You may still rely on financial help from your parents or other family members, but it’s 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?
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.
Community First Bank offers saving accounts specifically designed for students:
Minor/Student Savings –
When you are 18, you may open a savings account on your own at the bank. Younger students may open checking accounts with the co-signature of a parent, and you need to do this together inside the bank.
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, including paying your bills on time and balancing your checkbook. With these good habits, you can start building a good credit reputation NOW.
Student Checking – If you like to hear the word “free” and you are a student on a limited budget with a busy schedule, our student checking account is designed to meet your needs.
When you are 18, you may open a checking account on your own at the bank. Younger students may open checking accounts with the co-signature of a parent, and you need to do this together inside the bank.
It’s 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. Here are some sources to help you and your parents plan how you will finance a higher education:
For help determining the best accounts and products for sound and productive money management during your Student Lifestage, please contact us at 337-365-6677 or firstname.lastname@example.org. We’re here for you!
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