We are excited to announce the August 2025 Financial Goals Scholarship winner is Alyssa! Congratulations!
"I am beyond grateful to be selected as a winner of the 1st Financial Bank USA Financial Goals Scholarship! Not only will this help me to continue pursuing my education in social work, but it will also prepare me to give back by supporting others in my future. This scholarship motivates me to continue striving to achieve my goals. I am very excited to see how my education will enable me to make a difference in the communities around me. Thank you, 1st Financial Bank USA!" - Alyssa W.
College is a time of freedom and firsts: your first apartment, first real job, and first credit card. While there is much to learn about them, credit cards can be helpful tools. However, they can also lead to financial trouble if misused. In her essay, Alyssa shares how she's using a credit card responsibly in college to prepare for the future.
"When I was little, on a hot day in the summer, I begged my mother for popsicles. She told me we didn't have "popsicle money". I confidently suggested that she use her credit card, something I'd only heard of on TV shows. She laughed in my face while I was frustrated, unable to understand why she did not want to use what I assumed was free money. Upon growing up and preparing to enter college by purchasing dorm essentials myself, I can confidently understand why my mother preferred to make a financially smarter decision at the time.
I hate to burst my six-year-old self's bubble, but credit cards are not magic money, they're tools to be used wisely. This lesson has been reinforced in my life after getting my first job working retail this summer. I've been enjoying using my own money to grab food with friends or pick out new clothes while also thinking more carefully about how I spend it. I've been saving a chunk from each paycheck for college expenses, and I've already purchased the majority of my needs for my first year. Knowing how many hours it takes of running shoes from back stock to customers has made me more intentional about my purchases. This is the mindset I plan to utilize when I receive my first credit card in college. If I would not pay for something in cash now, I would not put it on a card.
Taking a moment to ask myself if I really need a cute hoodie helps me avoid impulse buys and facing regret later. Paying my balance in full each month is also key to handling a credit card properly. Interest can add up quickly, and I'd much rather keep my money than watch it go to the bank. As I do with any sort of subscription, I plan on creating a monthly reminder in my phone to ensure that I'll never miss a due date. Budgeting is a skill I have worked on and improved in for as long as I can remember. I love having my purchases planned out ahead of time as keeping track of them eases my mind. It helps me catch overspending in any areas and save for bigger costs.
For me, having a credit card will be about handling emergencies, building strong credit, and setting myself up for significant financial goals in the future. I may not have "popsicle money" every day (or at least need the sugar), but I'll have the discipline to ensure that I can afford what matters the most.”
Established in the year 1910, 1st Financial Bank USA (1FBUSA) provides quality community banking services in South Dakota, credit card and other financial services to college students and college graduates, and construction lending to builders, developers, and investors from coast to coast. 1FBUSA will award a $2,000 scholarship to a new winner each month. View full rules and eligibility at 1fbusascholarship.com.
