As an adult, you will probably need to have a bank account so you can pay your bills. You may apply for a credit card. You may take out a loan for a home or car purchase. You may take need help paying for your college education. The links on this tab will help you navigate these common personal finance situations.
Understanding a Check and Balancing a Checkbook
Never written a check or balanced a checkbook before? This site has a quick, clear rundown of how to do both:
FDIC's "Get Banked"
What do you need to open a bank account? Which bank is best for your needs? What's the difference between checking and savings accounts? Why do I need a bank account, anyway? If you're opening a new bank account for the first time (or thinking about it), check out this page to help you find answers to these questions. (There are a lot of helpful links on this page, so be sure to check them out, too!)
Investopedia: Credit Unions vs. Banks
Wondering what the difference is between a bank and a credit union? Which is right for you? Take a look at this article from Investopedia for the complete run down comparing credit unions and banks:
Tracking your income and expenses is important! There are lots of ways to go about it.
Tech Tools for Managing Your Money
You can track your income and expenses in Excel or Google Sheets. Here's a free tutorial from Coursera that will help you use Google Sheets to make a budget:
Create a budget with Google Sheets
Here's a Nerdwallet article with pre-made budget templates. (Because who wants to reinvent the wheel when you've got better things to do!):
Budget templates and spreadsheets
You can also use personal finance software to track your spending. Some of these programs are even free! For the rundown on the personal finance programs, check out this review from Techradar to see if one of these programs could work for you:
Reviews of personal finance software
Consumer Reports
Feel confident in your purchases by checking the product testing and reviews of various items from laundry detergent to vehicles. Access provided by the Michigan eLibrary.
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