Preparing for College? Remember These Financial Tools
Among the books, paper, pens, towels and sheets your college-bound student takes to school, remember to tuck in money-management essentials, too.
Success at college encompasses more than academic prowess. It also requires that students handle more personal responsibilities, including their finances. To help ensure that your student is ready for life on their own, use this checklist before they leave home.
Checking and savings accounts with debit card access – Your student will have a greater need for their checking and savings account when they go off to college. The good news is they can use their Johnson Bank checking account at school. With a Johnson Bank CheckCard, also known as a debit card, your student can access cash with over 20,000 fee-free ATMs nationwide and make purchases anywhere VISA® is accepted. Be sure your student understands the importance of carefully tracking withdrawals, purchases and deposits to prevent overdrawing their account.
Online and Mobile banking – One of the easiest ways to manage finances and track transactions is for your student to use online or mobile banking. Both will give your student 24/7 access to track their account balances and transactions. Plus, with the Johnson Bank Mobile App they can even deposit checks to their account using their smartphone or tablet.
A budget – Take the time to work with your student to estimate their out-of-pocket expenses and income for a semester. Then help them create a spending plan. Have your student write down their expenses for the first few weeks. You then can compare those expenses against their budget and your student can adjust the budget to ensure they won’t be out of money in a few months.
Ready to Go
Your Johnson Bank advisor can provide a variety of personal financial solutions to help you and your student weather the financial demands of college. Plus, you will have 24/7 access to customer support, so you’ll never feel like you're completely on your own.