- May 2025
- Premier America
If you're between the ages of 12 and 15, chances are you're already thinking about what life might look like in high school—and maybe even beyond. Whether it's saving up for a car, landing your first part-time job, or just figuring out how money works, this is the perfect time to start building habits that can lead to future financial independence.
Let’s break down a few key things every teen should know before they turn 18. (Hint: It's more than just getting a job—it's about managing your money wisely once you start making it.)
Opening a Checking Account
If you’re earning money or getting an allowance, a checking account is your first financial tool. It gives you a safe place to store your money and lets you make purchases with a debit card instead of cash.
Look for a teen-friendly account (like the ones offered at Premier America Credit Union) that has:
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No monthly fees
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No minimum balance
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Free mobile banking access
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Built-in budgeting tools
Understand Credit Scores (Yes, Already!)
You might not be applying for a credit card yet, but it's never too early to understand how credit works. A credit score is like a grade for how well you handle money. Later on, this score can affect:
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Whether you get approved for a loan or apartment
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What kind of car you can buy
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Even your job opportunities in some cases
While most teens won’t start building credit until they’re 18, knowing how it works now gives you a huge advantage later.
Bonus: Ask your parents if they can add you as an authorized user on a credit card to help you build credit early—with their guidance, of course.
Manage Your First Paycheck Wisely
That first job is exciting—but don’t let your paycheck disappear in a weekend. Here’s how to handle it:
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Save 20-30% for future goals (car, college, trips)
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Use a budgeting tool like the one included in your online banking app
Learning to pay yourself first is one of the most important money moves you can make.
Build Smart Spending Habits
Whether you’re using your debit card online or swiping it at the mall, remember just because the money is in your account doesn’t mean you have to spend it. Try this:
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Set a weekly spending limit
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Ask yourself: “Do I want this now, or something bigger later?”
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Avoid impulse buys by waiting 24 hours before making big purchases
Smart money choices now = more freedom later.
Start Early, Stress Less
Financial independence doesn’t happen overnight—but starting now gives you a head start before adulthood. The habits you build today can help you:
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Avoid debt
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Save for your dreams
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Feel confident with money before your friends even start thinking about it
Want more real-world tips on budgeting, saving, and spending smarter?
Check out our dedicated youth podcast, The Launch or visit your local Premier America branch to open a youth savings account today!