Personal Finance 101: Four Tips for Students to Keep From Going Broke Before Midterms

Brookfield, Wis., September 30, 2013 – As you settle into the routine of a new school year, the realities of maintaining a college lifestyle on a budget set in. It’s worth spending a few minutes to get your school year off on the right financial foot. Personal finance expert Vera Gibbons has teamed up with social payment service Popmoney® to provide some simple advice.

“With all the distractions that come with student life, it’s easy to let personal finances get off track quickly,” said personal finance expert Vera Gibbons. “While making smart money management decisions is not always simple, there are some easy and effective ways to better manage your money now and put yourself in the best financial situation possible post-college.”

Keeping track of daily expenses
The costs of things such as weekly groceries or eating out with friends, and essentials such as laundry supplies, can add up quickly. Having clear sight, week to week, of how much you’re spending will help with budgeting so you aren’t limited to a strict diet of ramen noodles by the end of the month. To help with this, download your bank’s mobile banking application so you can quickly review daily transactions and check your balance before making purchases to avoid surprise over-draft fees.

Splitting expenses
Save money AND friendships. Using a digital social payment service allows students to send money to, or request and receive money from, anyone they know or owe using just an email address or mobile phone number. This makes it easier to stay on top of the constant in-and-out cash flow that comes with college life. Services like Popmoney, available through banks and credit unions, or at, are a practical way to pay rent, split bills among roommates or request money from parents.

Finding the RIGHT card
If you are signing up for a credit card—which can be a useful tool to help build credit history— do your homework and choose the right card. For example, there are cards that enable you to earn points by spending on typical college “stuff,” such as food, books, movies and music. Most credit card providers offer some sort of reward program, while sites like offer tools to identify the best credit card fit. However, credit cards should be used wisely and you should make sure you are not spending more than you can repay in a timely manner. Interest payments can skyrocket quickly if there is a large balance on the card.

Not forgetting the student ID!
A school ID is one of the most valuable ways to save! It can give discounts on everything from electronics to public transportation and more. Many local retailers offer students discounts, and there are even national discounts offered online, on sites like

Popmoney is offered at more than 1,900 participating banks and credit unions, such as Citibank and PNC Bank, or anyone can sign-up at Once enrolled, all a user needs is the recipient’s email address or mobile phone number to send money directly to them, without exchanging bank account information and without the hassle of cash and checks.

Terms and conditions apply. For more information, or to sign-up, visit To follow Popmoney on Facebook or Twitter, visit or

Media Relations:
Ann Cave

Rory Swikle