Today Barry Bigelow joined GMN to start off a special three-part Money Matters Monday series. According to Bigelow, this is one of the most powerful numbers in your financial life, your credit score.

Starting with the basics, “Think of it as your financial report card,” Barry explains. “It’s a number somewhere between 300 and 850, and the higher the score, the better.”

Still, your credit score is useful in other areas too. “It influences just about everything we touch in life,” Barry says. “Landlords, insurance companies—even your car insurance premiums can be affected.”

And the benefits of a high score? They’re more than just peace of mind.

“The higher your credit score, the lower your interest rate is going to be on things like home mortgages and auto loans,” he notes. “That means more money in your pocket—and even affects when you’ll be able to retire.”

Your credit score today could shape your financial freedom decades from now. Stay tuned next week as we uncover the actual factors that make up your credit score, and how you can start improving yours.