Compare Colleges Find Scholarships Financial Literacy College Pulse

Archive | Financial Literacy

Personal Finances 101 for College Bound Students

Personal Finances 101 for College Bound Students

As you prepare yourself for college, you’re probably realizing that there is more to college than developing great study habits. For many of you, this is the first time that you will live away from home and have to manage your own money. If you’ve never had to do that before, you might not have the first clue where to start. Luckily, there are tons of resources out there that can teach you the basics and give you strategies that will turn you into a smarter money manager than most adults these days. To help you start off on the right track, here are a few ways of getting personal finance information before you set off for college:

#1 Online

Finding personal finance information online is one of the best ways to get the most up to date information. You can hear about new ideas and opportunities the moment they come out. So you’ll always know you’ve got the latest news available.

The internet also offers easier access to a wider variety of information. You can find everything from how to mitigate your debt to advice on where to live while in college. You can also find people in your exact financial situation blogging about the ways they are managing it. You can follow these people and even get in touch with them. This allows you to get more personalized and relevant advice than you might find in other sources.

However, the internet does have its downsides. The most significant one is the presence of bad information. You will have to sift through some questionable sources and filter out the misleading or manipulative sites before you actually find the sites worth reading and following.

Before you act on any advice or ideas you find on a blog or social media account, make sure that you look into its background. Find out who is writing and learn as much as you can about who they are and what they do. If it’s not easy to find this kind of information about their background, that itself is a warning sign. A legitimate blogger wants to be found and wants to provide information about who they are and where their expertise lies.

Once you find a quality source, stick with it. Sign up for email updates. Follow any social media accounts they may have. And add a note to your calendar reminding you to check in on the site at least once a month. Try to find at least two or three different blogs or websites that you check in on regularly.

This is a good habit to get into so that you can remember to actively manage your personal finances rather than ignoring them until they get out of hand.

#2 In Print

Magazines and newspapers are also great resources for quality personal information before you set off for college. On average, they tend to be more thoroughly researched than online sources. That doesn’t mean online sources have no value. It just means print sources tend to dig a little deeper or narrow their focus to really understand a specific issue.

Newspapers and magazines can also add some important context to your personal finances. The wider economy and market conditions are going to affect your personal finances as well. If you’re relying on financial aid, for example, it’s important to stay up to date about any policy changes the government makes that might affect how much aid you get.

If you ever plan on investing as part of your retirement plan, it is a good idea to start getting familiar with the financial markets as soon as possible. You don’t have to become an expert in economic theory or spend all your time closely analyzing the state of the market. Just make an effort to be aware of the key events and shifts that are happening.

To do that, subscribe to two or three newspapers that have solid reputations and articles that are relevant to you. Add these to your monthly reading list.

#3 Books

The best finance books are great resources to use when you’re ready to go really in depth on a particular topic. For example, as a college student, finding as much funding as you can outside of loans is going to be a top priority. A great book can give you thorough details and great exercises to help you gain the skills and insights necessary to qualify for as much financial aid as possible as well as win as many scholarships as you can.

Books can also help you develop the basic money management skills that you will need throughout your life. If this is your first time living on your own, you’ll need to learn how to make a budget, how to stick to that budget, and how to build credit without letting your debt spiral out of control.

With books, the key thing to watch out for is the date of publishing. College gets more expensive every year and the economy is always changing. The resources and tools available are also often changing. So reading a book written in 1970 might have a few good ideas but there will also be a lot of dated information that no longer applies.

Try to stick with personal finance books that have been written within the last 10 years. The only exceptions are those timeless books that describe methods and ideas that are relevant and practical no matter what the current conditions are.

You don’t have to read books as often as blogs, newspapers and magazines. However, you should try to fit one or two personal finance books into your schedule per year. This habit will deepen your knowledge and really help you think about how to apply all the ideas you have been reading about throughout the year.

Personal finance information is one of the most invaluable resources you can bring into your life. The more knowledge and skills you have with managing your money, the better off you will be throughout your entire life. So find the resources most relevant to you and make time in your schedule each month to educate yourself about your personal finances!

About the Author:

Today’s guest article comes from Kostas Chiotis. He is an economist, online marketer, and entrepreneur that likes to spend his spare time managing his blog at Finance Blog Zone

Posted in Financial Literacy0 Comments

3 Practical Transportation Options for Today’s College Student

3 Practical Transportation Options for Today’s College Student

For many young people, heading off to college comes with a lot of excitement, but also some burning questions to consider. In fact, many college-bound teens may ponder the following:

  • Where will I live?
  • Will it be difficult to make new friends?
  • Will I like my classes?
  • What the heck is a quad, anyway?

However, one of the more practical questions should include which mode of transportation you plan to use during your freshman year and beyond. Indeed, what was convenient and worked from the comfort of home may not be a practical or affordable on-campus option. Here are three standard modes of transportation that can help you decide the best option(s).

1. Car

A car is the most convenient and useful mode of transportation, but it may not always be the most practical on-campus option. This is especially true when you’re trying to find a reliable place to park and spending hundreds of dollars on a parking pass. Still, you should inquire about specific on-campus parking policies and perks. Some schools don’t allow freshman to have cars, but offer that opportunity for upperclassmen.

Next, consider your school’s location. While some colleges and universities may be better suited for cars, owning and driving one at urban campuses like NYU or USC may become more of a burden rather than a nice perk. Additionally, think about how your campus is situated and where you’ll be living. Is the distance far enough that you’ll need a vehicle to get from home to campus or to travel between classes? Is there ample parking available? Will you get bombarded with too many ride requests?

If you think having a vehicle is the right option for you, make a budget that includes all of the costs associated with owning and operating one on campus. In particular, make sure to budget for the following:

  • Monthly car payments
  • Insurance
  • Gas money
  • Repair costs
  • Replacement parts (like a new set of tires)
  • Routine maintenance (oil changes, fluid replacement, etc.)

2. Bicycle

For urban campuses, a bicycle might be the most practical mode of transportation. In fact, many colleges offer free or discounted bicycle-sharing programs. Knowing that, riding a bike might be the quickest, most efficient way to get around, particularly on closed campuses that don’t allow cars.

But you’ll still want to consider the distance between your dorm or apartment and where your classes will be held. Indeed, riding a bike on campus might be advantageous if your place of residence, nearby amenities (restaurants, grocery stores and other retailers) and the actual college campus are all located within a few miles.

Just be sure there are safe routes for bicyclists to ride near your campus. If your school is located somewhere that experiences snow, ice and overall cold temperatures during the winter, you’ll also want to consider whether there is affordable backup transportation on days when riding your bike just won’t cut it.

If a bicycle sounds like a great option, consider the following costs when putting together a budget:

  • Bicycle
  • Repairs and maintenance
  • A dependable lock and helmet

3. Public Transportation

If you’re attending college in a big city, public transit might be your best option to get around. But before you decide to commit to using only city buses, subways or light rail, make sure to map out your routes. For example, Google Maps is a great resource to determine if there are nearby routes to get you from your dorm or apartment to class in a reasonable amount of time.

Of course, if you decide to use public transit, make sure to check out the different pricing tiers to determine the most cost-effective options. Additionally, think about how often you’ll be using a particular service and whether investing in a pass makes good financial sense. But you might also want to ask around, as some colleges and universities offer free or discounted public transit passes.

Posted in Financial Literacy0 Comments

How to Cut Expenses When Living Off Campus

How to Cut Expenses When Living Off Campus

If you’re finally moving out of the dorms into your own off-campus apartment, congratulations! That’s a big life move – at times it can be challenging and perhaps even overwhelming, but it’s never anything less than completely rewarding. However, living on your own means you will be faced with many responsibilities that you haven’t yet had to deal with, most of them financial. To avoid going bankrupt and having to return home after just one semester off campus, follow these tips for cutting your expenses. You’ll thank us for the advice!

Eat at Home

Ditch the college meal plan and just say “no” to eating out. Instead, put your new kitchen to use, and cook at home. Simply by buying groceries, you can save hundreds of dollars per year on food expenses. Additionally, you’ll have more say on what types of food you eat, and may find that your diet is healthier and more sustainable (assuming you don’t simply load up on sodium-rich instant noodles, of course). Plus, as a young college student, cooking and eating at home is a perfect opportunity for socializing – whether you cook with friends, a significant other, or simply a study group, you can enliven your meals with good company.

Take Public Transportation or Bike

If you can avoid it, resist the urge to buy a car until you absolutely need one. Remember, a car payment is only the beginning when it comes to paying for a car; you also have to insure the vehicle and pay for ongoing vehicle maintenance, which can add up to thousands of dollars over the course of a year. Instead, take public transportation or ride a bike around campus. True, some towns and colleges lend themselves to this more than others, but if you find that you mostly stick to one area, you likely don’t need a car of your own. Not yet, anyway.

Split the Utilities (and Rent) with a Roommate

Don’t take on the financial burden of living off campus alone. Instead, move in with a roommate or two. Not only will you be able to split the rent, but you can split utilities as well (assuming your landlord doesn’t cover these costs for you; be sure to inquire before signing the contract so you know what your costs will be). Simply make sure that your name isn’t on all of the contracts, because this makes you legally responsible in the event your roommate misses a payment or runs out on you. If you want to ensure that everyone is paying their fair share, use a rent splitting calculator to estimate each person’s obligation.

Do Your Shopping on Craigslist

Shopping for furniture? Find it on Craigslist. Looking for a commuter bicycle? Find it on Craigslist. Looking for some basic appliances? Find it on Craigslist. For all things discount shopping, Craigslist is your friend! Sure, there are some things that you’ll want to buy new – a mattress, for example – but for many of the things that you’ll need once you move into your new place, you will find that Craigslist has them! And at greatly discounted prices, too.

Cut Out Cable (and Other Needless Subscriptions)

If you’re in college currently, there’s a good chance that you’ve already cut the cord on cable television. But have you considered the idea that with subscriptions to Netflix, Hulu, Amazon Prime, FilmStruck, and HBO Go (not to mention Google Play Music, Apple Music, and Spotify), you aren’t actually saving any money? Yes, each of these services unto themselves are incredibly affordable – often less than $10 per month, in fact – but they only represent a bargain if you stick to just one or two. If you sign up for every service that comes across your desk, you could quickly find yourself spending $100 or more per month on services that you don’t need. Cut back!

Get a Prepaid Phone Plan

With prepaid phone plans, you can get all of the data, talk, and text that you need at a fixed rate. This will help you avoid unnecessary surprises on your phone bill at the end of each month. Plus, you may find that going with a prepaid phone plan is simply the cheaper, more convenient, all-around better option. If you are on an existing plan that you have had for years, and are paying the monthly bill without question, it may finally be time to start questioning it. Do a little bit of cross shopping and price comparison, and you might just find that there are terrific deals available. Stop paying as you go, and sign up for a prepaid plan today.

Watch What You Spend

One of the simplest ways to cut expenses when living off campus is to cut back on spending. Going to the bar, eating out with friends, buying new clothes, hitting up the local clubs, and spending extravagantly on weekend getaways can cost a lot of money. And this is before ever spending a penny on your recurring monthly bills. Don’t pay attention to your expenses, and you may find yourself digging a deeper and deeper financial hole with each passing month. Don’t let that happen. Use apps like Mint to budget accordingly, and embrace free (and affordable) pastimes and attractions, and you can take charge of your finances.

Posted in Financial Literacy0 Comments

Preparing for Unexpected College Expenses

Preparing for Unexpected College Expenses

College is already stressful – workload, course load, homework and projects, club meetings and events without adding financial troubles to the mix. However, properly preparing for unexpected college expenses can help minimize stress.

There are plenty of places where students can go to get help managing money, applying for financial aid, and getting familiar with what to expect from college, including the Federal Student Aid.

Textbooks on a Dime

Text books are expensive, especially given many students don’t keep them past a year. A great way to keep costs low is to buy used texts as often as possible. There are plenty of online resources to ensure you get quality used books for a low price while others rent textbooks for the quarter, such as Chegg.com or Amazon.

Don’t purchase your books right away, either. Wait until you have a syllabus and know you will be staying in the class. Buying them before the first day can be costly if students drop the class for one reason or another. Fall quarter syllabus created in the summer can also change before the quarter starts up.

Digital text books can be rented or purchased and are often much cheaper, too. Plus instead of weighty books, they’re as light as the device they’re saved on.

Balanced Budgets

Budgets are the hardest part to stick to. Saving even 10 percent of your income from jobs or student aid can greatly increase your ability to cover unexpected costs.

Monitor your spending. Instead of springing for cable or daily lattes, go for Netflix and a coffee maker. There are ways college students can sway out spending for lower-cost options all over the place. Food costs can be cut by pooling food money and buying in bulk. Housing can be less expensive the farther from the campus students live, though, get too far out and you may need a car (negating some savings).

Credit cards can be a dangerous slope, as minimum payments are never enough and costs rack up quickly. It’s good to have an emergency credit card, but its easy to overspend via credit cards.

Having a car can be really fun, but aren’t the most cost-effective possession for a young college student. However, if you really want one to have cool road trips in or to haul your college gear, check out local DMV locations to get your in-state license if you don’t already have one.

Student Discounts

Many places offer student discounts when you show your student ID. Anything from insurance to food, clothing to services, and more. Organizations have already compiled comprehensive lists of places with student discounts, so all you may have to find is where businesses are located. When you’re at the register, just ask if they have a student discount and hopefully you’ll be able to save a couple bucks.

Amazon Prime even has a discounted version for students. Prime Student is a six-month free trial of all Prime services. After the initial trial ends, eligible students get a 50-percent saving off Amazon Prime for four years.

Posted in Financial Literacy0 Comments

Making The Move To College: Bargain Budget Must-Haves

Making The Move To College: Bargain Budget Must-Haves

There is no shortage of college preparation checklists and must-haves available on the internet. But as a soon-to-be college student who is preparing for an impending move on a tight budget, it’s a different story. With that in mind, here are some of the bare essentials you’ll need to live comfortably in college:

A Cozy Place to Sleep

After an all-night study session, there’s no place more comfortable than your bed. And since quality sleep has a strong correlation with academic performance, it is worth it to spend your hard-earned money on a quality mattress and bedding that you love. When it comes to buying a mattress, shop around and compare prices. Be sure to check online as well. While one may assume that it would be more costly to buy such a bulky item online due to shipping, it can actually be more affordable.

When it comes to bedding, you’ll need at least one set of sheets (or two if you have room to store a spare set), a down comforter, a duvet set and pillows (at least one for sleeping and a few decorative ones). If you’re going to splurge on one thing, it should be the pillow that you’ll sleep on. You can often save big on sheets with a set by Amazon Basics or find some at a discount chain like Marshall’s or TJ Maxx. When shopping for anything bedding-related, be sure to shop around, as there are many great deals to be had if you have time to seek them out.

Homey Flourishes

Finding decor items that you love can make your dorm room or new apartment feel like home and help ease the transition into college life. Start by getting a few nice picture frames that you can use to frame some of your favorite photos of friends and family back home. Opt for a collage-style frame that can hold multiple photos if you have minimal wall space to hang pictures. Find knick-knacks like quirky bookends or colorful candles to infuse a little more personality into your new living space. Add a cozy throw blanket to the end of the bed to add a little more warmth, both literally and visually.

Additional Storage

Few college living arrangements are known for their ample storage space, so be prepared to invest in storage solutions. A plastic three-drawer storage chest on wheels is ideal for storing everything from socks and t-shirts to dry food goods, like macaroni and cheese and canned soup. If floor space is especially limited, use one of these storage chests as a nightstand.

Cooking Essentials

The stereotypical college student of years past may have lived off of instant ramen noodle soup, but today’s college crowd is more health conscious. While you may eat most meals in the campus dining hall, it’s still worth spending a little money to outfit your new place with a few cooking essentials. All you really need is a mini refrigerator, a small microwave and a few bowls, cups, plates and cutlery. You can find the small appliances available at steep discounts during back-to-school sales or even on Craigslist or Facebook Marketplace.

Posted in Financial Literacy0 Comments

Budgeting For Your College Study Abroad Experience

Budgeting For Your College Study Abroad Experience

Most students who study abroad find it to be incredibly rewarding and fulfilling. It is an experience that you will carry with you for the rest of your life, and may impact you in untold ways. But there is one minor issue: how do you pay for it? If your parents or grandparents are footing the bill, you have nothing to worry about, but for those students who are paying their own way, here are things to consider so you can properly budget for your time abroad – whether it’s a single semester or several years.

Paying for It

The first and most important consideration is paying for your time abroad. If you are planning to travel overseas for several years, you may be eligible for a student/work visa, in which case, you can earn money on the local economy. However, if you are planning to study abroad for a single semester, you likely will be forbidden from working in-country – so be prepared to save up enough money in advance to carry you through your entire term.

To pay for your trip, first determine how much you need. Is the program $5,000? $10,000? Remember, factor in both upfront costs, and those that will be incurred while you’re overseas. It does you no good to pay for your trip if you have no money for living expenses once you get there. For a ballpark estimate of how much you should be putting away every month, use a savings calculator to see how far your money will take you – and how quickly it will get you to your goal. If your current income won’t get you over the finish line in time, consider getting a second job, or starting a secondary business, like Uber or Amway. The extra income you earn could be the last piece of the puzzle.

Figuring Out the Local Economy

You’ll have to learn a lot of on the fly once you get to your destination. Does the economy support credit cards, or will you need to have cash on you at all times? How does the cost of living compare to home? How does the value of the dollar compare to the local currency – are you making money with each purchase, or losing it? To help avoid culture shock, do a bit of research in advance so that you know the answers to these questions before you arrive.

Other things to consider include daily withdrawal limits, using your ATM card overseas, and whether or not you’ll have to pay international transaction and currency conversion fees. In all cases, you should speak directly with your bank or credit card provider regarding these questions. For peace of mind, and to ensure that you’ll have access to your money when you need it. The last thing that you want it to be unable to pay for a meal, or take money from an automatic teller, because your card isn’t compatible in the country you are visiting.

Spending and Getting by While You’re There

If you’re on a fixed income during your study abroad, it’s important that you put together a budget plan. Why? So that you have a good idea of how much money you can spend in a given period of time – say, a week or month, for example. If you spend more in a given period of time than you’ve budgeted for, this means that you have less money at your disposal in the next spending period. If you don’t account for this, you could find yourself completely out of money long before your semester (or year) abroad is over. It should be obvious to everyone that this is far from ideal!

Thankfully, there are a number of ways to save money here and there, all of which can help your dollar go further. And if it’s true that overspending leaves you with less money for your next spending period, then it’s also true that underspending leaves you with more! Being frugal here and there – by eating in, bringing snacks with you, visiting free attractions, and taking part in free activities, to name just a few examples – can pay dividends in the long run. There’s nothing better than occasionally being able to splurge on yourself because you’ve followed all of the rules.

Posted in Financial Literacy0 Comments

3 Real Ways To Cut Your Expenses At College

3 Real Ways To Cut Your Expenses At College

CuttingCostsAs a college student, you are likely looking for any way to cut your spending and save some cash. Plenty of people and articles will tell you to stop getting Starbucks or closely examine all of your small expenditures – because they can certainly add up! However, is that really the biggest way to make a financial impact? Here are some tips to save and make money in the long term.

Examine Your Current Bills

The first place to look at cutting your spending is by examining your recurring bills. For the most part, these are services you need, but you may be able to cut out some of them. For example, if you pay for a streaming service such as Hulu or Netflix, do you also need to be paying for cable? Is there any way you can split entertainment services with friends and roommates? There’s also a good chance you are overpaying for some services, like your cell phone. Switch to a plan with no unexpected costs or hidden fees, such as T-Mobile One. If you have a strong credit history and a good record of paying your bills on time, try calling your cell provider, or even your electric company, to see if they are willing to lower your monthly payment. They often want to keep good customers like you, and will be willing to work with you if you explain your budget.

Track Your Spending Habits

Time to dissect that credit card bill! While cutting out a latte per week may not make that big of a difference in your financial situation, completely analyzing your current budget and creating a new one that is more in line with your ideals can. It may seem stressful and time-consuming to go through all your spending and come up with a plan, but thankfully there are personal finance apps that do it all for you. For example, Mint connects to your bank accounts to track your spending by category, such as restaurants, groceries, entertainment, gas and more. From this information and your input on priorities and goals, it creates a personal budget plan for you. It can even warn you when you are close to reaching your monthly budget, alert you when bills are near due, and more! Having a pulse on your funds at all times will make you more responsible with your spending.

Minimalize

Whether we like it or not, a lot of us are materialistic. While this is not necessarily terrible for your financial situation, minimalization is sure to improve it. Start by taking a look through your clothes and taking out anything you haven’t worn in the past three months. Sell these clothes to thrift shops or an online marketplace, and make a couple bucks. Next, move on to some non-essentials, such as makeup. Put all your products in one location and move them to another as you use them. If you haven’t used a product within two weeks, you should probably throw it away. Continue to do this throughout your living space. While you may not receive much financial gain from this type of spring cleaning, keeping the mentality will save you money over time. Before you make a purchase, think of what it will provide to your life, and even consider how much you are paying per usage. For example, a $200 dress that you will only wear once seems a little silly, right?

Saving money can be difficult, but there are many expenses that are easier to cut back on than you might think. Dedicate some time to looking at your wallet and figuring out a plan to improve your financial situation. Your future self will thank you!

Posted in Financial Literacy0 Comments

College Essentials 101: Mitigate Your Student Debt

College Essentials 101: Mitigate Your Student Debt

Even if you have already had to bite the bullet and take out loans to pay tuition, that doesn’t mean you have to finance your entire 4 years with debt. You can still find ways to minimize the debt or even avoid it altogether. It takes a little creativity and sacrifice. But that’s what your college years are for! So here are 5 tips for graduating with the smallest amount of debt possible.

#1 Get a Part Time Job

Working while studying is becoming more and more common these days so you won’t have too much trouble finding an employer willing to work around your class schedule. And a part time job can bring in enough money to cover your living expenses. So by working part time, you can avoid thousands of dollars in debt because you aren’t adding 4 years of living expenses to your tab.

And beyond that, there are some employers that even offer education benefits. These employers will pay part (or sometimes all) of your tuition in addition to paying you wages. So if you find the right employer, you could not only save on living expenses but you could even decrease the amount of debt you’re taking for tuition!

Do your research and ask about education benefits in your interviews.

#2 Embrace the “Starving Student” Lifestyle

While at college, you are going to see too many students driving cars and renting apartments they can’t really afford. They buy the name brand groceries. They get the newest electronics. They go out way too often. Don’t be that student.

There are a lot of non-essentials that you can do without. Here are few of the obvious and less obvious things that you can do to cut the non-essentials and save tons of money:

  • Get a used car. Buy a reliable used car with cash. Don’t take out a loan to drive a new car. You’re a student. You have no reason to be driving a new car. Better yet, you could be using public transport and avoid all the expenses of owning a car like insurance, gas, maintenance, parking fees, and so on.
  • Live with roommates. This will save you hundreds every month.
  • Skip the TV. Just watch movies and TV shows on your computer.
  • Buy generic. Get the generic brands of all your foods. Get canned or frozen produce so that it doesn’t spoil before you eat it.
  • Invite people over instead of going out. Buying some snacks and drinks to enjoy at home with friends is much, much cheaper than going out to a restaurant or club. It’s also just as fun. And they’re broke to so you’re helping them out.

There’s a lot of ways to avoid spending money. In 4 years, you will be thanking yourself.

#3 Remember Credit Cards are not Free Money

When making your monthly budget, don’t include your credit card limit as part of your “available money” for the month. Budget as if you were living purely on cash. Credit cards should exist to get you through an emergency. You shouldn’t go into debt to cover your normal expenses.

So if you can’t afford it without using credit cards, you need to rethink your budget and start making some cuts. In fact, you shouldn’t even be carrying your credit card in your wallet. Keep it in a drawer in your room. Don’t touch it unless you absolutely need it.

If that advice sounds too tough to follow, please refer back to tip #2! If you’ve already cut everything from your budget that you possibly can, look for creative ways to earn more money before you go into debt.

#4 Keep Applying for Scholarships

Many people know that they should apply to scholarships and financial aid before they start college. But did you know that you can keep applying even after you’ve already started? There are plenty of scholarships out there that are available to students who have already begun studying.

Make a habit of checking and applying to scholarships, grants, and other sources of financial aid. Set aside an afternoon or evening once a month to scour the web and apply for everything you can.

It’s a numbers game. If you apply to hundreds of different scholarships throughout the year, you’re bound to actually get a couple. And even if they don’t cover everything, they will make a dent. And remember that every dollar you can take off of your total student debt is worth more than a dollar in the long run. That’s because the smaller your principal amount is, the slower the interest on that amount will grow.

#5 Work & Save Money during the Summers

After a year of studying and stressing over finals, it can be tempting to use your summers to relax and recuperate. That’s especially true if you work part time during the year. But imagine this: if you worked full time during the summer months and saved up the majority of that money, you could potentially save yourself from having to work during the school year.

At the very least, you could save enough to cut your hours or allow yourself to splurge on a few “luxuries” like that name brand cereal you love.

Final Word

Heading off to college can feel like your first taste of freedom and adulthood. But you have to realize that with that freedom comes responsibility. You can’t keep digging deeper into debt just to pay for things you don’t need. You will have to pay for it later, literally! Ensure that you have a solid, debt-free (or low debt) start to your actual adulthood after college by practicing the tips above and other smart money management practices!

Today’s guest article comes from Kostas Chiotis, an economic blogger with a keen eye for personal finance. You can find more of his articles at FinanceBlogZone.com and follow him on Twitter or Facebook.

Related Posts with Thumbnails

Posted in Financial Literacy0 Comments

Advert