Some people go through university without ever having a bank account. However, if you want to actively have control over your finances it might be a good idea to create one. This is the perfect first step if you’re wondering how to get started saving. And these beginner banking tips will help make sure that you’re on your way to your financial goals.
Ask About Student Accounts
A lot of banks provide different account types for students while they’re in school. When you’re creating your bank account, it’s important to ask about the packages that are exclusive to students. The gist of most of those accounts is lower transaction charges and sometimes even a lower minimum balance.
Don’t Connect Your Mobile Money To Your Bank Account
You’ve got to listen, the convenience is addictive. It becomes so easy to withdraw from your bank account that you might end up spending more than you had planned to. Once you’ve created your bank account get a VISA card that’s still going to allow you to withdraw. The advantage is you’ll quickly realize most things aren’t worth the trip to the ATM.
Keep Just One VISA Card
If you have multiple bank accounts, which you might have because of all the work that banks’ sales teams on campus put in, you still shouldn’t have multiple VISA cards. The maintenance for those cards is charged to your account every month, and the costs are going to add up. A bonus tip, if you’re on a budget, don’t take your VISA card everywhere. ‘Swipe to pay’ can end up leaving you broke.
Actually Read Your Bank History And Get A Bank Statement
When you start putting money away, you’re going to have a lot of goals. And if you’re not meeting those goals your bank statements can tell you why. Most banks that have an online portal will allow you to see your transaction history, but if you want a bank statement, you might have to have to make a formal request for one.