Concept of the Month: 10 Major Money Rules

Money management skills can be developed at an early age, and Young Americans Bank is here to help! As a young adult, you can master money management by closely following these financial rules: 

1. MoneyMoney spent must never exceed the income available. 
2. Save a part of all the money you receive. 
3. Put your money to work earning interest. 
4. Avoid borrowing because interest charges must be added to the original cost of the item. 
5. Learn to distinguish between needs and wants. 
6. Set investment goals. 
7. Create a spending plan as a guide. 
8. Research price and quality before making a purchase.
9. Buy quality, not quantity. 
10. Reduce service charges and commissions when possible. 

Remember, good money management takes practice. If you follow these rules, you’ll be in great financial shape!