You’re never too young to start a teen savings account in New Castle, Delaware. Whether you want to save for college, spend a semester abroad, or take a gap year, having the savings to do the things you want is extremely valuable. And the earlier you start, the more money you can save.

Think about how much money you could save if you put all of your spare change, birthday money, holiday money, and earnings from your summer job into a teen savings account. Instead of spending $20 on a trip to the movies or a night out with friends, consider putting it into a savings account instead. Over time that $20 will become $40, then a hundred dollars, then hundreds and even thousands of dollars.

Over time, that savings will start to add-up—and you’ll start earning interest on it too. By the time you graduate, you could have the funds to do anything you want to do.

Here’s What You Could Do With a Teen Savings Account in New Castle

Save For College

If you plan to attend a college or university after graduating high school, there’s nothing better you can do than to start saving for it. College is expensive and the more money you contribute to your education early on, the less money you’ll have to pay in student loans later on. Not to mention, even if you are covering your tuition and student fees with a student loan, it may be worthwhile to have savings available for other interests. Perhaps that spring break trip to the beach you’ve wanted to take.

Spend a Semester Abroad

Take advantage of your college education to spend a semester abroad. Whether you want to go to Europe or South America, spending a semester in a foreign country can be one of the most rewarding experiences of your life—especially if you have the funds to do fun things while you’re there. Though student loans can cover your educational expenses, having spending money to spend a weekend in Madrid or drive down to the Chilean coast can make all the difference.

Take a Gap Year

Have you ever heard the saying, “youth is wasted on the young?” That’s because you will never have as much free time as you will right after high school or college. The problem is, though many teenagers may have the time to travel or take a gap year, they don’t often have the money to do so. With a teen savings account, you could start saving up for it. Save everything you can and start looking for flight deals. You’ll be surprised to see how your teen savings trip could fund the adventure of a lifetime.

DEXSTA Federal Credit Union offers child and teen savings account in New Castle, Delaware. Teenagers between the ages of 13-17 will even get a $20 bonus every eight deposits they make! Stick with us and we’ll help you meet your savings goals—whether you want to spend it here or abroad.