Tips to Building Your Financial Foundation

In this story we’ll be focusing on the high school years, when most young people are just breaking ground on their financial lives. If this is you, you’re in luck.

Get a Job, Even if it’s Part-time

Getting a part-time or summer job will also help you to begin gaining independence through learning self-management and time management.

If you don’t have an account, it will be important to establish one in order to begin building a relationship with a bank or credit union.

Open a Checking/Savings Account

Start Building Savings

You can store money in either a checking or savings account, but we recommend having both and putting money in savings every month that you do not touch unless in an emergency.

Building a budget will help you know where your money is going as well as help you to make money goals and work toward them.

Make a Budget

Make Some Long-term Goals

Once you have some income, have opened checking/savings accounts, begun to save, and built a basic budget it’s time to set some goals.

Begin to Build Credit

Your credit score is one of the most important financial tools you have, and has the ability to save you thousands over your lifespan.

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Money Saved Is Money Earned!