Updated: Jun 18, 2019
It’s National Credit Union Youth Month in April so we want to share some tips about how people of all ages, and especially youth, can take steps to plan a bright financial future. So, what are the keys to winning with money for a lifetime? Here are four steps to get started.
Attend Training Camp
Just like football players attend training camp to learn the plays for each football season, the first step to being successful with money is to learn what you need to know. Take a course online, attend a seminar at your local credit union, watch a YouTube video or listen to a podcast. Topics to focus on could include: How to set up a budget, save for retirement, avoid and pay off debt, save money on your daily expenses and invest in real estate or the stock market.
Find the End Zone
Living life without goals is like playing a football game without an end zone. If you have nowhere to go, you will just run around the field in circles. So, take time now to dream about what you want for your future over the course of your life. Think about where you want to live, what you want to do, what you want to achieve and how you want to spend your retirement. The answers to these questions are your goals.
Develop Winning Plays
Once you know your goals or where your end zone is, you need a plan of action to get there. Your plans are like the plays that coaches develop to take the team into the end zone. In your financial world, you need to have a variety of “plays” that will help you win with money. For example, setting up a retirement account will help you live your dreams later in life. Or setting up a savings account will help you save for your first house. Other goals could include building your credit so you can get a loan to buy a car or house or getting higher-level education to increase your income so you can afford to take your dream vacation.
Stay Focused on the End Zone
In the game of football, there is a lot going on in the stadium. If the players get distracted by the cheerleaders or the fans cheering or booing, they lose focus and will lose the game. In real life, many challenges and distractions take place over a lifetime so make sure that you stay focused on your financial end zone. To do this, set a money check-up meeting with yourself the first Saturday of each month. Take time to review your current financial condition and get refocused on your dreams.
Whatever your goals are, your credit union team members are here to be your coaches, trainers and cheerleaders for a bright financial future. To learn more about the special programs and accounts available for youth, contact us at (210) 223-6561 or stop by a branch.
If this article has been helpful to you, share it on your favorite social media channel with the hashtag #CUYouthMonth.
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