Student

Think About Your Future Now

You may still rely on financial help from your parents or other family members, but it’s not too early to start cultivating sound money-management habits. Many financially sound adults accomplished their goals through careful financial planning that began when they were students. 

How can you start on the path to sound money management? 

Save for the Future

Learning to save money in your teens and college years is an excellent habit that will train you be a good money manager for the rest of your life.  Set goals for your money and start saving now.  If you have no immediate goals, your goal can be to have a “money cushion” for when that important need for cash occurs. 

First Community National Bank offers checking and saving accounts specifically designed for students: 

Student Savings Account

First Savers CD

Start a Checking Account

A checking account helps you learn how to responsibly handle cash, make smart financial decisions and keep track of your spending records. Whether you use a debit card or paper checks, your checking account can help you manage your budget, including paying your bills on time and balancing your checkbook. With these good habits, you can start building a good credit reputation now.    

Student Life Checking

Plan in Advance for College

It’s never too early for pre-college students and their families to identify and earmark the financial resources they have available to fund a college education—whether from savings, loans, grants, scholarships or work income.   

Here are some sources to help you and your parents plan how you will finance a higher education: 

  • College Savings Plans - First Community National Bank and FCNB Financial offers several options to help you fund the cost of a higher education. It’s OK to start small, but start now with a college savings plan that both you and your parents can contribute to.
    • First Savers CD - Start saving for college with FCNB's First Savings CD. With only $500 you can open your very own Certificate of Deposit and start earning interest. You can also add to the CD at any time.
    • 529 College Savings Plan - 529 college savings plans are tax-advantaged college savings vehicles and one of the most popular ways to save for college today. Much like the way 401(k) plans revolutionized the world of retirement savings afew decades ago, 529 college savings plans have revolutionized the world of college savings. Contact FCNB Financial for more details.
  • Consumer Loans – First Community National Bank offers consumer loans for both students and parents to cover the cost of undergraduate and graduate school education. Click here for more information.
  • Federal Financial Aid for Higher Education (FAFSA)  –  All college applicants and their parents or guardians should become familiar with the most recent FAFSA guidelines and deadlines which can be found at  http://www.fafsa.ed.gov/.  Applications for federal student aid may also be available from your high school counselors, public library or college financial aid office.

TIPS FOR EFFECTIVE FINANCIAL MANAGEMENT

  • Set a savings goal and keep track of your progress.
  • If you have a job, don't spend everything you make.
  • Record ALL your transactions daily for your checking and savings accounts, whether they are made with debit or credit cards or paper checks and deposit slips.
  • Know your account details such as overdraft charges, interest rates, withdrawal restrictions, minimum balances, etc.

For help determining the best accounts and products for sound and productive money management during your Student Lifestage, please contact us or visit your local banker at your FCNB Financial Center.