Many young adults are just starting their new journey into college. I remember the struggles I faced in while attending college. It can be a bit costly each semester. The goal will be to find cheaper alternatives to not put yourself into a huge financial hole. Here are a few tips to survive your first semester:
Start building your credit early
Apply for a secured card or credit card. Word of caution! These tools are for building ;not emergencies or shopping sprees.
Check out self lender. This amazing tool helps you reach your saving goals and build your credit.
https://www.self.inc/?utm_source=refer-a-friend&utm_medium=referral
Check out these secured cards.
Become an authorized user on someone else card. This is the fastest way to rack up almost 100 points.
Always Pay your Bills on Time
Your money habits during college will reap effects that will follow you throught your adult life. Make wise choices. Pay on time. If you borrow, pay it back!
Student Loans: ONLY BORROW What you need
One of my biggest mistakes in college, was believing this was free money. I knew it was a loan but I was living in the moment, splurging and shopping for things that I did not need. I wish I would have made better choices with managing my loans. Student loans can be extremely dangerous. I’ve seen young adults have their wages garnished. Educate yourself on interest and its effect on loan borrowing.
Budget. Live Like You’re Broke
You don’t need a fancy excel sheet to budget. You can use calendars, planners and a notebook to track your spending and bills. Save for an emergency. Budget! You do not have to buy everything you “think you need”. It’s okay to walk away and save. You really will have to discipline yourself.
Pick up Side Jobs
Start on campus! Search the on- campus job board for student workers. There are always a need for workers. Find flexible part- time jobs that will work with your schedule. The more money you can make, the less student loan debt you will accumulate.
Save on Food Spending
You want to know a secret? College has tons of events, meetings and parties? Thinking about joining an organization? Attend a meeting. I guarantee you, there will be plenty of food. That will give you a break on spending money on eating.
Ask For Student Discounts
Many business near your campus offer discounts. It does not hurt to ask. You’d be surprise of how many business will give discounts.
Save on Gas
Use the free transportationon campus
I used to take advantage of the free transits that passed on campus. There were day that I didn’t feel like walking far or making too many gas stops. This saved me money on gas and wearing and tearing on my used car.
First Apartment
Get a roommate. It will be much cheaper to split rent and utilities with a roommate. I love my privacy, but living with a roommate while in college saved me a lot of money. Remember, if you really want to save money, it is okay to stay at home with parents. You can save thousands each semester by living at home.
Utilize the FREE Wi Fi
Think about it! There is FREE WIFI all over campus. You can also cut your phone bill down in half.
If you follow these tips, you will survive your first semester with less debt. College is a huge and exciting journey. Enjoy it but also be responsible. You must become the master of your finances.
