We are excited to announce the October 2025 Financial Goals Scholarship winner is Chisom! Congratulations!
"I am beyond elated to be selected as a recipient of the 1st Financial Bank USA Financial Goals Scholarship. This recognition means so much to me, as it supports not only my education but also my journey toward becoming more financially responsible and independent. It brings me a step closer to achieving my academic goals while reinforcing the importance of financial independence and mindful decision-making. I am truly thankful for this opportunity and inspired to continue working hard toward my academic, personal, and professional growth." - Chisom O.
Everyone slips up sometimes, but money mistakes can feel especially stressful when you’re managing your finances for the first time. Maybe you went $100 over budget, missed an important payment, or purchased something you now regret. In her essay, Chisom shares a financial mistake she made in college, what she learned, and how it changed her approach with money.
"I still remember the first month I moved into my own apartment. I walked through the aisles of Walmart, finally free to make my own choices. Into the cart went cleaning supplies, throw pillows, and a few things I convinced myself I “needed” to feel like an adult. I mean, I wanted my new place to feel like home, so I bought everything at once: kitchen gadgets, décor, and what is a new apartment without a little change of clothes that screams grown? By the time I swiped my credit card, I felt accomplished, until two weeks later, when rent and utilities were due. I opened my banking app and froze. Somehow, the numbers did not add up. My balance was way lower than expected. That was the moment independence stopped feeling glamorous and started feeling real.
I had heavily budgeted for the big things, like rent, utilities, groceries, but not how much the small things would cost: cleaning supplies and a few “welcome home” splurges. The prices seemed reasonable at the time, but together they added up fast. I sat on the living room floor, still surrounded by unopened packages, feeling frustrated, wondering how I was going to pay my rent, utilities, credit card payment, and still stretch what was left for the next month.
I accepted the defeat, called my parents for financial assistance, and they came to my rescue. I was grateful but also embarrassed. I had moved out, determined to prove that I could handle everything on my own, and here I was, already falling short. But that same night, I opened my laptop and made a spreadsheet, not just a list of bills, but an honest look at where my money was actually going. I started tracking every purchase and set limits for each category, even for takeout and small convenience purchases. I deleted a few shopping apps that tempted me to “just browse,” and I began cooking most of my meals at home. It was an adjustment for the next few months, but slowly, I was bouncing back to being independent and comfortable.
As I got into a rhythm, budgeting started to feel less like a punishment and more like peace of mind. I began to enjoy knowing exactly where my money was going. Each time I stayed within my budget or packed lunch for school instead of ordering out, I felt a quiet sense of pride. I also opened a savings account and started setting aside a small portion each month into an emergency fund. Over time, I realized that being financially independent is not all perfection but taking responsibility and staying consistent.
That first-month mistake taught me more about adulthood than any class ever could. Now, before I buy anything, I pause and ask myself, “Do I need this, or am I just excited by the idea of having it?” That small question continues to guide me today, helping me make smarter choices and appreciate the value of every dollar.”
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.
