Financial Literacy
The more you know about credit and banking services, the more likely you are to successfully manage your finances. The following FDIC Money Smart podcasts can help enhance your money skills and financial knowledge. Topics covered include the basics of banking, creating a savings/spending plan, and borrowing money.
Money Smart Podcasts
Tips for Establishing and Keeping Good Credit
- Make Payments on Time - Establish a routine for paying your bills and stick with it. Mail payments at least a week before they are due so they arrive on time, pay online, or schedule ACH payments. Late fees can really add up.
- Pay What You Owe - Always try to pay the entire amount due each month. If that isn't possible, try to pay more than the minimum payment due. Never skip a payment.
- Good Communication - Don't ignore correspondence. Contact your creditor if there is a problem. Good communication with your creditors can help you avoid withholding of records and services, negative credit bureau reporting and more. If you change your address, remember to notify your creditor.
- Don't Overextend Yourself - Before maxing out your credit limit on an existing credit card or line of credit, or applying for a new credit card or loan, examine your spending and work out a realistic budget. This will allow you to pay your bills and still live comfortably.
For more information regarding credit and consumer education:
