TDECU, Houston's premier credit union, is excited to welcome college students back to school this fall. College is often the first time young adults experience true financial independence, and this new freedom brings a host of opportunities and responsibilities.

"We recognize that college is a time of immense change and growth, and oftentimes that means students will be making their first financial decisions independent from their parents," said Laura Whitley, TDECU Market President for the Houston Area. "It's crucial for college students to make wise financial choices that will set them up for a successful future. We're excited to be here to offer solutions and guide them on this journey."

TDECU offers these suggestions:

MAKE A BUDGET

It’s a straightforward concept. Write down what you earn, subtract what you spend, with the goal of having something left over at the end of each month. Dedicate a portion to an emergency fund. A recent study found only 57% of Americans could cover an emergency of $1,000 or more. Also, set short-, medium-, and long-term goals: Do you want to spend money on a night out with your friends now, or set money aside to buy a better computer later?

TRACK SPENDING HABITS

It’s easy for students to lose track of how much they are spending every day on items like snacks, meals, and entertainment. The key is to clearly understand the difference between “wants” and “needs.” Being able to do this will help you determine your priorities and limit overspending.

UNDERSTANDING STUDENT LOANS AND CREDIT CARDS

Exercise caution and resist the temptation of short-term gratification which can lead to long-term financial stress. Students need to be aware that signing up for credit cards for immediate discounts could result in them paying two-, three-, or four-times as much for their items, if the bill is not paid in full every month. Students need to be aware of terms like introductory rates, interest-free purchases, and long-term loans, which could affect their financial health years after graduation.

TDECU is proud to have a long-standing partnership with the , which includes a shared commitment to financial education and literacy. We invest in programs and initiatives aimed at enhancing the financial health of students and the broader community. This collaboration underscores our dedication to empowering the next generation with the knowledge and tools they need to make sound financial decisions.

“We believe that knowing more about the basics of budgeting, credit cards, loans, and finances is a cornerstone of success, and our partnership with UH allows us to reach a broad audience of students who are eager to learn,” says Chris Soriano, TDECU’s Financial Wellness Manager. “Our financial literacy programs equip students with the skills they need to confidently navigate the complexities of personal finance.”

For more information about TDECU and our commitment to financial literacy, please visit www.tdecu.org or contact Sr. Communications Specialist, Dionnica Porter at dporter@tdecu.org.