Whether you have a scholarship, financial aid, student loans or are paying for it all on your own, it pays to take advantage of tools and services that will help you to manage your money while you’re in college. St Anne Credit Union in New Bedford has a variety of options for college students who live or work in Bristol and Plymouth counties in Southeastern Massachusetts. From our New Bedford Share Savings to credit union loans, auto loans and financial opportunities, there’s a little something for everyone at every stage of their lives.
Going away to college can be an exciting time in your life. There are so many new things to see, do, learn about and experience. Unfortunately, all of this opportunity and independence can also become very expensive, very fast. It is important to stay on top of your finances, create a work-able budget that you can stick to and properly manage your money, so you won’t really have to live off of ramen noodles and leave college completely broke. Your New Bedford credit savings opportunities can help you take control of your financial situation.
Go Over Your Financial Aid Package
One of the biggest mistakes that college students make is to not read over the terms and conditions regarding student loans and financial aid. Only accept financial aid that you need and learn the difference between grants, scholarships and loans. Some need to be paid back, while others are freely given, as long as specific conditions are met during your education. If you do need to get a loan, try to get an un-subsidized loan that does not accrue interest while you are still in school. Interest can really add up quick, especially while you are focusing on your education and aren’t thinking about finances. Be very selective about any type of financial support that you apply for and accept during college.
Credit Union Loans
Speak with your financial representative at St Anne Credit Union in New Bedford about personal loans and other options that may be able to help you out while you are in school. Families often take out home loans or make investments into certificates of deposit, money market accounts and other financial opportunities to help pay for college. Even your New Bedford Share Savings account can help helpful in putting money away for specific expenses or paying for increases in tuition or living expenses as you progress throughout your college experience. The more time you take to look at your options with credit union loans and take advantage of New Bedford credit savings at your local credit union, the better off you will be.
Create a Budget
One of the most important habits that you can create with regard to your financial responsibility, is to learn how to create a budget and stick with it. College is a great time of learning and developing habits that you can use throughout your entire life. The financial struggle during the college years is something that everyone talks about, so what better time than this to learn how to manage your money and keep your finances under control? Make sure to include all of your expenses in your budget, including day-to-day living costs, dorm fees, books, meals, entertainment, and anything else that applies to your college experience. If you have a car, don’t forget about car payments, gas, insurance, registration, and parking fees at the college.
Beware of Credit Cards
Even the most financial savvy and experienced adults run amok with credit cards from time to time. The lure of buy-now-pay-later is a huge temptation that can get you into a financial jam rather quickly. Your best bet is to get a credit card through your local credit union so you can take advantage of lower interest rates, easy payment options and other New Bedford credit savings. As a member of St Anne Credit Union in New Bedford, there are lots of great financial options, credit opportunities and other tools that you can use after joining through a New Bedford Share Savings account.
Join St Anne Credit Union in New Bedford
If you are preparing for college in the near future, heading off to college this year, or are already in college but need to get some tools to better manage your finances, come visit St Anne Credit Union in New Bedford. We have a variety of savings, checking, credit union loans, credit cards, and other types of financial options that you can use to your advantage. Give us a call at 508-993-0011 or stop by our location on Union Street in New Bedford, Massachusetts to speak with one of our friendly and knowledgeable representatives.