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Financial Lessons For College Students

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Elementary and high school students aren't the only ones back in class.  Colleges will soon be back in session. And students will again be taking a crash course on finances.

As a college student, you're away from home for the first time.  And for many teenagers, facing some financial challenges for the first time.  Kiplinger has these 5 lessons to help boost your financial GPA:

  • Open a low-cost checking account in the student's college town, especially if the student's current bank doesn't have branches there.  And choose a bank with a network of ATMs that's convenient to the dorm or favorite hangout.
  • Set up an overdraft strategy.  Students are prime candidates for racking up charges by overdrawing their accounts with small purchases.
  • Downplay credit cards.  Students should first be responsible enough to manage a checking account.
  • Guard personal information.   Enough said in this Facebook generation, where kids disclose just about everything about themselves.
  • Keep track of expenses.  Before you know it, all those little things can add up to a pretty big bill.

Tuition may be the biggest expense when sending kids off to college, but the biggest life-long money lessons are dealing with the day-to-day financial challenges.

"5 Financial Lessons For College Students"