Bank accounts
You may need to open a bank account where your employer can deposit your paycheck. This is the safest way to manage your money.
Learn more about opening a bank account.
Budgets
A budget is a plan for how to spend your income every month. It helps make sure you have enough money to cover your expenses, such as rent, food, transportation, etc. Learn how to make a budget. Use this personal budget worksheet to make your own budget.
Credit cards and debit cards
A credit card lets you pay for things in advance. You’ll get a bill every month with all of your charges. If you don't pay the full amount by the due date, you'll owe extra money in interest fees.
A debit card lets you pay with money from your checking account. The money is immediately withdrawn from your bank account. You will not get a bill and you will not pay interest.
Debt
There are good resources to help you get out of debt, including how to find free credit counseling and how to handle different types of debt, such as car loans, mortgages, and credit cards.
Payday loans and cash advances
A payday loan lets you borrow cash that you need to pay back with fees and interest by your next payday (or another date you agree to). If you don’t repay it all, you owe more fees and interest, and you can get in a lot of debt fast.
Payday loans should only be a last resort. Instead of these loans, you could ask for more time to pay your bills, ask to borrow money from family or friends, or ask at a bank. If you get in debt, talk to a credit counselor for help.
Manage your credit
Having good credit allows you to qualify for a credit card and get loans. Learn how to build, improve, and check your credit.