Missy Blog

Finishing High School and moving away to college can be an exciting time in anyone’s life. However, it can also be an expensive, therefore stressful, time. Knowing some money saving tips can reduce the stress and minimize the expense of what may be the foundation of your future.

One of the biggest money saving tips: decline all those credit card offers! Credit cards are a temptation, as at this point the credit card companies are making offers left and right. Since many college students have never had a credit card before, it is a thrill to be offered so much credit! Interest rates and finance charges pile up quickly, though, and the use of credit cards can lead to huge debt in just a short time.

It is best to keep only one credit card when starting a college career. Find an offer with a low credit limit, a low interest rate and only use what is budgeted for credit card expenses. This will build up the users credit rating, allow for an emergency expense, while also limiting the stress of overdue payments and roll-over debt.

Other tips are much more common sense. College tuition comes at a big cost, but believe it or not so do the books and materials required! Money saving tip number two is look for used books and class tools. Many college students try to get rid of things used last semester, so it is easy to find good deals on books and materials that have been gently used. Look in the college newspaper, on the bulletin boards and in the bookstore for used items.

Number three – don’t buy lunch everyday! Eating out constantly can take a huge chunk out of a grocery budget. If you live on campus, purchasing a meal plan at the cafeteria might be cost effective, but eating at the fast food restaurants that pop-up around the college will take quite a “bite” out of your budget.

Living on or close to campus is always better financially, as the cost of gas adds up fast. No matter where you live, you will probably be paying rent, so look for a place close to the college so you can either walk or driving will be kept to a minimum.

No matter the money saving tips, the first step to remaining sound financially is to create a budget for expenses. When a budget is written down and followed, debt will not accumulate, leading to stress.