ROCKFORD, Ill. (WTVO) — A local financial expert shared some tips for students going away for college. One tip is for students to have a debit card for easy access to money in an emergency.
Also, they should have a savings and checking account set up. Online banking is a great tool to keep track of spending and how much money is in each account.
Gina Caruana, the senior Vice President of Consumer Banking at Illinois Bank & Trust says establishing credit at an early age is important.
“If you are 18 and able to get a small credit card with a small credit limit, we do recommend that..What we don’t recommend is to get several different credit cards or several lines of credit,” she explained.
Caruana said that parents should get their kids’ bank accounts set up if they haven’t already as the application process for cards could take some time.
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