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Starving Student

Learn to manage money and prepare for the cost of higher education

You may still rely on financial help from your parents or other family members, but it is not too early to start cultivating sound money management habits.  Many financially sound adults accomplished their goals through careful financial planning that began when they were students. 

How can you start on the path to sound money management? 

  1. Become a Star Saver:  Learning to save money in your teens and college years is an excellent habit that will train you be a good money manager for the rest of your life.  Set goals for your money and start saving now.  If you have no immediate goals, your goal can be to have a money cushion for when that important need for cash occurs.

Certificate of Deposit - For the teen or college student who desires a savings option that pays them back at a higher rate, a Certificate of Deposit is a great choice. 

Savings Account - A penny saved is a penny earned.  Whether you are a teen or college student, PCB offers an account that is easy to start, easy to use, and pays you interest on the money you save. 

  1. Start a Checking Account:  A checking account provides a means to learn how to responsibly handle cash, make smart financial decisions and keep track of your spending records.  Whether you use a debit card or paper checks, your checking account can help you manage your budget by paying your bills on time and balancing your checkbook.  With these good habits, you can start building a good credit reputation now.

Starving Student Checking - This rewards checking account is perfect for students that live away from home.  Take advantage of the FREE domestic Bank to Bank transfers and many other features this account offers.

Totally FREE Checking - Looking for a checking account with no service charges and fast, convenient access to your money? This is the account for you.  Totally FREE Checking was created for people who want a basic checking account and the tools to make their life easy.

  1. Plan in Advance for College:  It is never too early for pre-college students and their families to identify and earmark the financial resources they have available to fund a college education—whether from savings, loans, grants, scholarships or work income.

  2. Federal Financial Aid for Higher Education (FAFSA):  All college applicants and their parents or guardians should become familiar with the most recent FAFSA guidelines and deadlines which can be found at  http://www.fafsa.ed.gov/.  Applications for federal student aid may also be available from your high school counselors, public library or college financial aid office.

  


Tips for Effective Financial Management
  • Set a savings goal and keep track of your progress.
  • If you have a job, don’t spend everything you make.
  • Record ALL your transactions daily for your checking and savings accounts, whether they are made with debit or credit cards or paper checks and deposit slips.
  • Know your account details such as overdraft charges, interest rates,withdrawal restrictions, minimum balances, etc.

 

For help determining the best accounts and products for sound and productive money management during the Starving Student lifestage, please contact us.