Back to School Banking

Going off to college presents a great opportunity to evaluate your banking options and determine what’s best for your new circumstance. First Farmers & Merchants wants to make sure that you have a successful banking future as well as a successful college career. Here are a few things to think about.

Find The Right Account For You



Keep Your Personal Finances Mobile

Using your phone makes saving and budgeting very easy. Have you downloaded our First Farmers & Merchants Mobile App ?


Don’t Take Out More Student Loans Than You Need

You should educate yourself about all the possible loans and scholarships out there, and be proactive in taking control of your financial life before you even get to school. Subsidized federal student loans with relatively low interest rates are one thing, but high-interest private loans are a very different story. There’s free money out there in the form of grants and scholarships, too, and it can be yours for the taking. You have to do a little leg-work, but start with your Financial Aid office.

Learn To Start Saving A Little Each Month

The best money tip is to start now saving small and incrementally increase. The easiest way to start, as a cash strapped college student, is to save all your coins and deposit every week into a savings account with no ATM card (to avoid temptation to withdraw for frivolous things) . This seemingly insignificant amount adds up over time and starts the habit of saving. Try to increase this amount by adding $5 each week and upping by at least $5 each month (or quarterly if money is seriously tight). This is a no-brainer way to save that is easy, manageable, and sets a great habit into place for a life of savings well into the future. 

Be Smart About Recurring Expenses, Like Books

The campus bookstore is the most expensive place to purchase books. Instead, be resourceful by borrowing books, finding students that you can buy them from, or other online textbook sources. This will leave you with a lot more money in your pocket now and later.

First Farmers & Merchants Bank wishes you the best as you begin this new chapter in your life. We believe in you.

*Subject to credit approval. Finance charges may apply.