Funding Your Future:

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

Rachel Langlois, financial expert with Cyprus Credit Union, tells us how to put good credit to work.

  1. Estimate
  • Get pre-qualified or use online calculators to estimate payments

2. Save & Pay

  • Save for a Down Payment (most homes = 20%, first time homebuyer = 3.5%, car= at least 10%)
  • Start "paying yourself" to test the hit the new payment will make to your budget

3. Protect Your Score

  • Pay down debt
  • Don't apply for new credit cards or loans

4. Know Before You Shop

  • Get pre-approved
  • Advisor consultations at Cyprus are free

5. Research Online

  • Helps avoid emotional or impulse purchases
  • Create a list of needs/wants

For more great ideas from Cyprus Credit Union, go here.