Why Personal Finance For Students Matter
College years are the time when many people establish financial habits that will carry them for the rest of their lives. Garden Savings FCU has the honor of being a credit union chosen by College of St. Elizabeth and Seton Hall University allowing us the opportunity to serve local students and staff. We not only provide personalized products such as SHU Pirate Pride Checking but also Student Checking that can assist college students with the ability to make different, smarter, better banking decisions.
Pay attention to these items to get off on the right financial foot:
- Spending plan: Know how much money you have available for college expenses. Create a workable monthly spending plan that balances income, loans, and gifts with anticipated expenses.
- Records: Use an app to track expenses or monitor expenses online. Tracking expenses will help you see where your money is going and adjust your spending as needed. Also, remember to review your financial statements every month.
- Credit cards: Commit to paying credit card bills in full and on time each month. Using credit wisely teaches you how to live within your means while creating a positive credit record that could help when buying a car, renting an apartment, obtaining insurance, and even landing a job.
- Organization: Keep all financial records, bills, and account statements in one location. This will help you pay bills on time, avoid late fees, and keep an unblemished credit score.
- Personal information: Learn about the different forms of identity theft, the kinds of personal information you need to protect, and how to protect information—even, and especially, from friends and roommates. Learn the pitfalls of careless use of social media.
Apps make personal finance easy
There are many apps or digital services to help you manage your money and Garden Savings members have access to one called Money Management through our online banking system. Tracking your spending, create a budget and much more through the free Money Management tools available to you. You can even link accounts you may have at other financial institutions so that you can view your full financial picture! For details click the link below.
Digital Banking Services
Garden Savings Federal Credit Union
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