Congratulations to the Class of 2019!
Shore to Shore would like to congratulate 2019’s graduates! All your hard work has paid off and the day has finally come. As you begin preparing for your future, S2S wants you to know we’re here to be your financial partner and we have a lot of great products to help you through your next important steps in life.
At S2S we don’t just want to watch you succeed, we want to help you navigate life’s biggest financial decisions. Here are some ways to help you prepare as you head off to college or your first full-time job:
- Open your own account– Now that you’re 18 and have graduated, it’s the perfect time to open your own savings and/or checking account. Already have an account? Make sure you visit a branch to sign new signature cards now that you are 18 and review all of the joint owners and beneficiaries on your account. Also, now is a great time to open a checking account if you don’t already have one.
- Save to Win - One of the most important things you can do as an adult is set aside money for a rainy day. Having your own emergency fund and putting a small amount into that account every time you are paid, can help ensure you won’t end up strapped for cash. Now that you’re 18 you can open a Save to Win savings account. Start with as little as a $25 dollar deposit and then continue depositing at least $25 dollars each month and earn chances to win cash prizes. Shore to Shore sponsors prizes that range from $50 dollars to $100 per quarter and Save to Win account holders also have a chance to win from the National prize pool which awards cash prizes up to $5,000 dollars. Contact Shore to Shore for official rules and details.
- Apply for a Credit Card– If you don’t have a credit card yet, now is a great time to apply. It can be scary getting your first credit card and the potential of amassing debt can be even scarier. But, smart money management and a low credit limit can really help you build your credit score early. Use your card for small purchases, and then pay off the balance immediately. Doing this and keeping a good debt-to-income ratio will help your credit score climb.
- Auto Loan– Now that you are going off to college or starting your career, you might need your own transportation to get where you’re going. If you find your credit isn’t high enough to get an auto loan, consider having a parent or grandparent co-sign on the loan. After you build your credit score up, you can refinance the auto loan and remove your co-signer. Remember you don’t have to get an expensive first car. You can get great cars at most dealerships for under $10,000. Important Tip! Remember to speak to us about getting pre-approved before stepping into a dealership for more bargaining power.
Shore to Shore wants you to know you aren’t alone as you start making bigger financial decisions. We’d love to sit down with you to talk about your options and help you build a game plan for the future. Contact us today to set up a one-on-one meeting with one of our Member Service Representatives.
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