Starting your financial journey in college doesn’t have to wait until you earn your degree. In fact, building wealth in college is about developing habits now that can help ensure real financial freedom later. At Cornerstone Bank, we’re dedicated to guiding students through every step—from budgeting to savings to smart investing. Here are six practical, approachable tips to help you build wealth while you’re still in the classroom.
1. Plan Your Spending Around Goals, Not Guilt
Think of a spending plan as a path toward your goals—whether that’s saving for spring break, a new laptop, or future rent—rather than a constraint. Use Cornerstone's budgeting and savings tools like our Budgeting Calculator or Savings Calculator to set realistic targets and track progress.
2. Build an Emergency Fund (Even a Small One Counts)
Saving just $20 or $50 a month builds both a safety cushion and a powerful habit.
Cornerstone’s Statement Savings account opens with just $10 and includes online banking, mobile deposits, alerts, and an ATM card. Paired with a RITE Student Checking account, it’s the perfect foundation for a solid financial journey.
3. Automate Your Savings with Ease
Cornerstone’s Making Cents* program helps you save effortlessly. Each time you make a purchase with your debit card, the transaction is rounded up to the nearest dollar. The difference is automatically transferred into your savings account. It’s a simple way to build savings without even thinking about it—small amounts that quickly add up over time.
4. Look Beyond Basic Accounts
A standard savings account is a must, but now is the time to look into additional ways to grow your savings. For example:
- Consider opening a Personal Money Market account, which earns higher interest rates for higher balances.
- Learn about Certificates of Deposit (CDs). Offering higher rates when you commit funds for a set period, CDs are ideal for medium-term goals like studying abroad or graduation trips.
5. Tap Into Our Learning Tools and Community Support
Cornerstone’s Financial Literacy hub provides resources for students, including group programs and practical articles on budgeting, credit, and investing. Deposits are protected with both FDIC and Massachusetts DIF insurance, offering peace of mind as you grow your savings.
Moving Forward with Confidence
Starting to build wealth in your college years may feel small at the moment, but those first dollars saved, invested, and wisely managed can set you on the path to lasting financial strength. At Cornerstone Bank, we’re proud to be your partner—providing straightforward tools, supportive resources, and on-brand banking products designed with students in mind. Ready to get started? Reach out today.
*To enroll in Making Cents you must be enrolled in online banking, have an eligible Cornerstone Bank checking account, and an eligible Cornerstone Bank savings account. Eligible checking accounts: RITE Premium, RITE Extra, RITE Student, Basic, and Workplace checking. Eligible savings accounts: Statement Savings and Moola Savings. Upon enrollment, we will round up your purchases to the nearest dollar and transfer the difference from your checking account to your savings account. Purchases will not be rounded up if it makes your account reach zero or go into the negative. If a debit card purchase is subsequently reversed, the corresponding round-up transfer will remain in the designated savings account.
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