checking page tracking pixel

Access to all Digital Banking Channels will be unavailable beginning at 1 AM for approximately four hours on Friday, December 9 for regularly scheduled routine maintenance.

We apologize for any inconvenience this may cause you.

See All | Contract
Financial Education

Financial Tip

Link placeholder

Money Management Tips for Students Going Off to College

Group of students outside

As you prepare to embark on a new adventure to further your education and work towards your future, it’s hard to not feel a little overwhelmed. Before you embark on your journey, here are a few tips to help you manage your money so you can stay financially strong through college.

Create a Budget

Whether you’ll work while going to college, or will primarily focus on your studies, you still need to create a budget to follow. Maintaining and sticking to a budget is instrumental in keeping your finances in shape. Tools like LOC’s free LifeTrack Personal Financial Management (PFM) solution can help

Determine Needs vs Wants

Sure, you probably would like to purchase new clothes, get a newer phone or laptop, or even go out with friends. In reality, those may not all be possible. You will need to determine just exactly what it is you need, and what you may want. Once those needs and wants have been determined, from there you can budget accordingly for that new phone or that special event you’d like to attend.

Little Expenses Add Up

While a couple dollars a day spent on your favorite coffee drink, a few downloads or trips to the vending machine between classes may seem harmless, over the course of the month, they can add up. Consider your purchases carefully, and be realistic when you include those extra snacks and smartphone app purchases in your budget.

Establish Good Credit Practices

If you’re going to need to use a credit card, be sure to pay off the full balance each month to avoid racking up a large amount of debt or paying extra in interest fees. Getting in the habit of paying off your monthly balance will not only help you stay out of debt, but will also help you and your credit history moving forward.

Take Advantage of Student Discounts

You’d be surprised how many opportunities there are to take advantage of student discounts on and around campus. Those discounts may be minor, but 10% here and 10% there over the course of a few semesters and purchases can add up. Speaking of discounts and saving money, be sure to research options for renting your textbooks to save even more money!

Do Your Homework 

Doing homework for class is a necessity. But doing your homework before the classes even begin is just as vital to your college career. There’s no denying that college is an expensive venture. However, options like scholarships, financial aid, and student loans can all play key roles in helping you through the process. Scholarship opportunities don’t end just because you’ve finished high school. You will also want to be careful, despite how tempting, not to finance a lifestyle using student loan money.

Click Here for Ways LOC Can Help

Surcharge-Free ATMs

Enjoy the convenience of accessing more than 30,000 fee-free ATMs for deposits and withdrawals through the CO-OP Network.  Look for this symbol:

Co-op ATM network

Branch & ATMs

Find a Branch or ATM near you.

Click here

Make An Appointment

Contact Us

Call/Text Us: 800.837.4562

Email Us

LOC Credit Union facebook  LOC Federal Credit Union linkedin  LOC Federal Credit Union YouTube

Best of the Best

Find Us Call/Text Us
Back to Top