Mark Lennihan, AP
In this April 26, 2006 file photo, credit card signs are posted outside a New York parking garage. A law hailed as the most sweeping piece of consumer legislation in decades has helped make it more difficult for millions of Americans to get credit, and made that credit more expensive.

People in their 20s can struggle with student loan debt, a tough job market, expensive housing and a variety of other costs. Young people need to make sure they have a good banking package, according to the Globe and Mail.

Learning how to properly handle one's banking is an important part of making the right financial news, according to Rob Carrick, financial columnist for the Globe and Mail. When dealing with bank accounts, many people overpay for their day-to-day banking because of products they don't need and overdraft fees.

"The more aggressively the bank sells something, the more skeptical you should be about buying it," Carrick told the Globe and Mail.

Many students should look for no-fee online chequing accounts when looking for a permanent place to bank, Carrick told The Globe and Mail. Students should also look for a banking package that gives them the most transactions with the lowest costs. Not all banks are the same, and finding the one with the best deal can save a person a lot of money.

Click to read the entire article at the Globe and Mail.

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