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Several years ago I started college for the first time. I had to fill out all of my paperwork myself, since I was living on my own. Then I got pregnant with my oldest and had to drop out because I just wasn't financially prepared. I wish my parents would have financially prepared me for college and adulthood. My grandmother tried, but wasn't really successful since she couldn't help me daily on what I needed help with.
When my boys became teens, I started sitting down with them and talking about money management, both for college and adulthood.
When you’re heading off to college, you’re not always prepared for how expensive it can be. So, it’s always good to know how you can make your money stretch. Here are three ideas to help you manage your money better.
Money Saving Tips For Kids Heading Off to College
Set A Budget
First of all, you really do need to make sure that you know how much you have available each month. With a set budget, it’s much easier for you to allocate funds for everything from food to books. And then, when you know what you’re working with, it’s easier to spend more consciously too.
Get A Job
You may not like the idea of working in college, but it could be really useful for you to get some extra cash for fun and living expenses. It can be cool to have a part time job, and you’ll get experience. So, don’t necessarily write this off right away. Talk with someone at the college in the administration building. They often offer work programs that help you paying down your loans and put money in your pocket as well. This is literally a win-win for you & the college.
Now, if your friends are all spending money left right and center, you may way to too. But you have to get smart about this. You just have to. Try to be economical as you can. If you got to a college in a city, there are great transport options to get you around. Just take a look at the infographic below for information on metric links and shared bike access. This can help you to save money around the city. But also, just try to think about how you can spend as consciously as possible.
Infographic Design By University of Southern California