Starting off with good habits in college, especially good financial habits, is extremely important to controlling the debt a graduating college student will have; plus, it builds great financial skills that are helpful through all of their lives. Numerous experts all agree that a few basic tips that all freshmen should know can help make the financial impact of college much more manageable upon graduation.
Have you asked your parents for a loan so you could buy something you really wanted? Maybe your favorite music group just released a new CD, and you don’t quite have enough cash on hand to buy it. You ask your parents if they will loan you $20 so you can buy it right away. Then you use the money from your next paycheck or allowance to pay your parents back.
Developed by the President's Advisory Council on Financial Capability, Money as You Grow provides 20 essential, age-appropriate financial lessons—with corresponding activities—that kids need to know as they grow.
Terminology is an important part of every subject that you learn. It is important in learning about finances too. Here are a few standard lending terms that will help you when taking out a loan.
Learning about money doesn’t have to be boring. Here are a few resources to help you learn more about and manage your finances.
Are you heading off to college this fall? Don't forget to take your credit union along with you!
How many retirement accounts do you have? If you've changed jobs a few times over the years, you could have several accounts housed in different employers' plans.
It's important to get into good savings habits even if you don't have a lot to save. If you get into the habit of depositing part of your money into savings regularly, you will be on your way to developing good lifelong savings habits. Often, people call this "pay yourself first." This means to deposit money into your savings account before spending it on something else.