In high school, I had a foolproof plan for economic survival: spend $20 cash each week and save the rest. I didn’t drive, so my only expenses were movies and food with friends. My mom deposited my babysitting and tip money — and I never EVER touched my bank account.

At home my banking system worked. It wasn’t until I was 2,000 miles away that I realized the catastrophic effects of my lack of withdrawals. I didn’t know how to withdraw money. Or how to write a check. Or how to put money into my own account. So when I started my work-study job, I was in trouble. With a capital T.

Even worse, the nearest branch of my bank was 200 miles away in the middle of New Jersey. I had a debit card, but I wasn’t allowed to use an ATM because of fines. I couldn’t cash checks because I lacked a state-issued ID (the result of another series of poor choices). So the money in my savings account had to last me the entire semester.

I had to wait to deposit my checks until I went home for break. Not only did I look silly in front of the bank teller, but I wasn’t able to use my work-study money all semester. And let me tell you, I was spending a lot more than $20 a week.

Activity: Make sure you have an account with a bank near your college. And know how to use it!

Want some more advice for the future? Read about all the Things I Wish I Knew Before College.

Posted In: College Prep, College Ready, Paying for College