Your Guide to College Life
Monday December 11th 2017

Student Financial Advice – Tips for Future College Students

Money management is one of the most important skills for a student; this is one thing that every student will have to deal with, even if you are enrolled in a distance learning MBA or any other online program. Personal finances are far from easy, so to make it a bit easier for your Campus Central created a short tutorial for future and present college students to handle their finances. So to start this student financial advice tutorial we will begin with money management.

It is very easy to get tempted, you have your own money to manage and it can be very easy to spend it on things you couldn’t before as there is no one here to stop you. The only way to avoid that trap is to play it smart, going slow is the only way to keep your finances in order, so the first tip and first student financial advice is to let everything settle down; don’t rush your impulses and spend money on things you might later regret that may also leave you in financial trouble.

So here are a few things you can do to keep your student finances in order. You can join a credit union, make sure that you investigate a bit and find a good one. If you are considering getting a credit card, you should avoid it at all costs unless is absolutely necessary. Make sure that you avoid getting any kind of debts that are unrelated to your school. The most important financial tip for anyone in any situation is to save and then spend. Anyone can buy something on his credit card, but when the time comes to pay the debt it can get really tough, so if there is something you want to get, save the money first and then you can buy whatever it is that you wanted to get.

Organization is very important, you need to learn to pay your bills on time, as once you lose track of them it can get messy. It is important to track your spending habits, write down your expenses, that way you will be able to create a budget. Take the first month as an example of how much you spend and how much you need, eliminate all the unnecessary things from your list, and make sure that you put something aside every month.

Campus will be a great source of your expenses, so you need to make sure that you know what is important and what isn’t. If you want you can save some money by buying used textbooks and sell them at the end of the term.

Another great way to save money is to give up your car. A car needs maintenance, insurance, gas, parking, registration, all of that requires a significant amount, you can use public transportation, it will save you money.

Another thing you can do to save money is to avoid going out and hanging out too much with the big spenders, it is easy to get hooked into buying things when you are around people who spend money because they have a greater budget than you do.

A college is a place where you will not only learn about your subject of choice, but this is the best training for your future life. The habits you develop in college will stick around, so if you manage to learn how to make smart choices and save some money that will stick with you for the rest of your life.

The last option for your student financial advice is getting a job. That may not be a bad idea, but only if you can maintain your academic achievements. Your college and your grades is what matters, they are your priority, so if you are going to get a job, make sure that you can keep the same level as you did before.

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