Student Savings

Guest Post

When I first opened my savings account, it was right before I was about to start college. There was a booth at orientation for the bank down the road from my school. They were offering incentives to open an account with them, so we stopped to hear about the deals. I ended up opening a student savings account, which has perks that a regular savings account doesn’t. There was no minimum balance, which means no matter how little money I kept in the account I was never charged a fee. This is obviously a huge bonus for college students who are notoriously broke. Now that I have graduated, those special student perks have fallen by the wayside and its time for me to find myself a new savings account. My mom told me I should really compare savings accounts before I choose a new one because there might be some other incentives being offered right now. Also depending on how much money I think I can keep in the account I might be able to find one with higher interest rates. I was doing some research and calling some of the local banks to try to get some information, before I stumbled upon a site that actually does the comparing for you. DUH! Boy, did I feel silly! I could have saved an awful lot of time if I had only found this site first! Because I don’t have all that much money just yet, it looks like my best option is probably just a regular old “passbook” style savings account, with low minimum balance and low interest rates. I won’t make much money on it, but at least I won’t loose money for not having enough in the account either. If it turns out I am able to save up a significant amount more I will look into some more options. Anyway the real decision maker was that I found a bank which offered to put a $100 in any new account opened during the month of April. Free money? Yes, please!! Now that I have made my final decision, I just have to actually gather all of my funds and get out to open the account before the month ends!


About Commander in Chief At home

Erin is a military spouse and, sometimes temporarily single mom to 4 boys. She's a parenting coach, writer, teacher, special needs (Autism) mom, and much more.
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