Save Smart from the Start!

Last year, over half of young Americans ages 18-24 were employed during the summer, according to a report from the Bureau of Labor Statistics and this summer is forecasted to be the same.

This means that, right now, tens of millions of young people are either looking for or starting summer jobs. Although many of these young people are entering the workforce and making money for the first time, it certainly won’t be the last. The money habits they learn now can last a lifetime, so, to start the summer job season off right, we recommend the following four savings tips:

Keep Track of Your Goals

According to Americasaves.org, adolescents who make a plan to save and set savings goals are more thoughtful about the way they spend money and tend to be more focused employees. They’re also more than twice as likely to make excellent progress meeting their savings goals, and are more likely to reduce their debt or even be debt-free, according to this study. A savings plan should include the following:

• What you’re saving for
• How much you will save each month
• How many months you will save for

Learn to Budget

Budgets are important and the best time to learn how to set one and stick to it is when a person doesn’t have a lot of income or monthly bills and expenses; AKA those early years of summer jobs. Budgeting the right way will liberate you to spend intelligently while those savings continue to pile up. For detailed advice and steps to learn how to budget your money, click here!

Use Direct Deposit

Don’t lose out on any of that hard-earned pay by cashing paychecks. It costs money to do so and it’s inconvenient! If you don’t already have one, open a checking account with First Choice Credit Union. It’s free and there is no minimum balance. Your employer can simply deposit paychecks directly into your account and you won’t have to worry about added charges.

Open a Savings Account

After opening a checking account, it’s a good idea to open a savings account as well. Having a separate account for savings helps keep that money out of sight and out of mind, limit the temptation to spend it. Even more important, keeping money in the bank is the best way to ensure its safety. Learn more about opening a savings account with us at First Choice Credit Union here.


The most important takeaway is to be smart with money and set goals. Develop good money management skills with your first job and carry them all through life, it’ll pay off in the long run!