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.
For information designed to help you use a bank and learn more about other critical topics such as protecting your identity:
For tips on selecting an account you can use to keep your money in a bank:
For help preparing a personal spending plan and tips on saving money:
For information related to credit reports and borrowing money:
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 tools and information to help you understand your financial aid and to assist you in managing your finances:
For more information regarding credit and consumer education: