Three Financial Tips For College Freshmen

Now that most college students have been at it for a couple weeks now, they can start thinking about a bit more than getting through the first day jitters.  For all of you college freshmen out there, or if you have a student that is a college freshmen, it is not too early to start getting those finances in line!   Before you know it you will be donning the cap and gown on graduation day, and you will thank yourself then for thinking about a few of these things now:

1. Get organized!  This sounds like a no-brainer, but staying on top of the little things like avoiding parking fines and late fees for library books can really add up!  There is nothing worse than watching you bank account diminish because you were running late and had to park in the “Permit Only” zone crossing your fingers you would fly under the meter monitor’s radar.  Those fines can add up when they could have been a cushion in your savings!  Plus, with outstanding parking tickets or library fees, some colleges may put a hold on your account and not let you sign up for your next semester of classes!
2. Avoid ATM fees!  Wherever in the United States you are attending school, there is no excuse to pay those pesky ATM fees.  You may be thinking, “but my family credit union is a state away, what am I supposed to do?” The answer is simple…Benefits Checking!  Get up to $20 a month in ATM fees reimbursed by meeting a few simple requirements.  More details on www.honorcu.com.
3. Don’t get caught up in a gimmick!  You are going to start getting mail and offers for these seemingly fabulous credit cards and loan offers that will give you a free t-shirt or a even cash for signing up.  Don’t get fooled!  Often these offers are incredibly high interest rate cards targeted at students.  Stick with your local credit union options where you know all of the details and can still get some pretty cool perks with…check out Honor’s Visa rewards program for example!

We just can’t reiterate enough that it is never too early to start thinking of putting yourself in a great financial position.  We know you have a lot going on in that first semester away at school, but following a few of these simple guidelines can really add up. 

What other tips would you give a college freshmen?  Let us know by commenting on this post or by following us on Twitter @honorcu using #askhonorcu!