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4 Financial Tips for Young Adults

Zions Bank’s summer interns share their favorite money management strategies.

Zions Bank has been in the financial services business for over 150 years. We know (and have) a lot of financial tips, but we’re always surprised by the new perspectives our interns bring to the table every summer.

This year our interns hit us with some tips that are great no matter your age or stage in life.

Logan McNatt

1 - Use it up, wear it out, make it do, or do without

Logan McNatt’s father has given him some great advice over the years. The Depression-era slogan, “Use it up, wear it out, make it do, or do without,” is one that sticks with him.

“The things we own often have much longer shelf lives than we realize,” McNatt, a software engineering intern, says. “The simple math is to ensure more is coming in than is going out.”

People sometimes focus a bit too much on what they’re bringing in — particularly if you’re starting your first “adult” job. You might be tempted to start splurging with your newfound income, but that can be a slippery slope. Living by this slogan can help keep you on track.


Ellie Huff

2 – Believe in a basic budget

The financial tip digital banking credit intern Ellie Huff lives by is budgeting.

“I know it’s basic, but it is so helpful to build out your next 5 years in an excel spreadsheet, as well as put aside cash for emergencies,” says Huff. “This way you can know where to responsibly save and spend, and not feel guilty for indulging in things that make you happy every now and then!” 

There’s a reason having a budget is one of the most popular financial tips. A budget helps keep all your expenses organized and lets you know exactly how much money you have on hand. 


Eric Neklason

3 – Play the long game with your investments

Eric Neklason’s tip relates to investing.

“One piece of financial advice that I have that sticks with me is to remember that your time horizon is longer than that of any institutional investor or market recession,” Neklason, commercial and industrial banking intern, says.

Young adults sometimes gravitate toward high-risk investments because in today’s difficult economy and job market it can feel like the only way to build wealth. But young adults have time on their side, and that can be a major advantage. 


Madeline Wayment

4 – Automate your retirement investments

Madeline Wayment, specialty loan servicing intern, also has her own long-term investment tip — automate your retirement contributions.

“This has been helpful for me because it streamlines the process and gives me peace of mind knowing that I am contributing to my future goals,” she says.

If you’re at the beginning of your financial journey, visit a Zions Bank branch near you to speak with an experienced banker about developing a savings plan. 


Content above is offered for informational purposes only and does not constitute tax, legal, financial, or business advice. Contact a specialist about your specific needs and circumstances. Content may contain trademarks or trade names owned by parties who are not affiliated with Zions Bancorporation, N.A. Use of such marks does not imply any sponsorship by or affiliation with third parties, and Zions Bancorporation, N.A. does not claim any ownership of or make representations about products, services, or content offered under or associated with such marks.

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