Keep reading to find out 15 ways that EVERY college student should save money.
Movies place a glossy film on the realities of going to college.
You will not juggle activities the way you used to in high school and this is a fact that many of us will learn the hard way.
Good news is that the sappy advice "Everything get's better with time" is right. Junior year, while still intimidating, doesn't have the same effect it once did.
As I tackled new experiences I realized that I was spending money faster than I received it. I was on a slippery slope and the only way to get off was to increase my money intelligence.
In preparation for a new school year I want to share 15 simple and clever lessons on making the money you have last longer.
Research the cost of tuition.
A private college like NYU can cost around 27k for a 15 credit semester as an undergraduate student. Keep in mind that if you plan on being in the health field or obtain any job where a masters or PHD is needed you can expect paying more for college tuition in the future.
As an undergraduate student if your financial aid doesn't fully cover the tuition then the cheaper the cost the better. Ensure that the university or community college offers your desired program and then compare prices.
Carefully look at your financial aid package
When a college sends you a financial aid package it may not include the cost of books or staying in a dorm. Even worst they may provide you with full coverage for the first year and then you are on your own to cover the remaining one to three years of your college experience.
Check out how much aid you are receiving and make sure to set reminders for renewal deadlines.
Avoid paying to live on campus
By staying at home for college you can avoid the cost of rent and groceries. I knew a lot of students who helped out their households but they did this on a part-time income. As the cost of living rises one part-time salary isn't enough to sustain a comfortable living arrangement unless you have roommates.
Become a resident assistant (RA)
When you become a RA at your university you are paid to live in the dorms. You monitor the floor(s), keep an eye out for your peers, and guide them in the right direction if they need assistance. With rent covered you can now focus on affordable ways to buy groceries and other ways to save on a budget.
Being a RA is one way to cheaply live on campus if you want to move out right away.
Live within your means
Living within your means includes not buying an apartment that you can not afford.
Use your search engine and find low cost apartments on websites like Apartments.com. You're in college to gain access to better opportunities and your first apartment does not have to be your last. In the meantime you can look into small DIY projects to spruce up the space you live in.
Apply for financial aid
Growing up I didn't have a plan for college besides the fact that I was going. Applying for Financial aid is one of the most crucial steps you will ever need to do when applying for college. Tuition will still be due even if you skip filling out the FAFSA and TAP application.
I was lucky enough to receive full financial aid my first year in college and this money was put to great use.Extra money left over allowed me to receive a refund check and advance for my books. Can't go wrong with free money!
Apply for scholarships
My high school gave me money for ranking #2 in my graduating class.
You can also check out any Honor Programs that are offered and apply for scholarships!
All money goes toward tuition and anything left over is deposited into your bank account or mailed out as a check. The remaining balance can help with household supplies, transportation , or can simply be saved.
Save your refund check
Don't get discouraged by what you are able to put away. It'll multiply in no time especially if you do not have to buy all of your textbooks.
Saving money is easier once you start to develop better financial habits. This can include using extra funds for an emergency fund,