Primer in Student Checking


In fact, many of the life skills you learn happen outside the classroom – such as how to manage money.You attended college to build your future. And, as you probably know by now, the knowledge you gain in college goes well beyond the classroom. In fact, many of the life skills you learn happen outside the classroom – such as how to manage money. To manage money, you’ll need to obtain a checking account. Most financial institutions offer student banking programs that have special discounts and savings. But how do you know what to look for and determine what you need?

It All Starts with Checking

You can start by understanding your needs. As a student, you’ll need a checking account to help you pay bills, such as your cell phone or rent. Most financial institutions offer free checking accounts. A free checking account is one that charges no monthly fees and has no minimum balance requirements. As a student on a limited budget, you shouldn’t have to pay fees.

Add Savings

In college, you’ll want to learn the importance of building savings. When you open your checking account, open a savings account, too. With just a simple transfer each month from your checking account, you can start to build savings.

Convenience

Let’s face it, students like to keep strange hours. That’s why it’s important to be able to access and manage your money any time, anywhere. One of the key tools you’ll need to do that is a debit card. With a debit card, you can make purchases nearly anywhere in the world and bank by ATM 24 hours a day. If you travel, as students frequently do, you’ll want to look for a checking account that offers free ATM access, since ATM fees can add up quickly.

Another important thing you’ll need is online banking. With online banking you can access your accounts anytime – anywhere you have internet access. And with the bill payment feature, you can pay bills to virtually anyone, with just a few clicks of the mouse.

Your Link to Home

Many financial institutions also offer the ability to link your account to a parent’s account. That way, your parents can transfer funds into your account. It’s the easiest way to get money from home.

Credit Cards

In college, you’ll need to start building your credit rating. Some financial institutions provide the opportunity for you to apply for a low-limit credit card. By using this card wisely, you’ll be able to start establishing credit in your name, which will go a long way toward helping you build your credit history and qualify for loans in the future.

There are great programs available for students. The most important thing to do is to look at the fine print. The last thing you want to do is waste your money on fees when you can be out enjoying all those other great college benefits.

 

Related Articles

Leave a Reply