You’re starting to earn money and have more independence—yay!
SmartyPig’s free online piggy bank can help you manage and save for your goals.
We’ve put together our top tips to help you manage your money after graduation. Below you can test your financial knowledge by taking our Money Smarts Quiz and put together a realistic budget with our interactive budgeting tool. Think of it as Real World 101.
You've got this!
Hey Savvy Saver!
We’ve put together our top tips to help you start managing your money. Below you can test your financial knowledge by taking our Money Smarts Quiz and put together a realistic budget with our interactive budgeting tool. Think of it as Real World 101.
You’ve got this!
What is a checking account?
That’s right! A checking account is a bank account that lets you write checks from the account. A checking account is one of the most common types of bank accounts.
Whoops! The right answer is A: A bank account that allows you to write checks. Fun fact: this is one of the most common types of bank accounts!
What is a savings account?
Yep! A savings account is a bank account that lets you store your money (your savings). Plus, most banks will let you earn a % back on the money you keep in this account. Score!
Whoops! The right answer is B: A bank account where you can store money (your savings) and most banks will let you earn a % back on the money you keep in this account. Score!
What is a credit score?
That’s correct! A credit score is a number that represents your credit lending risk. This number helps lenders predict how likely it is that you will pay back the money you have borrowed.
Whoops! The right answer is D: both B & C. A credit score is a number that represents your credit lending risk. This number helps lenders predict how likely it is that you will pay back the money you have borrowed.
Why is building good credit important?
Yup! Building good credit is important as companies use this to assess how risky it is to lend you money. The better score you have, the lower the interest rate charged to you is.
Whoops! The right answer is B: Having a good credit score can help you get a lower interest rate on credit cards or loans. Building good credit is important as companies use this to assess how risky it is to lend you money. The better score you have, the lower the interest rate charged to you is.
How can you achieve financial security?
That’s right! You can get on the path to having financial securing by keeping in tune with your monthly expenses and budgeting to make sure you can pay for it all. If you make sure you are keeping your monthly expenses lower than what you earn per month, you can start saving and building your wealth.
Whoops! The right answer is C: By keeping in tune with your monthly expenses and budgeting to make sure you can pay for it all. You can get on the path to having financial securing by keeping in tune with your monthly expenses and budgeting to make sure you can pay for it all. If you make sure you are keeping your monthly expenses lower than what you earn per month, you can start saving and building your wealth.
Now that you’ve tested your knowledge, you’re ready to start saving for your goals! Sign up for a SmartyPig account today.
Get started!
See How your budget measures up
A budget tracks the money you make compared to what you spend. Creating a budget will help ensure you have enough money to pay for things you need.
| Needs | Cost |
|---|---|
| [[ costRow.needsLabel ]] | $ |
| Total | $ [[ totalCosts ]] |
| Income (allowance, earnings, gifts) | Amount |
|---|---|
| [[ incomeRow.needsLabel ]] | $ |
| Total | $ [[ totalIncome ]] |
Then plug your numbers into this simple equation.
Income (allowance, earnings, gifts)
Needs
Money to save and spend
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