20 Pro Tips to Be A Millionaire by Age 45

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9. Build credit

Credit is the foundation of financial success. Why? Well, consider this- if you want to buy anything large (like a car or an elephant), you’ll need decent credit. For the more important things like loans that you may need in the future for your business, you need an excellent credit score. It is never too early or too late to build your credit.

Opening accounts with cute department stores is good (and fun!), as it shows you can use a card and pay it off on time… like a responsible adult. Credit cards also serve this purpose, but don’t open too many, as that could damage your credit standing. Treat such accounts as an emergency fund, not a necessity for your impressive shoe collection. Make sure to request your credit score each year from the three major bureaus!

Adriana Echandi

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