A Letter From Future You
Future You Will Thank You
The money habits you start today can make a huge difference tomorrow
What Happens Next?
At your age, buying a house might feel a million years away. But your financial foundation begins now. Learning how credit works before you need it gives you a head start.
Scenario 1: Borrowing From A Friend
You borrow $20 from a friend, and you told them you would pay them back next week. Next week is here! What do you do?
Pay them back when you said you would
Correct! Credit is built on trust, much the same way as borrowing from a friend. Paying people back on time is a habit that carries over to loans and credit accounts.
Delay repayment another week so you can afford to go to the movies
Incorrect.
What Makes Up A Credit Score?
Your credit score isn't random—it tells a story about how you handle credit. These five factors play the biggest role in shaping that score over time.
Scenario 2: Applying For Credit
You turn 18 and decide you’d like to get a credit card and start building credit. What should you do?
Apply for 5 different cards to maximize your chances of getting approved
Incorrect.
Start with one account and manage it responsibility
Correct! Opening too many accounts in a short period can hurt your credit. Lenders would much prefer seeing that you can manage a little bit of credit responsibly, rather than seeing you manage a lot of credit poorly.
