Becoming More Responsible with Your Money

Now is the perfect time to become more responsible with your money. If you have started your first job, you are probably learning about budgeting and being financially smart with your paycheck. Here are some important tips to becoming more responsible with your money:

  • Set a budget – You likely earn around the same amount from your job each week, which is great for making a budget. Set budget amounts by including your expenses and the money you want to save. Once you figure those two things out you can see how much is left to do what you want with, including saving it!
     
  • Always pay bills first – You probably don’t have a lot of bills right now, but that’ll change as you get older. Paying your bills first is a good habit to start now.
     
  • Increase your savings – If you’re lucky enough to get a raise or find that you have extra fun money left over, increase the amount you are saving. Saving money is a good skill to have and a lot of people struggle to save money as they get older.
     
  • Open a savings account – Saving money in a box in your room is one way to save money. But a better way to save money is to open a savings account at your credit union where you can earn interest while you save. Interest is the amount of money a financial institution gives your for keeping your money with them. Think of it as a “thank you” from your credit union!

Looking for more tips about how to become responsible with your money? Ask your parents what they do to save money – they’ll be impressed you asked!