![]() ![]() Luckily, thanks to the popularity of smartphones and an ever-growing array of finance apps, we can now have our own mobile money managers in the palms of our hands. But, budgeting is something most of us must do on our own-at least in the early stages of growing our savings or getting ourselves out of debt. It would be great if we could all afford personal financial managers. Our financial health depends more on how we manage our money than how much we make. Our bank accounts affect whether we can pursue higher education, become homeowners, and retire with financial security. Whether we like to admit it or not, money has a powerful influence on our lives. How to Make Your Mortgage Interest Tax Deductible.Should I Use a Personal Loan to Pay Off My Credit Card Debt?.Tax Changes Canadians Need to Know About.A Look Into A Decade of Canadian Spending.Crypto Trading Tips You Need to Know About.Should I Invest During a Market Downturn?.Investment Glossary: The Terms You Need To Know.Should You Keep All Your Money In One Bank?.Is a Hybrid Bank Account Right For You?.Best High-Interest Savings Accounts in Canada.Can You Get a Loan While Receiving ODSP?.Are Premium Cards Worth the Annual Fees?.How to Increase Your Credit Card’s Limit.How to Make the Jump From a Secured to an Unsecured Credit Card.What Credit Card Should You Have at Your Income Level?.What’s the Best Age to Get a Credit Card?.Scotiabank Passport® Visa Infinite* Card.Hotel Credit Cards That Come With a Free Night.Best Prepaid Cards and Secured Credit Cards.Before opening an account, compare interest rates to get the best return but keep financial literacy top of mind. The interest you earn is like free money. Interest: There are many banks and credit unions paying impressive APYs for deposits right now. ![]() Make sure that the account offers convenient online and mobile tools that will make your life easy. Most banks offer a website and mobile app to manage your account. Tech tools: It’s 2023, and your bank or credit union experience should deliver all the typical bells and whistles digitally.And the fees can eat away at any interest you earn. In college, you shouldn’t have to worry about forking over a monthly fee just to park your money. No fees: Don’t pay to stash your cash.With that in mind, make sure the savings account doesn’t have any balance requirements to eliminate this stress. And even if you are making extra cash, it may not be enough to meet some savings account balance requirements. No minimum balance or direct deposit requirement: You may not have steady income right now.If you’re trying to get into the routine of saving while still in school, here’s what to look for when choosing the perfect place to park your savings: What should college students look for in a savings account? Many of the best high-yield savings accounts don’t charge fees or have any opening deposit requirements. However, you don’t have to limit your search to student savings accounts to get these same benefits. With that in mind, they typically don’t charge fees. They’re designed to be an entry point for young adults who are not earning much cash. Savings accounts for college students, on the other hand, typically don’t have as many requirements. But in some cases, they come with extra hurdles you’ll need to clear, such as hitting a minimum balance threshold. High-yield savings accounts are designed to deliver higher returns on your money than traditional savings accounts. The difference between a high-yield savings account and a savings account for college students And you’ll have online and branch access to your money. However, the PNC Virtual Wallet Student account may be a good fit if you want to keep both of your accounts under the same roof. We like that this account is free and comes with the ability to set savings goals and low-cash mode notifications. After six years, the monthly maintenance fee goes up to $7, but can be waived if you meet certain requirements. This account is free for the first six years after you open an account, but does require a $25 minimum deposit. The bank regularly offers a $100 sign-up bonus for new student customers in certain locations who make 10 debit card transactions within the first 60 days. The account has a range of helpful tools for saving, spending and tracking where your dollars are going. PNC’s Virtual Wallet Student account is a combination of checking and savings accounts with an additional reserve account for short-term planning. Banking access available online and at a nearby branch.No monthly fees or minimum balance requirements for six years from account opening date. ![]()
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