Sep 18
Saving you money for life tip: Help your college student spend wisely
Have you ever the heard the phrase “I’m a poor college student?” I think most people who went to college have said or have heard their peers mutter these words a time or two, especially in today’s economic condition where money is tight for everyone. Fortunately, there are ways to cut back on spending and help your college student enjoy their college experience without financial frustration.
To help cash-strapped college students spend less on added college expenses, check out the top 10 tips that the ABA Education Foundation recommends:
- Be responsible – Create and stick to a realistic budget.
- Watch spending – Cut unnecessary spending, such as dining out or shopping.
- Limit credit use – Don’t let credit card debt get out of hand. It could be haunting after college.
- Open a bank account (if the student doesn’t already have one) – A bank offers a valuable way to protect and save money.
- Be on the lookout for savings – College students can receive valuable money, such as scholarships and student discounts.
- Buy used – Buy used books and shop online for cheap deals.
- Socialize on a budget – Stick to a budget when it comes to social activities. Many college’s offer fun activities that are free to most students.
- Be careful with your money – Don’t trust everyone when it comes to money. Be skeptical and determine if lending money is a safe financial risk to take.
- Save – Put a little bit of money aside periodically to save for a mishap, such as a computer glitch or an unexpected school fee.
- Ask questions about money – Talk to people who know the ins and outs of college spending. It’s better to ask a lot of questions than play the guessing game.
By following these tips, your college student will be able to make the most of their college experience and concentrate on the things that matter most.
For an additional way to save money, shop online to get free term life insurance quotes. You may be able to save up to 70% on your term life coverage! Continue checking AccuQuote’s blog, become a fan of AccuQuote on Facebook, and follow us on Twitter for more valuable money saving tips and to learn about the benefits of term life insurance.
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September 18th, 2009 at 2:22 pm
My senior year of high school, they taught us all about this in economics. But, at least for me, it didn’t completely sink in. I guess experience is the best teacher
September 20th, 2009 at 11:49 am
With the costs of college rising to unprecented levels it is almost becoming impossible to attend without obtaining a loan or grant.
September 25th, 2009 at 10:46 am
That’s true. Fortunately there are many resources for high school and college students that offer loans, grants and scholarships for various personal and financial reasons.