SaveItUpMoment – 5 Questions for Your College Student


Hi, this is Andy Mattingly with this week’s
SaveItUp Moment and this week I want to talk about
things that you should ask your college student when they come home for fall or
Thanksgiving break to help to make sure that they’re following some sound
financial advice that either you’ve given them or you need to give them. The
first one is to find out if they’re using coupons. A great way is to ask
them where they visit and do they know that these places offer
coupons. You can do a little research to know the places where
they can use coupons for food or clothing or different things like that. Another thing is to make sure that they’re taking advantage of their
student discount. Once again you can do some quick research find out if they’re
visiting those establishments and making sure that they know how to ask for their
student discount and that they’re doing it. Explain to them how much
they can save. Another thing to do is to make sure that they’re paying their
credit card bill off on time. This is a great way to remind them that it’s
really important that they don’t build debt and to make sure that they don’t
use their credit card to buy things that they really can’t afford and that they
don’t want to start paying more for things because of the interest that
they’re building. Next, try to determine if they’re being smart with a credit
card. Make sure they know how to use their app, that they have alerts setup, and
that they are making sure that they have the money in their account before they
use it. They may even be confused because they may not realize that
they’ve set up their Venmo or some other option like Uber to hit their debit card
so they need to make sure they understand before they use those
services they need to make sure they have the money in their checking
account. They can use the app to do that. Finally, see if they shared any
passwords even social media passwords. Sharing can lead to problems so they
need to make sure that they haven’t shared any passwords so that they don’t
lose any of their identity to someone, even if they think it’s harmless. Now you
want to make sure you do all of this asking in a non-accusatory manner and
make sure you make it a learning opportunity and that you’re learning
what their habits are so you can help them correct those habits and build
lifelong essential money habits that they’re gonna use their entire life, even
once they get out of college. That’s been this week’s SaveItUp Moment. If you want any more information on this topic or any other topic make sure you
visit the SaveItUp page at forumcu.com.

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