Open a Bank Account and Save Money

You will want to save your own money and have your own bank account. If you are under 18 years old, you will need your caseworker or another trusted adult’s help with opening an account. However, the money in your account belongs only to you. You should know that if you are receiving Supplemental Security Income (SSI), you cannot have more than $2,000 in your bank account or cash. Learning how to save money is an important part of becoming an adult.

You should ask your PAL staff if you are able to open a checking and savings account through the DFPS financial literacy program – it is currently only available in certain regions. Click here for up-to-date information about the program.

See Checking and Savings Accounts for more information about bank accounts.