by Jan Combs, former financial aid officer at Harvard Graduate School of Education
As a parent of three children, I often think about how they’ll manage their financial responsibilities as they venture forth in life. Part of working towards financial independence is building credit. Establishing a solid credit history is one of the keys to financial self-reliance. Your credit score affects approvals and rates for car loans, personal loans, and mortgages. It also may be reviewed by landlords and cell phone providers. Building a solid credit history is vitally important.