KINGSTON, Jamaica — Rose Miller, a financial education consultant with the JN Foundation, has underscored the critical importance of cultivating good credit habits as a pathway to financial freedom. Her remarks were delivered during the recent Smarter Credit Workshop, hosted by the JN Financial Academy at The Jamaica National Group’s Corporate Offices in New Kingston. The event was also live-streamed on the JN Foundation’s YouTube channel, attracting widespread attention.
The workshop, themed “Cultivating Good Credit Habits,” focused on the pivotal role of responsible credit management in achieving long-term financial stability and unlocking superior financial opportunities. Attendees were provided with actionable insights on understanding, building, and maintaining robust credit scores.
Miller highlighted five compelling reasons why Jamaicans should prioritize good credit. These include easier access to loans such as mortgages, credit cards, and lines of credit, as well as securing lower interest rates, which can save individuals significant sums over time. She also noted that employers may review credit scores during hiring processes, making it an essential aspect of personal and professional life.
“Strong credit offers peace of mind,” Miller emphasized. “By managing credit wisely, individuals can avoid late fees, high interest rates, and the stress of debt, which can even impact overall health. Good credit habits instill confidence and control over one’s financial future.”
She further explained that maintaining good credit is a cornerstone of wealth building, though she cautioned that wealth accumulation is a gradual process requiring time, consistency, and discipline. “Beware of anyone promising quick riches,” she warned. “True financial success is built steadily.”
Miller outlined several strategies for improving and maintaining a strong credit score, which she described as the “driver of creditworthiness.” Key factors include payment history, credit utilization, length of credit history, credit mix, and recent credit applications. She advised participants to pay bills on time, keep credit utilization between 30% and 40%, maintain old accounts, diversify credit types, and limit credit inquiries.
“Financial discipline begins with sound planning,” she stressed. “Whether at the household or national level, everything starts with a budget. Managing finances effectively is the foundation of success.”
The workshop drew over 300 attendees, many of whom praised its practical and educational value. Jay Beckford, a student at the University of the West Indies, Mona Campus, described the session as highly informative. “I gained valuable insights into financial literacy and the importance of maintaining a good credit score,” he said. Similarly, Kedifa Campbell-Boothe, a collections agent at the Jamaica Public Service Company, found the workshop engaging and useful. “It was practical, relatable, and educational,” she shared.