College Finances On A Budget

Are you a college student for the first time? Maybe you’re taking classes towards a degree while working? Are you considering going back to school for an advanced degree? Managing money becomes one more responsibility that adds to the burden of work, studies, planning, and scheduling during college life. Our partners at Kasasa® offer some useful tips for college students, whether in person or online, to help keep your dollars and cents a part of your success.

Distinguishing needs from wants sounds like a simple way to manage money, but when streaming movies online while waiting at the laundromat reminds students that clean clothes may take priority over entertainment expenses. Try measuring the cost of a desired purchase in quarters – how much laundry can you get done when you choose to save rather than spend?

Take advantage of library services that may be available either in person or digitally. A library card comes with all kinds of extra services that cost a lot less than a purchase. Likewise, take the time to research services provided on campus or in the community where you live to find additional cost-effective alternatives, including entertainment.

Lastly, in a time of social distancing, those rare moments we can spend with family and friends are worth a lot more than the cost of an outing. Use your social time to connect with folks back home, or a friend at another campus. Whether Zoom, or Facetime, or just a call to Mom and Dad can rejuvenate you and provide a healthy break between classes and studying, and also keep your expenses low.

Most importantly, rest and work hard – those same voice and faces back home are here to support and encourage you. Don’t forget to stop in to your local branch and say, “Hello,” every once in a while. We’re here to help you, too.

 

2020 Dakota West Credit Union Scholarships Awarded

(WATFORD CITY, ND, 15 May 2020) – Breaking from its tradition, Dakota West awarded $500 to every student who submitted an application for its 2020 Dakota West Credit Union Annual Scholarships.  Originally planning to award four scholarships, current high school seniors and enrolled college and trade school students submitted essays focusing on the Dakota West value of Communication.

“The unconventional circumstances for most students right now made the final months of this school year an exercise in self-discipline.  Any students who made the effort to speak to their viewpoint on the importance of Communication in this time of social-distancing deserves to be recognized for his or her dedication,” Juliet Jones, Marketing Coordinator for Dakota West, explained of the change in the number of recipients.

These seven students received news of their receipt of these scholarships on Dakota West’s Facebook page on Friday, May 15.

Dakota West expresses its congratulations and gratitude to the all the student members who belong to the non-profit credit union headquartered in Watford City, North Dakota.  Established in 1941, each of its branches and its members and employees help grow the Dakota West family with exceptional commitment to building relationships and strengthening communities.

Dedicated to exhibiting its values of Responsibility, Positive Attitude, Respectfulness, and Communication throughout west and central North Dakota, Dakota West Credit Union is instilling its young members with skills to maintain personal financial responsibility throughout their education.  Dakota West supports all its members grow with comprehensive, competitive financial products partnered with personal, professional service.  To learn more about its services and communities, visit our Member Service page.

Watch for individual profiles of these outstanding young members on our News & Events page throughout the summer.

Dakota West Credit Union Offers Scholarships

(WATFORD CITY, ND, 19 February 2019) – Expanding its annual tradition, Dakota West Credit Union is accepting scholarship applications from both high school seniors and current college students throughout the communities it serves.   The western Dakota credit union also welcomes applicants who will be attending trade schools in the fall.

Four $500 scholarships will be awarded to members of Dakota West Credit Union through an essay competition focusing on the financial institution’s values: Communication, Respectfulness, Positive Attitude, and Responsibility.

“Our values represent the level of service we strive to provide to our members and our communities.  For the students currently working their way through college or finalizing their post-secondary plans, we want to live our values by contributing to their futures and their success,” Juliet Jones, Marketing Coordinator for Dakota West Credit Union offered when asked about the purpose of the scholarship expansion.

Students must be already attending a two- or four-year college, be enrolled in a trade school program into late 2020, or graduating high school this spring to be eligible.  Students also must be a member at any of the eight branches of Dakota West Credit Union, and submit an essay based on one of the values of the non-profit credit union headquartered in Watford City, North Dakota.

“This year’s essay topic focuses on communication, which will be a large part of both national and global topics this year, as well as in the future,” believes Jones.  “We look forward to reviewing their thoughts on the subject and helping four deserving students grow in their education and careers.”

Established in 1941, each of the Dakota West Credit Union branches and its members and employees help grow the Dakota West family with exceptional commitment to building relationships and strengthening communities.  Offering scholarships to students within its communities continues its focus on this growth through the next generation.

Applications for the scholarship are available on the Dakota West Credit Union website at https://www.dakotawestcu.com/members/member-services/.  The deadline for submission is Friday, April 10, 2020 with winners announced on Friday, May 15 on Dakota West Credit Union’s Facebook page.

Dakota West is also offering Teacher Financial Education Grants to promote personal financial responsibility for all students in the communities it serves.  “Helping them understand the concepts behind money movement is a good place to begin understanding personal financial responsibility.”  The deadline for teachers to apply for these grants is Monday, February 24.  Applications are available in the Media link at www.dakotawestcu.com.

With branches throughout west and central North Dakota, Dakota West Credit Union is dedicated to helping its members grow with comprehensive, competitive financial products partnered with personal, professional service.  To learn more about its services and communities, visit https://www.dakotawestcu.com/members/member-services/.

It’s A Whole Big World Out There

Kim Eriksmoen is preparing for her son to start college and offers her thoughts on how she prepares to send him out into the world.

Classes start on August 27th at Bismarck State College.  Charlie’s very excited, but I’m trying to think of everything I need to tell him before he is living on his own.  He wrote the check for the deposit on his apartment – he’s moving in with another classmate – and I explained to him how to use his register to track his spending.

I know he’ll be responsible.  He’ll start his first year away as a sophomore.  He completed most of his general education classes and even made the Dean’s List at Bottineau State College while also attending high school, so he knows what to expect in his classes.  He’ll have much more hands-on classwork once he begins studying Farm and Ranch Management.

We’ve been walking him through how to use the mobile app to upload checks, transfer funds, and monitor the use of his debit card.  For the debit card, I printed off the Shared Branch ATM locations in the area.  We’re also offering him more high-level financial tips, like how to watch his spending, limiting the transfers from his savings account, and paying his bills first.  Budgeting is a big part of his college experience.  He has scholarships, but he still has to know how to watch his account.

I’m spending our last couple months together trying to offer him practical suggestions, as well as life advice.  My biggest advice to him: think before you do something.  I’m not nervous, though, as we have extended family in the Bismarck area, so he will have plenty of friends around, and eyes to keep watch on him.  I suggest he hang out for a month and get his routine down.

He hopes to get a job once he gets settled.  During high school he worked caring for livestock and he now has half a dozen calves of his own.  He’s going to be studying what he already knows he loves.

I don’t know what to expect when Charles comes home after his first semester or his first year.  Maybe he’ll be a little more responsible in caring for his room and his apartment and appreciate the efforts necessary in having your own space.  I stress upon him the importance of smart decisions.  Think before you do something.  It’s a whole big world out there.

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