Students are a group of people that are pretty much a category of their own, especially when it comes to the personal finance industry. There is really a lot of literature written specifically for students, but does that mean that every student is going to be on the same page in terms of actual personal financial knowledge? Not so much. However, this is a data point that’s changing rapidly, so to speak. In other words, more and more students are realizing that just because they don’t have a lot of money doesn’t mean that they have to just let anyone and everyone have it. Spending money needlessly is only going to make problems worse in ways that aren’t always noticeable.
So, what’s a student to really start with when they’re trying to clean up their finances? Believe it or not, it’s actually their banking options. Compare banking for students is a topic that can really take some time, and many students might wonder why we would even suggest going with this before anything else.
There’s a reason for that too — you have to make sure that you’re thinking about all financial relationships. A bank can offer a student a lot of different things, including checking, saving, and even loans later down the road.
A student checking account is really only the beginning. That’s the “carrot” that the bank will use to get you in the door, but that doesn’t mean that you aren’t going to be cherished when you arrive. A lot of people assume that the banks don’t care about regular people, but we don’t think that’s always the case. It’s quite possible to develop a good working relationship with a good bank which can lead to better financial products. Instead of having to go to a third party for your mortgage, you can actually get the funding that you need right form the bank. Banks want to make their customers happy so that they will stick around. Trust us, they will make their money from you eventually. But that doesn’t mean that you won’t benefit in the process. You can build your credit with a secured credit card, which means that you won’t have to worry about trouble getting credit later down the road.
Today is a great day to compare banking for students — why not go ahead and check it out for yourself?