With the arrival of the New Year, I find that there is always an increased focus on self-betterment and the desire to get my shit together all across the board. Often times, my goals aren’t super specific, and I’ll simply have the vague notion that I want to be the bEsT vErSiOn of myself. Surprise! This usually leads me nowhere, and by the time February rolls in, my goals and plans have long been forgotten.
But not this year! This year I have a few hard goals set with hard numbers attached to them. This helps me quantify those goals and really track my progress. This year, I’m taking a much greater interest in improving my credit score. I turn 26 in just a few days, and there are a couple of looming finance goals I want to hit as I enter my late 20s. Having a stellar credit score is among them. Of course, everyone’s journey toward a better credit score is different. It’s important to set goals based on the key determinants of your own credit score, focusing on things like credit utilization vs. available balances, keeping long standing accounts open, and making payments on time.
Now, to say there are a lot of articles out there on how to improve your credit score wouldn’t do justice to the glut of information available to us. Ever since our work with TFD began, I’ve come across a number of pieces that talk about how millennials and twenty-somethings don’t understand the importance of their credit score. Sometimes, it feels as if our generation under-appreciates how crucial our credit scores are to our futures. A lot of people I talk to don’t know how a credit score is determined or what we can do to improve ours.
Below, I’ve laid out an infographic about Millennials and credit scores. It’s a great way to get a very top-level look at some of the details surrounding our standing as a generation. Check it out!
Below are links to resources where you can learn about how you can improve your credit score! Be sure to check them out.
- 5 Smart Credit Habits To Start In Your Mid-Twenties
- The Simple Way To Improve Your Credit
- 5 Tips For Winning The Credit Utilization Game
- Factors That Decide Credit Score
- FICO Credit Score Chart
- New Year’s Resolutions For Better Credit
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