Financial Moves to Get Your Child Ready for College
07/09/2026
College move-in season is coming fast, and beyond packing and planning, there are some important money moves families should make. Getting your child started with smart financial tips and tools is just as important as building a class schedule.
Set Up the Basics Before Move-In
What’s the first financial move families should make before their student leaves?
Start with the basics—set up a checking account and make sure your student knows how to use it. That means reviewing how to track transactions, avoid overdrafts, and use debit cards responsibly. They may already be comfortable with the app, so encourage them to use it regularly to monitor their money.
Build a Simple Spending Plan
What’s the best way to help students manage their money month-to-month?
Give them a simple monthly spending plan. Whether it’s from a job, allowance, or financial aid, help them map out what they have and where it needs to go—food, gas, fun. A basic budget creates structure and confidence. You might also use a zero-based budget and transfer funds weekly or monthly based on their planned spending needs.
Use Credit the Right Way
Should families consider a credit card for their student(s)?
Yes—if it’s done intentionally. A starter credit card with a low limit can help build credit. The key is using it for small purchases and paying it off in full every month to build strong habits. It is also a great way to help your child build their credit score responsibly.
Create Financial Guardrails
What’s the best advice to help parents and kids manage the financial aspects of college?
Set up guardrails and have a communication plan. Decide who’s paying for what, how emergencies will be handled, and how often you’ll check in about money. Clear expectations can reduce stress later and help your child build confidence with real-life money skills.
Don’t wait until move-in week—start the financial planning conversation now so your student has the accounts, budget, and expectations in place before campus life begins. Visit your local FORUM Credit Union branch, give us a call at 317.558.6299, or use Live Chat with us to get started.