The First Bank Joins National Student Financial Education Campaign

THE FIRST BANK JOINS NATIONAL STUDENT FINANCIAL EDUCATION CAMPAIGN

This month, The First Bank has joined the American Bankers Association Foundation and banks across the country in promoting the Get Smart About Credit program, a national campaign that encourages banks to teach teens and young adults how to manage their money. In recognition of the program’s awareness day celebrated on October 19, the bank will share tips on using credit wisely, saving for the unexpected, and careers in banking through presentations in local schools near its branches and on the bank’s social media channels throughout the month of October.

“Get Smart About Credit gives us an opportunity to equip the young adults in our community with the financial knowledge they need to prepare for the unexpected and to ultimately be successful,” said Hoppy Cole, chief executive officer and president of The First Bank. “We look forward to sharing a range of helpful financial resources and participating in this important national campaign.”

The First Bank offers these seven tips to help students shape their financial future: 

1. You are in charge. It is your job to manage your money. Set yourself up for success by creating a realistic budget and sticking to it.
2. Watch your spending. It all comes back to the simple lesson of needs versus wants. Pace spending and increase saving by cutting unnecessary expenses like eating out or shopping so that your money can last throughout the school year.
3. Use credit wisely. Understand the responsibilities and benefits of credit. How you handle your credit in college could affect you well after graduation. Shop around for a card that best suits your needs. Pay as much as you can, as soon as you can, and always pay by the due date.
4. Utilize your bank services. Banks are more than money in a vault. They offer valuable services that students can benefit from like check cashing, debit cards, mobile and online banking, balance alerts, personal loans, direct deposit, financial education and many offer identity theft protection.
5. Be cautious when it comes to money. Do not trust just anyone with your money. Be skeptical of classmates, friends or salespeople that have ideas for your money.
6. Save, save, save! Things happen, and it is important that you are financially prepared when your car or computer breaks down or any one of life’s unexpected emergencies. No matter how small the amount, you should start putting money away immediately.
7. Ask. This is a learning experience, so if you need help, ask. Your parents or your banker are a good place to start and remember, the sooner the better.