Navigator Credit Union: Financial tips for high school seniors

Published: May. 23, 2023 at 10:44 AM CDT
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MOBILE, Ala. (WALA) - It’s graduation season for high school seniors and their families. While it’s an exciting time of year, it can also be stressful, especially when it comes to money. Navigator Credit Union is committed to helping Members achieve financial success. We have ways these young adults can secure their financial future now.

Create a budget. A budget can help you manage your money effectively. You should track your income and expenses and ensure you live within your means.

Save for emergencies.

Start saving money for emergencies such as unexpected car repairs or medical bills. Having an emergency fund can help you avoid going into debt. You can start small by dedicating as little as $20.00 monthly to a designated emergency savings fund.

Understand loans. Understand the terms and conditions if you plan to take out a loan for anything, including paying for tuition or a new car. You should know the interest rate, repayment period, and any penalties for late payments.

Start saving for retirement. It may seem too early, but start saving for retirement now. The earlier you start, the more time your money has to grow. You don’t have to start big here, either. Dedicate a small amount every week, bi-weekly or monthly to go into a separate savings account.

Use credit cards responsibly. Credit cards can be helpful but can be dangerous if not used responsibly. Make sure you understand the terms and conditions and pay off your balance in full each month to avoid high-interest rates and debt.

The Navigator Platinum Rewards credit card offers no annual fee, no balance transfer fee and no cash advance fees. And you’ll earn reward points with every purchase you can redeem for thousands of items, including cash back. Want to build or improve credit? Ask about our Navigator Share Secured credit card. Learn more at

When it comes to money, it’s easy to compare yourself to others. However, everyone’s financial situation is different, and focusing on your goals and needs is important. If you are unsure about your finances, seek advice from a financial professional. They can help you create a plan that works for you and your goals. Being money smart now will set you up for a lifetime of financial success.

About Navigator Credit Union Navigator Credit Union has been guiding the Gulf Coast since 1939. Navigator is a not-for-profit credit union, here for Members, not Wall Street investors. That means the Credit Union can provide a full range of financial products and services, with better rates, fewer fees and more flexibility than most banks, including free checking, home loans, auto loans and credit cards. Navigator has 12 full-service Branches from Gulfport, Miss., to Daphne, Ala., and is committed to providing the strength, stability and financial resources Members need – no matter what happens on life’s journey. Visit to learn more or apply for membership! 1-800-344-3281