Getting an education is a great way to set your path for achievement through life. It is an investment that will open doors for you to success in the future. To reach this goal, it takes time, money, and careful planning. With these tips, you will be able to invest into your education, with less stress on your wallet.
Before beginning this college chapter in your life, it is essential to understand the costs associated with your degree. Most students will receive a loan in order to pay for college. Be sure to understand the meaning of interest rates, fees, and your repayment schedule. Sit down with a resource provided through your school to understand your options.
One way to ensure that you will live within your means is creating a budget. This can be a simple outline or more in-depth. The important part of this is committing to abide by it. This will give you a sense of what your money is worth, which will be useful throughout your entire life. If you learn to budget while in school, you will be able to budget once things such as student loans, car payments, and rent come into play after you graduate. Sitting down and covering all costs that you can foresee within your college years is a great place to start, and there are many budgeting tools and templates online that can string everything together.
Here are some tips to money-saving success for when you arrive at college:
1. No impulse buys
2. Say yes to free food provided on campus
3. Use your student discount!
4. Buy used or rent textbooks
5. Buy in bulk for things you will need
6. Buy generic and on sale items
Looking to save more while in school? Open a no-fee checking account at GSCU to easily access, and save, your money!
