Mayor’s Office of Financial Empowerment Workshop: Credit Building for Teens (Virtual)

Credit Building for Teens

Even if you’re not old enough to get a credit card or apply for a loan, it is important for teens to get a head start on developing a strong credit history.  This webinar will help teens understand how credit works.

1.  If you have a job, building credit is partly about managing your hard-earned money and learning to pay bills on time, such as a monthly cell phone bill.
2. Open a checking or savings account. Responsibly managing and maintaining these basic accounts will show a financial institution that you can handle money. If the account comes with a debit card, you will get experience using a card for withdrawing cash.
3. If your job permits, set up direct deposit to your account. It is easier to save if the money isn’t sitting in your pocket!
4. The first time you borrow money is likely to be college loans.  Learn what interest is and how much you will end up replaying on top of a student loan.
5. The workshop lasts about 45 minutes, followed by time for questions.

Click on this link to register: forms.gle/2hZyxFZe4VbAeNWz7