Getting Kids Money Wise

MOBILE, Ala. (WALA) - There are some things kids will naturally figure out on their own when they get to college—getting the most out of their dining plan, finding the best study spot on campus, managing caffeine intake. But with other things, like managing finances or setting a budget, students may be better served by having a little head start.

Often, recent grads are introduced to new and exciting experiences – from navigating a new campus or city, to managing the stresses of college life, meeting new friends or starting a new job. Some of these stressors can be mitigated by planning ahead – and that includes when it comes to how they are earning, spending and saving their money when on their own for the first time.

Digital banking tools and apps, like Chase Autosave and Credit Journey, and checking accounts designed for high school and college students can help establish healthy financial habits, setting them up for success when they leave home.

Thirteen-time Emmy and four-time Edward R. Murrow Award-winning journalist, Elisabeth Leamy is a consumer advocate with a wealth of knowledge to share on how to instill healthy money habits with your kids. Elisabeth joined us on Studio10 to discuss the following:

•Top 5 money lessons for students starting college or starting new jobs

•Practice Makes Perfect: How getting started now can ease stress later

•How an app can help your budget

•What to look for in a student banking account

Elisabeth Leamy

Elisabeth Leamy is best known for her work as a consumer reporter for Good Morning America and the Washington Post. Her devotion to consumers continues to shine through as an author, speaker and spokesperson. While Elisabeth is known as a passionate consumer advocate, the business community considers her tough but fair. As she has told college students many times over the years, “Journalists should not be out to get anyone. They should be out to get the truth.” Elisabeth began her career as a general assignment reporter and anchor, but then, in 1995, her news director at WFLA in Tampa, Florida asked her to join the station’s award-winning “8 On Your Side” consumer team. Elisabeth immediately noticed that people may want to know about general assignment stories like fires and crimes, but they NEED to know about consumer stories on money and safety. She was hooked —and has never looked back.