Amrita Ramabadran | Aug 2024 | 2 Min Read
Hey everyone! so this is where I coach, and between teaching kids at the rink and trading with my birthday money on Fidelity, I’ve been learning about money stuff we should all know but like… nobody really teaches us??
here’s what I wish someone told me earlier:
Bank Basics 💳 You can literally open a bank account without anyone judging your age or income. Also?? You DON’T need a huge minimum balance for basic savings accounts. Banks have to tell you about all fees upfront – if they’re being sketchy about costs, that’s a red flag.
Loans aren’t scary (but know your rights) Whether it’s for college or whatever, you can always say NO to a loan. Nobody should pressure you. Everything should be explained clearly, and they HAVE to give you copies of everything. Hidden fees after you sign? Nope, not legal.
Don’t get scammed 🚫 Okay so storytime: when I got my first Wells Fargo account, I actually gave someone my PIN because I thought it was legit. Spoiler alert – it wasn’t. My parents had to close that account and I felt SO stupid. But that mistake forced me to actually learn about fraud protection.
Real talk: never EVER share your PIN or those OTP codes. Not even to people who sound official. Your bank will NEVER ask for that. If you report fraud within 3 days, you’re protected from the loss. Learn from my mistake so you don’t have to make it yourself 😭
Why this matters to us You can access scholarships and government programs through direct deposit. Women have the right to own property and bank accounts in their own name (yes this still needs to be said in 2025). And if you’re in any investment clubs or programs, you have the right to understand exactly how your money is being used.
Ask questions = not annoying You have the RIGHT to ask about any financial product until you actually understand it. Get everything in writing. Monthly statements, annual summaries – all yours to request. Learning this made me way more confident reading my Fidelity statements.
Look, I’m just a junior trying to grow my pocket money through some trades and savings from coaching. That Wells Fargo incident was embarrassing but it taught me to take this stuff seriously. If something feels wrong with your bank or a loan, contact their grievance department or a consumer helpline.
knowledge = power, especially when it comes from mistakes ✨
(also if anyone needs tips on figure skating or wants to talk about investing, hmu 😂)