Updated: October 7, 2022
Sponsored by Hawaii State FCU
“When we speak to young adults, we like to remind them that it’s never too early to learn about financial education,” said Sims.
First, she says, you can create S.M.A.R.T. (specific, measurable, attainable, realistic and timely) goals. For example, if your goal is to pay off a loan, you can say you’ll pay off that loan in two years.
Creating a budget is also a helpful way to manage your finances. First, designate a certain amount of money for necessities, like food, rent, and gas. Then, plan out the rest of your money for time with friends, shopping, or other leisure spending.
Finally, young people should start saving for their futures as early as possible.
“You want to get in the habit of saving because, as you get into adulthood, that’s going to create healthy financial habits for you.”
HSFCU is holding a virtual seminar about financial management for young people on June 23. It begins at 10 am and is free, even if you are not a credit union member. It will cover topics such as paying for school, receiving your first paycheck, and opening a checking account.
In addition to the seminar, HSFCU also visits schools to teach students about managing their money. It also has virtual tools on its website, including online courses and calculators.
For more information: hawaiistatefcu.com
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