Cousineau recommends not letting “these apps get in the way of having a detailed budget.” Just because you can easily send a friend $20 with a few taps doesn’t mean you should. The apps might even be able to help. Porto says you can use the timeline of a payment app to help track your spending. Just as with a credit or debit card, you can scroll through your history to determine what changes you might want to make in the future. “You can see where all the money went, which can be very powerful for college students,” he says. In other words, leverage the power of these payment apps to help you manage your money, instead of just spending it.
The article What College Students Need to Know About Payment Apps was written for NerdWallet on April, 2024.
KIMBERLY PALMER is a writer at NerdWallet.
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