5 Money Tips Every Teen Should Know

Adulting might feel far away, but trust us — it sneaks up fast. One of the best ways to get ready? Learn how to manage your money now, not later. You don’t need to give up your favorite snacks or memorize stock charts. But if you want to have money for the stuff you actually care about — like college, your first car, or a fun weekend — it’s time to start building smart habits.

Here are five tips every teen should know before heading into the real world:

1. Open a checking account (even if you’re not working yet)
   Even if you’re not earning a paycheck yet, having a checking account gives you real-world practice with your money. You’ll get used to using a debit card and keeping track of what’s coming in and going out, which will help you avoid overdraft fees.

   Bonus: When you do start working, your employer can direct deposit your paycheck straight into your account — no lines, no hassle.

   At Corda, our teen accounts are designed to make it easy to learn as you go. (Plus, we won’t let you overdraw your account.)

2. Budgeting doesn’t have to be boring
   Budgeting just means making a plan for your money. That’s it. You don’t need spreadsheets or fancy apps (though you can use Corda’s free MoneyMap tool if you want). A simple note on your phone works too.

   Divide your money into a few buckets: some for spending, some for saving, and maybe a little for something bigger down the road. When you know where your money’s going, you’re in control.

3. Start saving, even if it’s small
   Think saving doesn’t matter if it’s only a few dollars? Think again. It adds up faster than you think. Try putting aside $5 or $10 from every gift or paycheck — that’s it.

   Open a Youth Savings account at Corda, and you’ll even earn a little extra just for letting it sit there. Easy win.

4. Be smart about credit cards
   You don’t need a credit card right now, but it’s good to know how they work before you get one. Credit cards are powerful tools — but only if you use them responsibly.

   Here’s the deal: If you charge $100 on a credit card and don’t pay it off right away, you could end up owing way more thanks to interest. So when the time comes to get a credit card, start small, stay on top of your balance, and don’t swipe on impulse.

5. Your money = your freedom
   The more you understand money, the more control you have over your life. Want to save for a car? Go on a trip? Avoid stress about your account balance? It starts now.

   Corda is here to help you build confidence and learn the skills that pay off, now and later.

Ready to get started?
Whether you have questions or you’re ready to open your first account, Corda Credit Union is here for you. Check out teen accounts or stop by a branch with your parent or guardian. We’ll walk you through it.