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CHICAGO, IL--(Marketwired - Jul 30, 2013) - Getting your first year college student ready for the start of school can be hectic and emotional. There are many details to work through before you drop them off at the dorm or apartment. In your planning, make sure you include working through their freshman year finances.

Here are some tips to help:

• Open a checking account - This is an important financial and organizational step. Most college students hold down a job or two and will need someplace to put their money. ATM's and online banking can be important assets for your student's account, so they can access their account both at home and at school.
   
• Talk about budgeting - Help your student create a budget. Work with them to develop a monthly budget and account for unexpected expenses. This is also a perfect time to talk with them about what you will and won't help them pay for.
   
• Embrace slip ups - Everybody makes mistakes. Learning to manage finances is no exception so expect a few financial missteps. Use these as learning opportunities to help them develop life-long financial skills.
   

Some of the most important lessons learned during college will not be in the classroom, especially in the personal finance front. Money management, saving for what you want, tracking expenses are all parts of what is needed to be successful in life, not just at college.

About BMO Harris Bank
BMO Harris Bank provides a broad range of personal banking products and solutions through over 600 branches and approximately 1,300 ATMs in Illinois, Wisconsin, Indiana, Kansas, Missouri, Minnesota, Nevada, Arizona and Florida. BMO Harris Bank's commercial banking team provides a combination of sector expertise, local knowledge and mid-market focus throughout the U.S. For more information about BMO Harris Bank, go to the company fact sheet. Deposit and loan p roducts and services provided by BMO Harris Bank N.A. and are subject to bank and credit approval. Member FDIC. BMO Harris Bank(SM) is a trade name used by BMO Harris Bank N.A. BMO Harris Bank is part of BMO Financial Group, a North American financial organization with approximately 1,600 branches, and $555 billion in assets (as of April 30, 2013).