Ask our experts > Establishing Credit > I am not currently employed and I depend on my parents for monetary possessions, so would it make sense to have a checking account and there's no personal funds coming in?
You may still want to consider having a checking account of your own. You may earn some income of your own – allowance, babysitting gigs, birthday or holiday money – even if it’s not from a steady job. When it comes to learning about managing money, a checking account is a great way to start.
Many of us learn through experience. Managing a checking account helps you gain financial confidence and learn good habits. Plus, having a checking account will allow you to track how and when money comes in and goes out. This is the first step to forming and sticking to a budget that works for you, which will be key to financial success later in life.
Since your parents are still involved with your finances, you could make them joint on your account. This way, if your parents also have their savings and checking accounts at South Carolina Federal, they can transfer money to you as simply as a click online – anytime. The MY Account products for the under-25 crowd might just be perfect for you!
Thanks for checking out what youngfreesc.com can do for you!
Asked by Kristal
