Financial Matters: Connect online

PORTSMOUTH, Va. (WAVY) - BayPort Credit Union is using social media to connect with its members.

Back to School Money Tips for College Bound Young Adults or Teens:

Young adults/teens have a lot on their minds as they get ready to head back to school this fall – class schedules, sports, activities, just to name a few. Managing money may not be at the top of their priority list, so here are a few tips to consider:

Know where your money goes. Money from gifts, summer job or part-time work is more easily tracked or managed when deposited in a saving/checking account; this will help with spending more wisely.

Check Your Account Daily/Set Balance Alerts. Doing this, you are aware of how much you have and, again, you see where you money goes.

Overdraft Protection. Signing up for Overdraft Protection will help you avoid fees for going over your limit.

Finding a financial institution, look for:
• low or no minimum balance requirements
• no fees
• debit/ATM card access
• FREE mobile/text/online banking, remote deposit capture (deposits made using a standard scanner) with alerts

Protect your personal information. If you have a bank or credit union account, don’t share the account information with any person or organization – even if you receive a phone call, text message or e-mail that seems to be legitimate. Criminals can still use your name, address and Social Security number to illegally obtain an account or credit card under your name. This is known as identity theft and could be harmful to your credit history. Keep your Social Security card in a secure place, and don’t carry it with you.

Plus check out the FoolProof tab on BayPort's website -- great resource!!

For more on how BayPort Credit Union is connecting with members, stop by any of the 14 BayPort Credit Union locations across Hampton Roads or click here to visit the website.