Youth & Teen Accounts
Accounts that grow with your kids
youth savings account
Ready…Set…Save! Our youth savings accounts help kids learn the value of money through hands-on experiences and prizes. Who said learning about finances couldn’t be fun?
Youth Savings Accounts Include:
- Prizes when they visit the credit union
- Canopy swag
- Activity book and crayons
- Extra toys
young adult checking account
Set your teen up for financial confidence. With budgeting tools and accounts designed for stress-free money management.
Account benefits:
- Free Rewards Checking Account*
- Access to a debit card
- Online and mobile banking access
- No monthly service fees
- No minimum balance required
- Sweet Canopy swag
* Members under 18 must have an adult joint on the account. Learn More About Kasasa Account Disclosures.
- ready to get started?
Every financial situation is unique! But with these tips, you’ll have the tools to design a plan tailored for your life. Help your family grow strong financial roots—starting with the right account!
teen spending tips
Ready to get going but looking for a little direction? We’ve got you covered.
Calculate your monthly income (including if you get an allowance). Next, subtract your expenses. Do you pay for your own gas or buy your own school lunches? Make sure you subtract an entire months' worth of these from your total income.
If you want an easy way to keep track of your income and expenses, consider using our free Money Management budgeting tool in our mobile banking app.
Short-term: what do you want to spend money on most? Going to coffee or dinner with friends? Buying a cool new outfit or video game? Allow yourself 10% of your paycheck to have fun or put towards something you can afford in the next month or so.
Long-term: are you thinking about college? Maybe you want to study abroad? Start putting aside 10% of your paycheck into a different savings account or envelope (if cash) to start building your way towards your goal.
Whether you're using cash only or a debit card, make sure you get an idea of how much money you have in your account or wallet every day. This will help hold you accountable so you don't overspend.
A Psychology Today article summarizes that people spend less money when paying with cash than they do paying with a card.
Remind yourself how many hours and how much work went into the money you're about to spend. Is all that hard work worth what you're about to spend your money on? If not, it might be a good idea to rethink the purchase.
If this is something you struggle with, budget for it! Set aside 10% of your paycheck for spontaneity!
Rain happens - something comes up at school and you need to buy extra supplies or you want to help out your parents during a tight month.
Put 10% of your paycheck into a rainy day fund for these unexpected occasions.
So now you have all these different items to consider, but how do you put it all together?
Let's say you make $400/month at your job and through allowances. Here's an example of what your monthly budget could look like:
Gas: $70/month
School lunches: $70/month
Short-term savings: $40 (10% of income)
Long-term savings: $40 (10% of income)
Rainy day: $40 (10% of income)
Spending money: $140