Financial Lessons For College Students - KTUL.com - Tulsa, Oklahoma - News, Weather & Sports

Financial Lessons For College Students

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"