Money Smarts Blog

Improve your credit score in 5 steps - Step 5

Jul 19, 2021 || Heather Waffle, Branch Manager

computer and phone with person's credit score up on screen

You've made it to the 5th and final step! It's probably not what you were expecting, but it's critically important.

5. Save for the future. You will need a new car someday. Your water heater will go out at some point. Your kids will go to college. There's a lot of knowns and unknowns in our future. When you make a plan to start saving now, you won't be completely reliant on credit cards or loans when those unknowns come along. And when you have money saved up, you're able to cover these planned and unplanned expenses, therefore keeping your credit score from taking a dip.

Did you know having a good credit score can also help you save money? Look at it this way - the higher your credit score, the less risky you are in terms of repaying loans and making payments on time (as we've learned) — this means lower interest rates when you do need to take out that loan, which means more money in your pocket.

So to recap, the 5 steps are as follows:

  1. Check your credit report
  2. Reduce the amount you owe
  3. Pay your bills on time
  4. Keep balances low
  5. Save for the future

As you start working towards and accomplishing even one of these, you should start seeing a positive change in your score. Be patient, though. According to, it takes one to two months for a credit score to update after paying off debt, in most cases.

And if you need some extra help, don't be afraid to schedule an appointment with one of our Financial Health Coaches.

Schedule an appointment

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