Being a stay at home parent is a full-time job. From making sure the kids get to school on time to completing a massive list of chores, there is a lot to do. Even though you may not be the breadwinner of the family, it is still important to stay on top of your finances as well as your credit. By following a few of these tips, you will be able to have good credit even while at home:
Remain on top of your payments
Forgetting to make a credit card or bill payment can result in late charges and your credit score taking a hit. To make sure you stay on top of these payments, you should try either enrolling in a automatic payment feature from your credit card provider or create a payment calendar for yourself. This way you will be able to get your payments in on time and improve your credit score.
Use credit wisely
A dormant credit card that sits in a drawer all day will prevent you from increasing your balance, but it won't do much to build your credit score. If you are worried about using your credit card too much, consider creating a budget. This way you can map out your expenses and pinpoint the areas where it would be wise to use a credit card. As a stay at home parent, you can still use your credit which will help improve your score.
If you are predominantly using your credit card to pay for everything, you may want to consider increasing your privacy protection online. With so many transactions taking place online, credit card thieves are developing new and creative ways to access your personal information. Many credit card providers offer privacy protection products that will help safeguard your credit card information.
Looking for credit report problems
While looking for ways to build up your credit over time, you may want to take a second and look at your credit report for any problems. Mistakes such as a misspelled name or a digit off in an account number can show up on a credit report so it is important to inspect it regularly. You can access credit reports easily from the comfort of your own home, which will make it easier for you to continue your job as a stay at home parent. If you do find any incorrect markings, contact the credit bureau that issued the report and notify them of it immediately.