Staircase to adulting
Money confidence doesn’t happen overnight; it happens step-by-step. Knowing how to use your money so you feel calm and in control is all part of becoming an adult. That’s why we’ve teamed up with Loqbox, a UK-based credit-building provider, to share the key things that you need to know about borrowing and credit scores…
On 18 April, visit the Staircase to Adulting at the Museum of Liverpool between 10am and 5pm.
The Staircase, designed by local artist Alicia Wooley highlights real‑life financial “steps” young people can take to improve their credit score.
Steps you can take to improve your credit score
Know what you’re signing up for. Read Ts&Cs for any borrowing so there are no surprises. Make sure you can afford the repayments and know what the interest rate you’ll be charged. Use any borrowing responsibly!
Give your applications space. Try to space out your credit applications and don’t apply for too much credit at one time. Too many applications in a short space of time can lower your credit score, as each application marks a ‘hard search’ on your credit file
Check your credit file. You can check your own credit file and correct any mistakes that appear there. You can do this by checking with one of the 3 main credit reference agencies - Experian, Equifax and Trans Union
Register to vote! Getting on the Electoral Roll is one of the easiest ways to improve your credit score as companies use this to verify your address
Pay on time, every time. That’s what building a healthy credit history is all about
Make a budget (and stick to it!). You can use a budget planner or a spending diary to track your income and expenses
Try and build an emergency fund. A good rule of thumb is to try and save 3-6 months worth of essential outgoings in an easy access savings account. Savings should help you to avoid borrowing at short notice, too
Know the real cost of borrowing. Be careful with high-cost credit, including payday loans. Make sure you shop around and understand the interest and payments that you’d need to make
You don’t have to do this alone. If you need it, get advice from Citizens Advice. Debt and financial worries can be stressful but we’re here to help if you need us
Our Staircase to Adulting has been designed in collaboration with Loqbox, a credit score building tool.
Citizens Advice doesn’t endorse or recommend specific tools, products or suppliers. You should conduct your own independent research and compare multiple options to ensure you’re securing the best fit for your needs.