Back to School: Finance 101 | Cinfed Credit Union
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Money Matters for Cinfed Members

Back to School: Finance 101

Posted on September 10, 2020
Topic Categories: Banking, Consumer Help

Boy going to school

By Coach Fin

If you have young adults in high school or college, you can help them learn money management skills that will last a lifetime. Nurture their budding independence by giving them tools to learn financial responsibility.


The basics: checking and savings accounts

When high school and college students think about finances, they often have visions of Wall Street. Before they learn the ins and outs of investing wisely, it helps to teach them practical skills they need to manage day to day life. It starts with checking and savings accounts.

Cinfed Credit Union’s Zoom checking account is custom made for 14 to 22 year olds:

It’s the perfect training ground for graduating into a Kasasa Cash or Kasasa Cash Back checking account.

They can also open a Main Share savings account with as little as $5. That’s all it takes to start good money habits and enjoy all the benefits of being a Cinfed Credit Union member. It’s a great first step toward building an emergency savings plan.

If you have younger children in your home, check out the Rockstar saver program for kids up to age 14.


Level up: financial tools and resources

Your young adults can hit the library at Cinfed’s Financial Education Center to get quick, interactive courses. It’s never too early to develop healthy financial habits. They can learn how to create a monthly budget and learn how prepaid cards differ from credit cards. They can even learn how mindful living can help manage stress (and avoid budget-busting retail therapy)


Advanced: pre-approved auto loans

If a new school year means new wheels, consider getting pre-approved for an auto loan. Cinfed’s Fast Lane Auto Loans help take the stress out of car shopping.

This is a chance to teach your kids how to set a car budget ahead of time, borrow within those means — and start the auto search armed with knowledge and a check in hand. This lets you avoid the stress of high-pressure sales tactics and the temptation to overspend.


Cinfed is here to help

How else can we help you and your family through the high school and college years? Whether you have questions about accounts, education loans, investments or other matters, our financial coaches are here to help. Just call or visit your local Cinfed branch. Here’s updated safety information so you’ll know what to expect if you visit in person.





CONTACT CINFED

Cinfed Credit Union
4801 Kennedy Avenue
Cincinnati, OH 45209
(513) 333-3800
Routing #242076656

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