Student-Teen-College

Learn to manage money and prepare for the cost of higher education

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?

For help determining the best accounts and products for sound and productive money management during your Student Lifestage, please contact us.

1.Become a “Star Saver”

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.

ACB Bank offers saving accounts specifically designed for students:

Savings Account – Earns prevailing interest rates, compounds daily and pays quarterly.

When you are 18, you may open a savings account on your own. Younger students may open checking accounts with the co-signature of a parent, and you need to do this together inside the bank.

2.Start a Checking Account

 

3.Plan in Advance for College 

 

Tips for Effective Financial Management:

  • Set a savings goal and keep track of your progress.
  • If you have a job, don’t spend everything you make.
  • Record ALL your transactions daily for your checking and savings accounts, whether they are made with debit or credit cards or paper checks and deposit slips.
  • Know your account details such as overdraft charges, interest rates,
    withdrawal restrictions, minimum balances, etc.

Some Financial Calculators for Students

Our calculators can help you determine what you need to achieve your goals and stay on budget.

Savings Calculator  College Savings Plan