Personal Finance Tips for Recent High School Grads - Penn Community Bank

Penn Community Bank has released some personal finance tips for recent high school grads that caught our attention. It’s a fact that most 18-year-olds are not financially literate, with little guidance from parents, schools or even college courses. This often leads to poor decisions that can have lasting negative effects on their financial future.

The article outlines some simple, practical tips for first-time savers and borrowers to help jumpstart their financial journey. One such tip is for students to create a budget and stick to it. This helps them prioritize their expenses and avoid the temptation of overspending on non-essential items. Penn Community Bank also recommends that recent graduates start building their credit as soon as possible, suggesting secured credit cards as a helpful tool to establish a credit history.

The article also provides advice on choosing the right bank account for their needs, with an emphasis on finding a bank that offers low or no fees on savings and checking accounts. Additionally, the bank recommends that graduates educate themselves on the dangers of identity theft and how to protect themselves from it.

As someone who also had to navigate the tricky waters of personal finance after completing high school, I can attest to the importance of these tips. It’s essential for young adults to be proactive in their financial education so that they can set themselves up for success in the future. By following these guidelines, recent high school graduates can take the necessary steps to develop good financial habits and build a solid financial foundation.

Overall, the Penn Community Bank’s personal finance tips for recent high school grads are a great resource for anyone starting out on their financial journey. By implementing these tips, graduates will be well on their way to building a strong financial future.