Now that you are off to college, you are worry free right? NO you certainly are not. For us students that don’t have their parents transferring money into our bank accounts every month, we have to be money smart! I have had so many of my friends struggle with money while they were in college and literally had to borrow a couple bucks for a coffee! Don’t be like so many college students who have to worry about money, after all you have enough to worry about with school.
I have a dozen tips for you college students. Follow these and you WILL save money
Tip # 1 : Make a Plan
The best way to manage your money over the course of a semester is to sit down and write out a budget. List sources of income such as scholarships, loans, money from summer jobs and cash from your parents as well as expenses, such as tuition, books and groceries.
Tip # 2 : Track All Money Spent
Track your spending for two to four weeks to find out where your spending your money. For example if you love the coffee at a local coffee shop, is it necessary to spend all your money their in a week? No. So track your money.
Tip # 3 : Pace Yourself
If you spend all your money at the beginning of the semester, you could be really screwed later on. Give yourself a spending limit for each week. Stick to it and you will never starve!
Tip # 4 : Fun Money
You will need to have some money for yourself to enjoy yourself. Whether that means to go to a concert or go for a few beers you need the fun time too. Or you may burn out!
Tip # 5 : Keep Credit Cards Hidden
One way to spend all your money and money you cannot pay back is to keep a credit cards handy. Instead keep your credit card hidden and only use it if your in an emergency.
For those students who have spent all their student loan on drinking, partying, or shopping please be honest with your family and let them know. This may feel like the end of the world but the sooner you tell them the sooner they can help you. Please do not let it get his serious tho. Try my advice!