By Tim Kowols
Keeping track of your “adult report card” is one way you can keep your credit history and your financial well-being in check. According to myFICO.com, your score takes into account your amounts owed, your payment and credit history, and the mix of the credit you currently carry. Gay Pustaver from Money Management Counselors says it is important to have a score, especially if it is positive.
Pustaver recommends starting to accumulate credit responsibly when you are 18 as you take out small loans for cars, college, and other major purchases. This is the second in a series of reports with Gay Pustaver focusing on your credit history. You can listen to the entire Money Management Monday segment online with this story.