Banking guide for teens

Budgeting

Along with banking, managing your money is an essential life skill. Check out these sites for advice and start planning your financial success!

Sorted.org.nz including setting your goals, savings, calculators and Sorted for students

More personal finance websites

Books at your library

Personal budgets and home economics:

Time to start being in charge of your own money? This page lists library resources and bank websites so you can explore different banking options.

Get the best deal you can — and independent advice

If you are not sure about any aspect of what's being offered by your bank, get independent financial advice from someone you trust before you sign on the dotted line. Sorted's Starting Out and student pages are a good start.

Look for youth or tertiary accounts

Some banks offer specific youth packages — aimed at those at high school who may have started a first job or earn some regular income. Others offer more general accounts, perhaps with discounted fees and charges.

Most banks offer specialist tertiary student banking packages.

Bank websites and youth packages

ANZ — youth account and student package
ASB has a range of accounts for students and graduates
BNZ — Dynamic Money account for 13- to 18-year-olds and the tertiary banking focused Campus pack
CBS Canterbury offer an account for 12- to 21-year-olds
Kiwibank offers youth accounts and a tertiary pack
National Bank offers School plus and Tertiary Plus
PSIS – described on its website as not a registered bank but a very co-operative co-operative, PSIS has a specific account for 13- to 17-year-olds called the Dosh Account
SBS Bank — a range of accounts for savings and transactions
TSB has a range of accounts for savings and transactions
Westpac — Studying — general tips for students and the tertiary-focused Student Pac

Related websites

Sorted for Students — from the Retirement Commission
Kiwisaver — retirement savings scheme
Consumer.org.nz's Banking guide — guide to help you compare fees and services from different banks
New Zealand banks websites from the library's Internet Gateway

Updated February 2011

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