First Money Skills for Young Adults

What this is

A short financial-literacy primer aimed at ages 16–24 who are managing their own money for the first time.

Why it matters

Young adults in families affected by incarceration often carry adult financial responsibility early and with little instruction. A few habits set early prevent expensive mistakes.

What you should know

• Know three numbers monthly: money in, fixed costs, and what is left.
• Compare a bank or credit-union account against check-cashing fees before choosing convenience.
• Read the first pay stub carefully — gross pay, deductions, and net pay are different amounts.
• Building credit is slow and starts with one small account paid on time.
• Beware of any offer that requires paying money up front to receive money.
• Keep one small emergency amount separate from spending money, however small.