be in a rush for life. He is very independent, and has the need to take ownership of most things. Yet, the one thing that has made some of us gullible to is the seduction of gifts and gimmicks towards applying for new credit cards wherever we go. 


We spent the last two years training him to pay his bills on time. At the same time, not over apply for just any credit cards. He only needs one good one. As an incentive, we kept an eye on his credit history by obtaining a free credit score ever so often. It helps him see where he stands with being financially independent, and payment history.

Although he might not qualify to take on a mortgage right now, he has no problem obtaining a credit card with his credit scores, which is saying a lot since he is still in college. It was an enjoyable exercise, even though there were some moments when we had to sit down and have a “talk.”
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2 comments :

  1. You are wise to help him with financial matters like that so he learns as he gains independence.

    I will do the same with my children. I want them to understand how to handle money and make financial decisions that are wise.

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  2. I had several "talks" with my children on this topic. It is something we do not realize the value of until we lose it. I told my youngest to open a direct deposit while he was still staying at home then to give himself only an allowance of what he had to have for expenses saving the rest then once he saved $500. he took out a loan using it as collateral and had the payments set up as auto pay. He had an excellent credit.

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