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General Resource : Resources for Colleges >> 6. College Survival Guide

  • Money Management Tips For College Students
  • Money Management Tips For College Students
    By Staff Writer

    Managing money well is a challenging task for most college students. Though most college students have good support of their parents, it is very important for students to take charge of their own finances during this stage. A college student has to take care of college fees, food bills, expenses for books, leisure and social activities and more. If you are a college student who is finding it difficult to take care of your expenses, here are few tips for you.
     
    Budget
     
    It is best to make a budget for yourself. Do not splurge on clothes and parties. You should check how much money you have every month and then allocate it for your essential expenses. If possible, you should save some money and invest it. Your saved money will be working hard to give you good returns.
     
    Part Time Jobs
     
    You are grownup now, so you should not depend on your parents for all your financial needs. It is best to take up a part time job. There are lots of jobs for students on the campus as well as off campus. With a part time job, not only will you have more money to take care of your expenses but you will also get good work experience. This also helps you in identifying your skills, which can help you to pursue a career of your choice in future.
     
    Do Not Get Into Debt
     
    It is best that you don’t get in to any sort of debt like credit card debts. There is no use in borrowing money you cannot pay back. By spending on your credit card more than what you can afford, you will spoil your credit score.
     
    In short, it’s very important to learn money management skills in life and the earlier you learn them, the better it is.
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