1. Create a budget
This is very important. List any monthly income and write down estimated expenses for the month.
2. Separate wants from needs
Think of how much laundry costs or how much you need to spend on gas. Eating out on a daily basis isn't necessarily a need.
3. Set up a checking account
Banks love catering to college students by offering them free checking and savings accounts. This allows students to avoid fees on withdrawals or fund transfers.
4. Use, don't abuse, credit cards
College is a great time to start building credit, which is crucial for purchasing a car or leasing an apartment. It's important to understand the difference between credit building and overextending.
5. Do your homework on loans and financial aid
Make sure to understand what the exact size of your student loan debt will be upon graduation. Come up with a plan on how to pay it back, even if it involves making sacrifices on other aspects of your life.
6. Shop smart for textbooks
Textbooks are one of the biggest college expenses, so learn how to spend as little as possible on them. Try purchasing used books or books that can be downloaded online.
No comments:
Post a Comment