I’m an Adult! Now What? First Steps into Managing Your Own Finances

You’re 18, finished with high school, and ready to take on the world! Young adulthood is an exciting, but also sometimes confusing and stressful, time. Suddenly, you need money for education, rent, and transportation, but you’re still too young to be raking in a large income. How do you balance it all?

Here’s the good news: you don’t have to figure it all out right this minute. However, by taking a few small, committed steps today, you can build a lasting, healthy financial future.

Get Your Education Rolling

Getting a college education is one of the best decisions you can make for increasing your earning power. However, tuition and fees continue to outpace inflation at alarming rates, putting significant pressure on students and their families. Welcome to adulthood, right? It’s rough out there, but with a partner like Millstream Area Credit Union, you can ease the burden with flexible student loans through Sallie Mae. Start the road to your degree with a loan that offers competitive variable and fixed interest rates, no origination or prepayment penalty, and multiple repayment options. 

Build Your Credit 

Older generations may discourage you from using credit cards, but if used responsibly, that simple piece of plastic can become your golden key to a strong financial future. As a brand new adult, you may not be thinking about home or even car loans—yet. But when you begin to apply for these, institutions will run a credit check. Using a credit card wisely (paying off your balance and always paying on time) will not only help you spend responsibly and build a high credit score, but earn you perks and rewards! With Millstream Area Credit Union, you can start out on the right foot with our Visa Platinum Credit Card with uChoose Rewards. Oh, and we won’t charge you any annual fees. 

Drive Toward Success

A job and school are two integral parts of building a successful adulthood. If you’re fortunate enough to live within walking distance of these places, you can save money and get exercise by footing it. If you’re like most people, you’ll need some wheels. A MACU Auto Loan makes the badge of adulthood known as car ownership a little easier. Our product offers a long list of benefits, such as flexible terms and competitive rates, pre-approval for better buying power, discount CarFax reports, $100 when you buy through Carvana, and personal service for the life of the loan. 

Save, Save, Save

Lifelong healthy financial habits start now! Set a goal to save a percentage of your paycheck each month. Better yet, “set it and forget it” by automatically transferring a set amount from your checking to your savings each month. With no monthly fee, free online banking, and competitive dividends on balances over $500, a Millstream Share Savings Account will establish your membership with our credit union while ensuring you’ll never be left dry on a rainy day. Ready to take your savings to the next level? Find out how to make a money market account or IRA start working for you. 

Adulthood can throw a lot of challenges and surprises your way, but it also offers the freedom and independence you’ve been dreaming of all these years. When it comes to finances, you got this, and Millstream Area Credit Union is ready to help you every step of the way! 

Start your journey into adulthood with a partner like Millstream Area Credit Union.