Do's:

• Open a bank account and use it responsibly. This is the first step in establishing a financial history.

• If you have services in your name (telephone, gas or electric), make sure you pay them in full and on time.

• Apply for a credit card. Shop around and only apply for a card if you can meet the lender's requirements. Responsible use (spending within your budget and paying your bill on time) will help you build a good credit history. If you have been denied a credit card in the past, you may want to consider a "secured" credit card. A secured card is often considered a "first step" for those with little or no credit history. A deposit is required and the spending limit on the card is usually equal to the amount of the deposit. The secured card can be used in the same way as a credit card with the same convenience and payment flexibility.

• Consider applying for and using a credit card offered by gasoline companies and retail stores. These typically have low credit limits and if you are spending responsibly, you can pay them off each month.

• Always pay any loans and credit accounts on time each month. Be sure to always pay at least the minimum amount due.

• Review your credit report carefully, at least annually, to make sure it's accurate.

• If debt gets out of control, seek help from a financial counselor.

Don'ts:

• Don't overdraw your bank account. You will be charged fees, and you can damage your credit record.

• Don't miss payments on bills or loans. Even late payments count against you.

• Don't let other people use your bank account, credit card, debit card or ATM card. You are responsible for what they do with it.

• Don't leave utilities (gas, water, phone, electric) in your name if you move. Always close out or transfer all accounts before you move. If accounts are in your name, they're still your responsibility.

• Don't forget to account for recurring bills on your credit card, such as subscriptions or club dues.