Personal finance is not typically a prime topic in the American education system. However, a few of the most reliable tips can have drastic effects on financial stability –both currently and in the future. Kalpesh Kapadia, Chief Executive Officer and Co-Founder at Deserve, shares his top ways to improve your credit score, avoid debt and set yourself up for retirement.

“Having good credit is a powerful thing."

Build that credit

The best way to build credit, Kapadia explains, is to get a credit card and start using it for everyday expenses and paying it off regularly. While there is a lot of information on the internet about personal finance, Kapadia recommends setting up monthly auto-pay to your credit card and auto-transfer to your savings account. That way, when it comes time to borrow to buy a house or a car, you’ll have the credit needed to do so.

We are very broke

According to a report from the Federal Reserve Board, 40 percent of Americans cannot cover an unexpected $400 expense. The difference between a 650 and 750 credit score may not seem like much, but it can lead to $300,000 in interest expenses and lost rewards over the years. “Having good credit is a powerful thing," he says.