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Are you banking yet?  Half already are

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Are you banking yet?  Half already are

Got a new credit card?  Beware!  It's easy to accrue big debt when you don't see the cash coming out of your pocket.

Got a new credit card? Beware! It's easy to accrue big debt when you don't see the cash coming out of your pocket.

Got a new credit card? Beware! It's easy to accrue big debt when you don't see the cash coming out of your pocket.

Got a new credit card? Beware! It's easy to accrue big debt when you don't see the cash coming out of your pocket.

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Ever wonder how many students at your school have bank accounts?  About half of East students are banking, survey says.  

In a recent at Morton East High School, it was discovered that about half of the students in the school have a bank account.  In a random survey of 100 students at Morton East, 54 students have a bank account and 46 students do not have a bank account.  High School is typically the age when students start to get working jobs. With having a job, students have money coming in and most start up a bank account to secure their money in a safe place.  A bank account is created with a bank of your choice to help finance your money.   Chase, Fifth-Third, US Bank and BMO Harris are among the banks in the area.

Students in high school tend to share bank accounts with their parents or guardian. The reason for that is Most students in High School are under the age of 18 and can’t open an account on their own.  

“I share bank accounts with my mom, and I have a debit card,”  student Daniel Venegas said.  

There are many ways to maintain a credit card, and to be successful in keeping a good score on your credit, for example paying off everything on time either all at once or in payments. 

“It is simple by paying every bill off on time and in full,”  consumer education teacher Mr. Pyburn said.  

Being employed is a big factor in maintaining and getting a good score in your credit because` that way you’ll be able to afford and pay all your loans and credit cards.  

“I would be able to pay loans on time because I’m employed,” student Alexis Herrera said.  

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7 Comments

7 Responses to “Are you banking yet?  Half already are”

  1. George Zamarripa on February 12th, 2019 10:15 am

    Hi, my name is George Zamarripa and I’m a sophomore at East, and i could relate to this article because I do too have a bank account. I also have a older brother who is a senior and he also has a bank account. We both use our banks accounts to protect our money, and although we don’t have to pay debts or loans, my brother will soon graduate and he plans to go to college. Although he was able to get a scholarship, he will ask the bank for a loan to pay all his college expenses, that will lower his credit score, but having a bank account will really help him during college.

  2. Karime A Alvarado on February 12th, 2019 11:15 am

    I think having a bank account while being a high school student is important, only if you are employed. I think it’s a good way to start managing your money. I think it helps students mature and be responsible. That way students will realize if they’re spending more money than they should be.

  3. Jose Bolanos on February 12th, 2019 2:14 pm

    I find this article to be very interesting. The reason I find this interesting is because i didn’t know that many people have bank accounts in this school. It is a very interesting thing to look into because, as the article states bank accounts can be beneficial for students. What I really like about the article is also that they talk about credit cards as well. They talk abut how to keep a good credit score, which is very useful information.

  4. Fernando Garcia on February 13th, 2019 11:41 am

    I think that having a bank account in high school is very important as well.Having a bank account is important in high schools because as it states in the article many students that work and need a place to store there money which is the bank.Though many students share a bank account with there parents because many are under age it is still good to have one. I did find these article very interesting because I did not know that many people at Morton east had bank accounts.

  5. Paola-4 on February 15th, 2019 12:57 pm

    I think its a really good idea to have a bank account even if you do not use it much. I opened by bank account last year and I haven’t really done much with it. I only deposit money every once and a while and I have never taken money out. I also decide not to use my debit card because then I feel that it will be easier for me to spend my money on unnecessary impulse buys. I choose to save my money in order to have some saved up for when I go to college and have more expenses then I do now.

  6. Erica Castro on February 21st, 2019 11:09 am

    Having a bank account is important at a young age because that way you are independent and you are responsible for that account. I have a bank account and it just makes you feel more independent for yourself since you have all the information to that account and you manage the money from that account.

  7. Armando on May 13th, 2019 3:20 pm

    I feel like most kids now a days feel like they’re obligated to save up money so they could be prepared later on in the future on how it could be a benifit and a lifesaver .if this wa posted on the social media I would be highly interested on seeing hiw people are doing it

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Are you banking yet?  Half already are