Financial Resources

At this point in your life, you may feel like you’ll never earn enough money for that vacation or to buy a car or to simply survive and pay your monthly bills. This section will help you learn about what you can do to improve your situation and become more financially responsible.

The resources provided will help you learn how to open a checking account, how to create a monthly budget and understand the importance of credit.

Budgeting

What can you afford to spend on an apartment? Can you afford to buy or lease that new car?  How can you save money for a great vacation next summer? All of these questions have a very simple answer: make a budget. A budget can help you get your monthly expenses under control, plan for future big expenses, or determine how much you can afford to spend on your next apartment.

Find more information on budgeting >

Opening a Bank Account

Before opening a checking or savings account you need to consider a few things such as location, bank size, fees, and type of account you will need before deciding which bank you would like to use.

Tips on opening your first bank account >

Understanding Credit

Maintaining good credit is essential to becoming financially independent and self-sufficient.  You can typically check your credit report online once per year without facing any penalties.  Having good credit will help you buy/lease a car, rent an apartment, obtain a loan, open a checking account or credit card.

Be Smart!

• Don't use check cashing services - they typically charge customers very high fees for their check cashing needs. Even if you don't have an account, most banks will cash government and payroll checks for less than the check cashing store charges.
• Beware of free money offers - nothing is free in this world so if you are being offered "free money", chances are you will be taken advantage of.  Read the fine print on anything you are signing your name to and when in doubt, always ask someone for advice.
• Credit card advice - pay attention to "additional fees" that are often listed in the "terms of use". Many credit cards charge membership or enrollment fees which are often called “annual,” “activation,” “acceptance,” “participation” or “monthly maintenance” fees. Some issuers will also charge a fee if you use the card to get a cash advance, make a late payment, or if you exceed your credit limit.

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