Common Banking Mistakes Students Make (and How to Avoid Them)

Starting college is exciting—but managing money for the first time can be tricky. At Crane Credit Union, we’re here to help you avoid common banking pitfalls that many students face. Here are a few missteps to watch out for—and how to stay ahead of them.

1. Ignoring Your Budget

It’s easy to overspend when you’re juggling books, food, fun, and everything in between. Many students don’t track their expenses and end up running low before the semester ends. 

Fix: Use a budgeting app or spreadsheet to keep tabs on your income and spending. Know your needs vs. wants—and plan accordingly.

2. Relying Too Much on Credit Cards

A credit card can help build your credit history, but maxing it out or only making minimum payments can lead to long-term debt. 

Fix: Use credit sparingly and only for planned purchases. Always try to pay off your balance in full each month.

3. Not Reading the Fine Print

Some accounts have fees for maintenance, out-of-network ATM use, or minimum balance requirements. 

Fix: Choose student-friendly accounts with low or no fees—like the ones we offer at Crane Credit Union.

4. Skipping Financial Education

Many students miss the chance to learn the basics of saving, investing, and borrowing early on. 

Fix: Take advantage of free financial literacy tools, webinars, or one-on-one counseling (we offer those, too!).

Bank Smart with Us

Managing your money doesn’t have to be stressful. CCU is here to help you build strong financial habits now—for a more secure future later. Browse our website to learn more about student accounts and financial resources made just for you.

Let’s make smart banking a habit—together.