Need a Hand with Your Finances?

Top-Rated Financial Partners For Young Adults at Texas Bay Credit Union

You're growing up and managing your finances and credit can be tricky. Texas Bay takes being your Financial Partner seriously! Here we offer tips to prepare you for the world ahead of you and to financial success! 

Budgeting 101

The best thing you can do to prepare for college is to create a budget and stick to it! Budgeting is crucial for students to manage their finances effectively. Here are some tips to help you create and stick to a budget:
  1. Track Your Expenses: Start by tracking all your expenses for a month. This will give you a clear picture of where your money is going and where you can cut back. Use this Excel Workbook to track your expenses for a month.

  2. Create a Budget: Based on your tracked expenses, create a budget that allocates specific amounts of money to different categories such as groceries, transportation, entertainment, etc. Make sure your budget accounts for both fixed expenses (like rent and tuition) and variable expenses (like eating out and shopping).

  3. Differentiate Between Needs and Wants: Differentiate between essential expenses (needs) and non-essential expenses (wants). Prioritize your needs in your budget and allocate money to wants only after taking care of your needs.

  4. Set Realistic Goals: Set short-term and long-term financial goals. Whether it’s saving for a trip or paying off student loans, having clear goals will help you stay motivated to stick to your budget.

  5. Revise as Needed:  Your budget doesn't have to be rigid... things change. As changes happen, revise your budget. But remember to always find ways to save money, not just spend it.
We offer two budgets to download:

Basic Budget - To use while in high school. This Excel Workbook budget is easy to complete and provides a pie chart to quickly see where your money is going.

College Budget - This Excel Workbook budget includes college-related expenses to help prepare for your freshman year and beyond.

For More Budgeting Tips

Federal Student Aid

All college students start with the FAFSA form. Any student, regardless of income, who wants to be considered for federal, state, and school financial aid programs must complete this form. This includes grants, scholarships, work-study funds, and loans. Additionally, many states and colleges use information from the FAFSA form to determine your eligibility for their grants, scholarships, and loans.


Scholarships are often awarded based on academic achievement, talent, or other criteria set by the scholarship provider. They can be funded by various sources, including colleges, universities, private organizations, foundations, and individuals. Scholarships may have specific eligibility criteria, such as academic performance, extracurricular activities, leadership qualities, or special talents (e.g., sports, music, art). They can be merit-based, need-based, or awarded based on a combination of factors.
Each year, Texas Bay offers five students $3,000 scholarships based on academic excellence, financial need, and leadership.


Grants are typically need-based financial aid awarded to students based on financial need, as determined by the information provided on the Free Application for Federal Student Aid (FAFSA) or other financial aid applications. Grants are usually funded by government agencies, such as federal or state governments, or by institutions. Grants are primarily awarded based on financial need. Eligibility for grants is determined by factors such as income, assets, family size, and the cost of attendance at the institution.

Private Student Loans

Private student loans are a type of loan offered by private financial institutions, such as banks, credit unions, and online lenders, to help students and their families cover the costs of education. Here are some key points to understand about private student loans:

  1. Eligibility: Eligibility for private student loans typically depends on factors such as creditworthiness, income, and the borrower's debt-to-income ratio. Unlike federal student loans, which do not require a credit check for most borrowers, private student loans often require a credit check, and borrowers with a good credit history may qualify for lower interest rates.

  2. Interest Rates and Terms: Interest rates on private student loans can vary widely depending on the lender, the borrower's credit history, and other factors. Interest rates may be fixed or variable. Additionally, repayment terms, including the length of the repayment period and whether there is a grace period before repayment begins, can vary among lenders.

  3. Loan Limits: Private student loans may have higher borrowing limits compared to federal student loans, allowing borrowers to borrow enough to cover the full cost of attendance, including tuition, fees, books, housing, and other expenses.

  4. Cosigners: Many private student loans require a cosigner, especially for borrowers who have limited credit history or income. A cosigner is typically a parent, guardian, or another creditworthy individual who agrees to share responsibility for the loan and repay it if the borrower is unable to do so.

  5. Flexibility: Private student loans may offer more flexibility in terms of repayment options, including deferred repayment, interest-only payments, or immediate repayment while the borrower is still in school. Borrowers should carefully review the terms and conditions of private student loans to understand the repayment options available.

Understand Your Credit Score

Your credit score is more than just a number; it's a vital indicator of your financial well-being. Understanding and managing this score can be the key to unlocking numerous financial opportunities and achieving your dreams. Whether you're dreaming of a new car or simply striving for financial stability, your credit score plays a pivotal role. Read more about how credit scores are calculated and what you can do to build and maintain a healthy credit score.


Watch Debt & Pay It Off

Lenders look at how much debt you have in relation to your income. This is called the debt-to-income ratio. It is used by lenders to assess your ability to manage monthly payments and repay debts. It compares your total monthly debt payments to your gross monthly income. To calculate your debt-to-income ratio, add up all your monthly debt payments (such as rent, car loans, student loans, credit card minimum payments, and any other debt obligations) and divide that total by your gross monthly income (your total income before taxes and other deductions). Then, multiply the result by 100 to express it as a percentage.

A lower DTI ratio indicates that a borrower has fewer debt obligations relative to their income, suggesting they may be more likely to manage additional debt responsibly.


How Texas Bay Can Help

We offer three loans that can help you build credit:

  • First-time Auto Buyer Buy your first car with us! We offer first time buyers a deal and take into account your lack of credit. You can do it all online - search for your car and apply for the loan, all in one place!
  • Starter Personal Loan This is a small (up to $2,000), short term (12 or 24 months) personal loan that requires no collateral or asset to borrow against. Apply today and start building your credit the right way - slowly.
  • Student Loan:  Student loans are a great way to pay for college and can help your credit as long as they're paid on time!

Other Financial Tips


It's never too early to start building your resume. Building skills can come from a variety of place. Here are some great ways to do it:


Volunteering as a student can be an excellent way to build your resume, gain valuable skills, and make a positive impact in your community.
  1. Identify Your Interests and Goals: Think about your interests, skills, and career goals. Consider how volunteering can help you develop relevant skills, gain experience in your field of interest, or contribute to causes you're passionate about.

  2. Research Volunteer Opportunities: Look for volunteer opportunities that align with your interests and goals. You can search online through websites such as VolunteerMatch or VolunteerHouston. Also, consider reaching out to local nonprofits, community organizations, and charities directly to inquire about volunteer opportunities.

  3. Consider Skills-Based Volunteering: Look for volunteer opportunities that allow you to leverage and develop specific skills relevant to your career aspirations. For example, if you're interested in marketing, you could volunteer to help with social media management for a nonprofit organization.

  4. Be Proactive: Don't wait for volunteer opportunities to come to you. Reach out to organizations you're interested in volunteering with and express your enthusiasm and willingness to contribute. Offer your skills, ideas, and availability to show that you're proactive and committed.

  5. Network: Volunteering is a great way to expand your network and connect with professionals in your field of interest. Take the opportunity to build relationships with staff members, fellow volunteers, and other individuals you meet through your volunteer work. These connections could lead to valuable mentorship, advice, or future job opportunities.

  6. Track Your Accomplishments: Keep a record of your volunteer activities, including the skills you've developed, projects you've worked on, and any measurable impact you've made. This information will be valuable when updating your resume or discussing your experiences in job interviews.

By actively seeking out volunteer opportunities, leveraging your skills and interests, and reflecting on your experiences, you can make the most of your volunteer work to build a strong resume and advance your career goals.


Internships are invaluable for building your resume, gaining practical experience, and making connections in your field of interest. Here are some tips for finding and maximizing internship opportunities:
  1. Define Your Goals: Determine what you hope to gain from an internship. Are you looking to explore a specific industry, gain hands-on experience in a particular role, or build your professional network? Clarifying your goals will help you narrow down your internship search.

  2. Research Opportunities: Look for internships that align with your career interests and goals. You can search for internships on job boards, company websites, professional networking sites like LinkedIn, and through your school's career services office. Consider both paid and unpaid internships, as both can offer valuable experience.

  3. Network: Reach out to professionals in your field of interest and let them know you're seeking an internship. Attend career fairs, networking events, and informational interviews to connect with industry professionals who may be able to help you find internship opportunities.

  4. Customize Your Application Materials: Tailor your resume, cover letter, and any other application materials to each internship opportunity you apply for. Highlight relevant skills, experiences, and achievements that demonstrate your qualifications for the position.

  5. Prepare for Interviews: Practice interviewing for internships by researching the company, preparing responses to common interview questions, and rehearsing your answers with a friend or mentor. Be ready to discuss your relevant skills, experiences, and why you're interested in the internship.

  6. Be Flexible: Be open to internships in different locations, industries, and roles. While you may have a specific ideal internship in mind, being flexible and willing to explore different opportunities can expand your options and lead to unexpected learning experiences.

By actively seeking out internship opportunities, customizing your application materials, preparing for interviews, and taking initiative in your role, you can make the most of your internships and build a strong resume that showcases your skills and experiences to future employers. Texas Bay offers internships each summer. Watch for the posting on our career page or our ADP online openings.

Part-Time Work

Part-time work can be an excellent way to build your resume, gain valuable skills, and earn income while you're a student or early in your career. When considering part-time work to build your resume, look for opportunities that align with your interests, skills, and career goals. Additionally, don't underestimate the value of transferable skills gained from any part-time job, such as teamwork, time management, and problem-solving, which are valuable in any profession.

Texas Bay is Your Financial Partner

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