Youth Financial Success

Financial Guide for Young Adults

This Financial Success guide is specifically designed to help teens and young adults who are just taking their first steps in their financial journey. Here, we go through all the basics of finance such as what a savings and checking account is, how to budget effectively, and how to maintain a good credit score. Check out this brochure and the information below to get started!


  1. Credit
  2. Checking Account
  3. Savings Account
  4. Budgeting
  5. Credit Cards
  6. Rising Teen Accounts


  1. What is Credit?
    • Credit is when you borrow money from a financial institution and
      are expected to pay that money back in full.
  2. What is a Credit Score?
    • A credit score is a reflection of your credit behavior; ex: how likely
      you are to pay a loan back on time, based on information from
      your credit reports. It’s a number that can range from 300-850.
      The lower your credit score, the lower the chance you’d get
      accepted for a loan.
  3. Why is it Important to Maintain a Good Credit Score?
    • Your credit decides the amount of help you receive from your
      lender, therefore if they decide they cannot trust you with their
      money, they will not lend you any.
  4. How to Maintain a Good Credit Score
    • Pay off any credit card debt
    • Pay your bills on time
    • Don’t make additional payments with your credit card if you are
      borrowing money
    • Have a family member add you to their credit card
    • Dispute any errors on your credit report


  1. What is a Checking Account?
    • A checking account is an account you deposit money into for
      everyday purchases. If you have a debit card, it is linked to your
      checking account so it automatically pulls money from your
      account when you make purchases with it.
  2. Pros of Having a Checking Account
    • You can easily make purchases and access the funds of your
      checking account whenever you need it with no monthly limit.
  3. How to Open a Checking Account with MPCU
    • Click here for more information!


  1. What is a Savings Account?
    • A savings account is an account you use to store and save
      money, whether it’s for a future goal or emergencies.
  2. Pros of a Savings Account
    • If you deposit money into a savings account for long periods of
      time, you can accumulate and grow interest.
  3. How to Open a Savings Account with MPCU
    • Click here for more information!

Check out this blog for more information on Checking vs. Savings!


6 Steps to Start Budgeting

  1. Look at current spending habits
  2. Make a list of everything you need to spend on
  3. Account for 100% of your paycheck when making a budget list
  4. Limit unnecessary spending
  5. What to do if you run out of money
  6. Save some money for important life events
  7. Try the Free MPCU Money Management Tool HERE!


  1. What is a Credit Card?
    • A credit card is a plastic card that allows access to a line of credit
      offered by a financial institution.
  2. Benefits
    • Can help you build good credit
    • Ongoing rewards can give back some of the money you’ve spent
    • Credit card bills are flexible
  3. Downsides
    • May charge fees; ex: late payment, balance transfer, annual,
      foreign transaction
    • You will be charged interest at varying amounts if your balance
      isn’t paid in full by month’s end
  4. How to Have Your Credit Card Work in Your Favor?
    • Try your best to pay your bill in full and on time every month
    • Keep your credit card balance below 30% of your available credit.
    • Make sure at least 6 months have passed before your last
      application before applying for a new credit card
  5. How to Open a Credit Card With MPCU


Our Rising Teen Accounts are designed to help teens like you start saving. Teens between the ages of 14-17 are eligible to open this account with a parent (parent must be present). Come into the credit union today and open an account with a couple quick steps!

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