Personal Finances, Youth

Roadmap to Success

Set your kids onto the Roadmap to Success and prepare them for a life of financial independence!

Click here for a printable version of the Roadmap to Success.*

Birth

Open a 529 Plan

A 529 plan is a college savings account exempt from federal taxes. Start saving right away for their higher education!

Open a Savings Account

The perfect easy-to-access place to deposit birthday or holiday money.

Starting School

Enroll in School House Savings

NBM partners with participating local elementary schools to provide parents and kids with financial education, resources, and tools.

Start an Allowance

Teach kids about the value of money by giving them an allowance in exchange for additional chores.

13-Years-Old

Open a Checking Account with Debit Card

Our checking account comes with a free debit card and free access to our online and mobile banking. Help your teen develop confidence and aptitude in good financial habits. As the parent, you can easily monitor their accounts and set limits on their debit card.

16-Years-Old

Set-up Direct Deposit

Once they start working, setting up direct deposit will ensure their money will be available to use as soon as they get paid.

18-Years-Old

Fund a Retirement Account

Start to contribute early – even small amounts can make a big difference when retiring.

Apply for a Credit Card

Developing a healthy credit history from an early age sets them up for success when it comes time to buy a house or car.

Set up Auto-Save

Teach them the benefits of automatically adding money to a savings account.

Ready for the next step?

These are just guidelines, only you will know when your child is ready for the next step on the road towards financial independence. If you’re ready to open a savings or checking account for your child, click here to start the application. If you have any questions, please contact us. We are always happy to help!

*This link opens a PDF, click here to get Adobe PDF Reader.