The Simple Habit That Builds Financial Confidence: A Savings Account (or Two)

When your young adult opens a savings account, they’re doing more than putting money away—they’re building healthy financial habits, confidence, and future possibilities.

Even better? Encouraging them to open two savings accounts can help them create structure and purpose around their money, without making things too complicated.

Here’s why it works:

• One savings account becomes their spending savings—used for important future expenses (like a new laptop, next year’s rent, or a trip abroad).
• The other is their financial freedom account, which builds toward long-term dreams: investing, buying a car, starting a business, or just knowing they have a nest egg.

By helping them set up multiple, purpose-driven accounts, you’re teaching them how to plan ahead, manage resources, and feel empowered about their financial choices.

Tips to Share with Them:

• Save at least 10% of what you earn.
• Keep savings separate from checking to reduce temptation.
• Make sure accounts are fee-free and linked to checking for easy online transfers.
• Name the accounts to stay motivated.

Our free downloadable checklist makes it easy to start—and even easier to stick with.

Grab our free savings checklist on our FREE Resources page

And if you haven’t already, pick up a copy of Unsolicited Advice for the High School Graduate: A Practical Guide for Becoming Independent—it’s full of smart, encouraging tips to help your young adult thrive.