Whether you’re in high school or preparing to head off to college, it’s never too early to learn how to manage your money. From depositing paychecks from your part-time job into a checking account to building a college fund in a savings account, learn why you should open a bank account as a student with Landmark National Bank.
Practice Financial Responsibility
Taking on financial responsibility is a big milestone for young adults. For now, you may defer to your parents or guardians as far as finances are concerned. However, you’ll eventually take over managing your money all by yourself.
As you take out student loans, achieve a full-time job, start a business, or buy a home, it’s crucial to practice financial responsibility and management. Opening your own bank account, whether it’s a student savings account or a student checking account, is often the first step in reaching that milestone. When you open a banking account, you can:
Create a Secure Place for Your Money
As you transition from receiving an allowance to creating your own income through a part-time or full-time job, keeping your money in a jar or under the bed won’t be an option. With a bank account, you can safely deposit your hard-earned money via direct deposits, or through mobile deposits.
Build a College Fund
If you plan to attend college, a student savings account is an excellent tool for that goal. Even if you plan to receive aid from your parents or through scholarships, setting aside money for food, rent, and other college expenses can take off a layer of stress during your transition to higher education.
Start Saving for Future Milestones
In addition to college, a student savings account can help you prepare for milestones beyond the graduation stage. From becoming a parent someday to settling down for retirement, the sooner you focus on saving for milestones, the better.
Open a Student Savings Account with Landmark National Bank
As you explore the uncharted waters of young adulthood, Landmark National Bank is here to help you with a wide range of financial products and services. We offer checking and savings accounts and tools like personal banking cards, online & mobile banking, and more. Take your first step toward building your financial future—find a Landmark National Bank location near you today!The content