Blog

Congrats, seniors! What a year it has been… but you made it through it all! The question you might be thinking now is, “What’s next?” We've compiled a list of 5 things you should do after high school, before you head off to college or your next adventure.

Open a Savings and Checking Account

Open a savings and checking account, if you already haven’t done so. If you're a member with us, visit our website or use our mobile app to input the zip code of where you currently are. A list of branches and free ATMs will appear. The only thing the student will need to know is that they are a member at 1^st MidAmerica Credit Union and their Social Security number or member account number.

Memorize Your Social Security Number, Member Account Number & Debit Card PIN Number

It’s important to memorize your Social Security number, member account number and debit card PIN number. It’s unsafe to carry your Social Security card and member account number in your wallet. Also, never write your PIN number on the back of your debit card or on any other paper to leave in your wallet. A thief could have access to a lot of personal info, especially if all of it can be found in one place.

Save Your Money

Who will be earning money during the summer before college? Maybe you're a nanny for the neighbor kids next door. Maybe you have a seasonal job at the park district. Maybe you’re playing in a band and have gigs three nights a week. Whatever it is you’re doing to earn money, make sure to put some of that money into your savings account. The rule of thumb is to save at least 20% of your income, while 50% should be spent on necessities, and 30% be left for the “wants” in your life.

Most high school students still live at home. While you are still living at home and have few expenses, save even more than what is recommended, especially if you won’t be working the next year. You’ll want to have the extra spending money to make it through until next summer when you’re able to begin working again.

Learn the Basics

What are tasks your parents or guardians do for you that you will need to do while at school? Here are a few tasks you should know before leaving the nest.

How to:

• Make a deposit and withdraw funds at your credit union
• Write a check
• Mail a letter or bill payment
• Log into your online banking
• Do laundry
• Cook basic meals
• Change a tire or call roadside assistance
  

Dream & Have Fun

As young adults, you’re focused on this major change in your life, but don’t forget to dream. Dream big! Let your mind run wild. Make a list. It doesn’t mean these goals or plans are set in stone. They can be used for inspiration later in life or if you find yourself needing something to do when you have extra time on your hands. Most importantly, always have fun! The days ahead will be filled with first time experiences and so many memories. Cherish them.