Beginning Personal Finance

Hey, MomVesting readers! Here's a step-by-step article about building credit, laid out in easy terms for all the young people we love. Feel free to share with the young adults in your lives!

When first starting out in building your financial path, you may be confused by the many details that go into personal finances. Checking accounts, credit cards, debits, loans, credit scores – eek! It may seem overwhelming. Fortunately, it doesn't have to be. Let's take a look at one of the major parts of your financial life: your credit score.

Explaining the Credit Score

When I first began investing in a 401(k), everything about investments intimidated me. The stock market. The many details in my simple 401(k). The possibility of losing money. Everything left me scared out of my wits. But the most intimidating part of the retirement account, to me, was the darned periodic investment reports.