Best Bank Accounts and Apps for College Students

By Tom Nonmacher

Hello eTHRIFTers! Today, we're diving into the world of finance for college students. As a student, juggling your academic commitments along with your financial responsibilities can often seem like a daunting task. But don't worry, the good news is that there are bank accounts and apps specifically designed for students like you. These accounts and apps not only help you manage your money efficiently, but also have other perks that can help you save a significant amount of money in the long run. Let’s take a look at some of the best options available.

First up, let's talk about bank accounts. The Discover Student Checking account is a great option which comes with zero monthly fees and also offers 1% cash back on up to $3,000 in debit card purchases every month. This is a great way to earn some money back on your everyday expenses. Another solid option is the Chase College Checking account, which also has zero monthly fees for students and offers various cash bonuses for new sign-ups. Both of these accounts also offer robust online and mobile banking services, allowing you easy access to your money wherever you are.

Next, let's talk about finance apps. Mint is a fantastic budgeting app that helps you track your spending across various categories, and even gives you personalized tips on where you could be saving more. It's a great tool for getting a handle on your finances and understanding where your money is going. Another great app is Splitwise, which is perfect for those shared expenses with roommates or friends. It keeps a running total of who owes who, ensuring no one is left out of pocket.

Now, let's not forget about savings. The Digit app is perfect for those who struggle to save. It analyses your spending habits and automatically transfers small amounts from your checking account to your savings account, helping you to save without even thinking about it. Similarly, Acorns is an app that rounds up your purchases to the nearest dollar and invests the change, helping your money to grow over time. Both these apps are great for students who want to start saving but don't know where to start.

Finally, it's worth mentioning apps that can help you with your student loans. An app like Mint can also be a great tool for managing your student loans, as it allows you to see all your loans in one place and keep track of your repayment progress. Another good option is the Student Loan Hero app, which provides personalized repayment plans and loan calculators to help manage your student debt.

In conclusion, managing your finances as a student doesn't have to be a daunting task. With the right bank account and a few helpful apps, you can not only keep track of your money but also save and grow it over time. As always, remember that the key to good financial health is being proactive and staying informed. So, start exploring these options and make the most of your college years without the constant worry of money!

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