Being a teen comes with a lot of exciting firsts—your first paycheck, your first savings goal, maybe even your first debit card. At Landings Credit Union, we believe in empowering young members with the tools they need to succeed financially from the start.
Why Start Early?
Learning how to manage money early builds confidence, responsibility, and long-term financial health. Whether it’s budgeting for a concert ticket or saving for your first car, the habits you form now can have a lasting impact.
Key Financial Lessons for Teens
1. Understand the Value of Money
It’s easy to spend money when it’s digital. Using cash or tracking every dollar spent helps you better grasp where your money goes.
Tip: Try keeping a weekly money diary. At the end of the week, review your spending and ask, “Did this align with my goals?”
2. Set SMART Goals
Whether it’s saving $300 for back-to-school shopping or $1,000 for a new laptop, goals should be:
- Specific
- Measurable
- Achievable
- Relevant
- Time-bound
3. Open a Checking & Savings Account
With a Landings CU youth account, you can:
- Learn how to manage your own debit card
- Transfer money between checking and savings
- View transactions in real time
- Set savings goals
It’s a safe and educational way to build banking skills.
4. Practice Responsible Spending
Before making a purchase, ask:
- Do I need it?
- Can I find it for less?
- Will I still want it in a week?
This builds delayed gratification—a cornerstone of financial discipline.
5. Learn About Credit—Before You Need It
Understanding how credit works, even before you use it, gives you a head start. Learn about:
- Credit scores
- Interest rates
- Borrowing responsibly