Banking and budgeting can be confusing things for first-year students.  We would like to make this part of the transition from High School to UGA as smooth as possible for you.  In order to do so, we have included information on some of the Athens area banks and some information on how to budget your money.

Athens Area Banks

        College Checking Program

• The Wachovia College Checking program is available to any student who has been        accepted or is enrolled and is working toward a degree in a four-year college or university, a two year junior college, community college or technical school, or a Graduate degree program.

• Components of the College Checking Program include:

•  Other Services

• Availability

    NationsBank

    College Checking

• NationsBank Student Checking is available to any student who has been accepted or is enrolled and is working toward a degree in a four-year college or university, a two year junior college, community college or technical school, or a Graduate degree program.

• Components

• Other Services

•  Availability

•  No Specific College Checking Account

• Other Services

•  Availability

First American Bank and Trust Company

•  No Specific College Checking Account

• Other Services

• Availability

 Athens First Bank and Trust Company

     College Checking

• Signature Student Checking is available to all students under age 24 with a valid college ID.

• Components

• Other Services

• Availability

Taken from personal communication (at each bank).

Budgeting

Making a budget and sticking to it is the foundation of good financial planning. Acquired early as a habit, it can help you make ends meet from now to the end of the term, and it will also pay dividends for the rest of your life. It sounds easy, but it is remarkable how difficult budgeting can be. But the discipline is well worth it, and once you get in the habit, the financial advantages are obvious.

The best time to start a budget is in the fall when you have saved your summer earnings and received your student loan.  The general rule is that no more than 35% of your gross monthly income should go toward payment of your rent and any loan payments you may have to make. Here are some key points to make your budget work for you:
 

• Identify all your sources of income and when you expect to receive the funds.
• Determine your fixed costs, such as rent and utilities, and when they are due.
• Estimate variable expenses, such as food, laundry, clothing, and entertainment.
• Record all your checks and expenditures to avoid an NSF check and the service charges that go with it.
• Do not overlook one-time expenses such as trips home, books, and course materials. Take advantage of student premiums and discounts whenever possible.
• Keep your budget current. Review it monthly and revise it as your circumstances change.

    Monthly expenses may include:
        Rent
        Transportation
        Car Insurance/Repair
        Gasoline
        Parking
        Utilities (water/heat)
        Phone (including long distance)
        Groceries
        Laundry/Dry Cleaning
        Entertainment
        Drug Store Items
        Loan and Credit Card Payment
        Clothing
        Christmas/Birthday gifts, etc.
        Trips Home