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.
- Michigan mom says she’s been waiting six months for taste, smell to return after COVID. She’s not alone
- Illinois health officials report 5,343 new cases of COVID-19, 130 deaths on Saturday
- Governors’ anger grows as federal vaccine stockpile vanishes
- 101-year-old Hawaii man celebrates birthday at his favorite gym
- Biden introduces key members of science team, including pioneering geneticist Eric Lander