4 Money Management Tips for Students

October 05, 2017 14:14 |

4 smart money management tips while in college.

high school to college students money management tips

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Fabian Blank

This article published by Nationwide, shows how important it is for students to learn how to manage their money and other resources in college. More and more students are graduating with a ridiculous amount of debt. Here are 4 helpful tips to start college off right:

1. Create a budget and stick with it!

When setting your budget, be honest. Use your money for the things you absolutely need and then evaluate how much you can afford for other purchases you may want. Keep up with your spending by checking your account balance regularly.

2. Wait to buy your textbooks

Textbooks in college are super expensive! Hold off on buying any books until you have been to class and checked with your teacher and classmates. If you absolutely have to buy your own books, check online. There are much cheaper textbooks through renting or buying used books.

3. Learn healthy spending habits

Make sure if you have any bills, you pay on time. Learning to keep good credit will help you for the rest of your life! In addition, make sure you’re spending the correct amount on food. Your meal plan is something you can always adjust, so don’t start out with the biggest or smallest plans. On that note, there are many opportunities in college to score a free meal from social events and entertainment, so keep that in mind!

4. Leave the car

Let me tell you from experience. Bringing your car to college is waste of time and money. People were always asking for rides and almost never gave me gas money! A lot of campuses are better for walkers because parking can be non-existent or expensive. Keep your car at home and walk! You’ll be happier in the long run.

College is so much fun, so don’t let money be the reason you’re stressed out. Let it be the normal college things: too little sleep and too much work.