This article was written by Gracia Green, a Student Financial Resources Specialist in Tyndale University’s Financial Aid Department.

Getting good grades and balancing life as a student can be a challenge if you don’t have the right information and support system. The same is true in the world of personal finances. It’s important that you have someone at your school, or in your circle of influence, who can help you navigate the ins and outs.

Do’s

• Get a financial review. This ensures you have a student account that offers you the best benefits, and your bank will keep your free student account active while you are in school.
• Research student credit cards. Look at the benefits of various student credit cards and determine the best bank for you to apply to.
• Always preplan how and where you spend your money. Having a working plan saves you from overspending.
• Research reputable companies and governments for grants. Almost all the major banks have scholarships or grants available for students.
• Look for student deals in-store. Grocery and tech stores all offer some additional discounts for being a student.
• Protect your PIN/debit card from others. Sharing your debit card and PIN number makes you liable for all transactions through your account. So, if someone you don’t know taps your card, and you have shared your PIN — you won’t be able to get your money back.

Don’ts

• Don’t apply for student credit cards on sites offering discounts. Most sites offering multiple cards from various companies — with the promise of a discount — are false. Do your research. Cross-reference those offers with the original company site (for example, a bank). If you don’t see it on the original company’s site, then it’s a scam. Most legitimate companies will advertise any specials on their own sites.
• Don’t give your banking information to non-reputable companies. You may be approached to sign up for a new credit card or to purchase a product, and they ask for your banking information (bank account and transit, institution numbers). Make sure you know that it’s a reputable company before handing over your information.
• No legitimate company will email you a cheque to deposit. When looking for a job, fake companies may email you a cheque, and ask you to deposit it into your account. Don’t do it. Take that cheque to any bank teller and turn it over to the bank. You will save yourself from potential fraud charges.
• No one should contact you asking for access to your online banking information. Don’t give them access or press any links if they do. No banking institution will contact you and ask permission to log into your online banking site remotely. If you are having trouble with your online banking site, call your bank and a customer representative will navigate you without remotely accessing your account.