Things You Need to Know

Here are 13 simple, smart ideas for managing your money:

• Be realistic about the income and expenses you can expect after high school.
• Know the difference between needs and wants. Focus on priorities.
• Be aware of the habits, emotions and impulses that affect the choices you make. It will help you make better financial (and other) decisions.
• You can't spend more than you make – at least not for long. Live within your means.
• Keep track of your income and expenses and manage them with a monthly budget.
• Be prepared for the future and the unexpected. Put aside some of your income every month for savings – starting now.
• You will use banking services most of your adult life, so be a smart consumer. Shop around and compare services, fees and convenience.
• If you have to borrow money, don't borrow more than you can comfortably repay. Pay loans in full, on time.
• Insurance can help people manage financial risks. If you need insurance, shop around.
• Put your money to work by investing, but invest wisely. Choose investments that fit your objectives, financial circumstances and tolerance for risk.
• No one will care about your money as much as you do. Watch for the warning signs of financial fraud.
• Protect yourself from identity theft. Keep your personal information, PINs and passwords confidential.
• A financial plan is a great tool for helping you meet your financial, education, career and life goals.