College can be expensive, but fun. Here are some simply money management tips to help take some of the stress away from your expenses!
Create A Budget
List all of your essential expenses that stay the same each month (like rent or a bus pass) and all that change weekly (like groceries). Set aside money for those expenses. The left-over money can be used for non-essentials, like entertainment, etc. Avoid overspending. If an unexpected expense comes up, decide which non-essential items to cut to pay for the expense.
Apply for Loans You Know You Can Repay
A good rule of thumb is don’t borrow more than you can expect to earn your first year out of college.
Apply for Scholarships
You’ll need to write a few dozen essays, but the money you get will be well worth your time and effort.
Buy Used Textbooks
If they’re the same edition, they have the same information as the new ones. Electronic versions are often available and can be rented through your campus bookstore or online at sites like Chegg and Amazon. Also, see if your library has a copy.
Use Cash
Paying with cash instead of using a debit or credit card helps you control miscellaneous purchases. Cash creates a sense of loss that cards do not.
Join a Credit Union
Credit unions have lower loan rates, free checking accounts, and a nationwide network of surcharge-free ATMs. They also provide financial education to help you manage your money. We happen to know a good one that has been invested in their members and local community for over 70 years! (It’s us!)
White Rose Credit Union has all of the tools and resources to ensure that students can be successful.
