Solutions for Life!

Graduation Season: Financial Tips for High School and College Grads

Graduation season is here—a time of celebration, new beginnings, and exciting transitions. Whether you’re stepping out of high school and into college or entering the workforce after earning a degree, this milestone brings new responsibilities—especially financial ones.

At ICCU, we’re here to help guide you through the next chapter. Here are a few key financial tips for high school and college grads to set a strong foundation for the future.

1. Open Your Own Checking and Savings Accounts

One of the first steps in gaining financial independence is having your own accounts. A checking account allows you to manage everyday spending, while a savings account helps you build a safety net and set aside money for future goals.

Look for features like:

  • No or low monthly fees

  • Mobile and online banking access

  • Easy transfers between accounts

  • ATM access and debit card controls

If you’re a recent high school grad, this might be your first time managing money on your own. Starting with accounts designed for young adults can make the learning curve easier.

2. Create a Budget You Can Stick To

Whether you’re earning your first paycheck or managing a student loan disbursement, budgeting is essential. Begin by tracking your income and expenses. Prioritize needs like rent, groceries, and transportation, and make room for savings—even if it’s a small amount each month.

ICCU offers budgeting tools through online banking that can help you visualize where your money is going and set custom goals.

3. Start Building Credit Responsibly

Establishing good credit early will benefit you down the road, especially when it comes to renting an apartment, buying a car, or securing a loan. Consider opening a credit card with a low limit or using a credit builder loan to start developing your credit history.

Remember to:

  • Only borrow what you can repay

  • Pay off your balance in full each month

  • Monitor your credit score and report regularly

ICCU offers credit builder options and friendly advice to help you build credit the right way.

Listen to our podcast “Credit Score 101” at XXXXXXXXXXXXXXXXXX link to blog post

4. Set Financial Goals

Graduation is a great time to think about short- and long-term goals. Whether it’s saving for a car, creating an emergency fund, or planning a move to a new city, having clear financial goals will help you stay motivated and intentional with your money.

Start small and stay consistent. Even $25 a month in a savings account adds up over time.

5. Make the Most of Graduation Gifts

If you receive monetary gifts from an open house or graduation celebration, consider using that money to jumpstart your savings. It's a great opportunity to open a dedicated savings account or even purchase a certificate of deposit (CD) for a longer-term savings goal. CDs often offer higher interest rates than regular savings accounts and can be a smart way to grow your funds while keeping them secure.

ICCU offers a variety of savings options to help you make the most of every dollar and build strong financial habits from the start.

ICCU Is Here to Help

Graduating is an exciting accomplishment—and with the right financial tools and habits, it's also the perfect opportunity to build a strong financial future. At ICCU, we’re here to support you every step of the way, from your first account to your first big financial decision.

Congratulations, graduates. Your future starts now.

Nicole Mozurkewich