The semester has begun, and whether it’s your first, or last as a college student, finances are important. Here are a few financial tips for those college years.
Figure Out Who Pays What
It is essential to determine how the costs of your education are being covered. Have a conversation with your parents. You need to know how much of your education you’re financially responsible for. Talk about grants, loans, or any college funds that were set up. College is an expensive prospect, but knowing where the money is coming from will help.
Set a Budget
Once you know the costs and your financial situation, you can create a budget. Figure out how much you spend during the week or month. You don’t want to have to call up your parents because you’ve been irresponsible, so including all of your spending is important. Adjusting your spending to fit your budget can be a challenge, but having the numbers in front of you can help. Living within your budget is a must, especially while in college. It will prepare you for the rest of your life.
Use Your Meal Plan
Most schools offer a meal plan, and if you pay for it, use it. You don’t want to be spending extra money eating off campus all the time. Meal plans typically offer three meals a day, and nowadays, the food is pretty good. You will save money eating in the dining hall, and you’ll be happier in the long run.
Set Boundaries with Roommates
If you’ve been awarded grants or scholarships, college will be less expensive for you. Having a job or an allowance will give you extra cash in your pocket. Don’t let people take advantage of you because of it. On the other hand, if you have a budget you need to stick to, you shouldn’t be paying for everything either. Set a clear plan for expenses with your roommates. Decide who pays for which items, and if you live off campus, there will be bills to discuss.
If you’re looking to save some money while at school and prepare for your future, click here to discover the variety of options available to you at SeaComm. This includes regular savings, money market accounts, certificates, and more. Need assistance? Call us at (800) 764-0566 or stop by your nearest SeaComm branch location – our goal is to help you reach yours!