Save now and succeed
Savings Accounts for Teenagers
in NH & ME
Show teenagers how to start building a future.
Make sure money management is one topic your teen studies during these critical years. Juggling a first job, a social life, and shopping trips with friends isn’t easy. A savings account helps set priorities and smart spending habits. Click below to set up an appointment at any of our branch locations.
Our Teen Savings Account Features:
Our interest-bearing savings account for teenagers also gives a parent or guardian access and visibility into transactions. Transfer funds easily and make withdrawals as needed.
Additional features include:
*Online and mobile banking terms and conditions will apply; Messaging and data rates may apply.
Why Should Teenagers Have a Savings Account?
You’re never too young to start an emergency fund, just in case. You’re getting near the age when life’s expenses increase and trust us, you’ll want to be ready. A few things to think about:
- Saving for college
- Getting a car and paying for insurance
- Moving out of your parent’s home
- Not being dependent on anybody for money
How much should I save every month?
Save a little or a lot; it’s entirely up to you and depends on your savings goals. It’s always wise to have emergency savings in the bank, no matter what.
Tip! A good fact to keep in mind as you get ready to move out into the world in the next few years: The golden rule is usually to keep three months’ worth of savings in the bank, enough to pay rent and bills.
If you have a goal, try our savings calculator to see how much you’d need a month and how long it might take to get there.
FYI for your first job.
Got a job? That’s a great step! Plan to set a specific amount aside with every paycheck. 20% is the number many people start with but go with what works for you.