Managing Your Money

Managing Your Money

College is expensive so saving money becomes a top priority during those crucial academic years. It’s easy to fall prey to many of these common problems when you’re preoccupied with group projects and lab reports but, with our help, you’ll be on the road to financial responsibility.

Problem #1: You have a meal plan, but you order out almost every day.

Sometimes it’s good to treat yourself to food besides what’s available in the dining hall. However, if you’ve already paid for a meal plan, ordering out constantly is a big waste of money. Try switching things up in the dining hall or consider getting a smaller plan for next semester.

Problem #2: Parking on campus is a pain…and you’ve got about ten tickets to prove it.

When you’re running late, it can be very tempting to leave your car in a “No Parking Zone in order to make it somewhere on time. However, all of those tickets really add up. Consider leaving earlier, taking public transportation, or carpooling with friends instead.

Problem #3: Your dorm room has damages but you don’t feel like reporting them.

If you didn’t cause the problem, don’t get stuck paying for it! If you notice a paint chip or even a missing screw, report it to your RA or Building Services. Furthermore, take care of your room and don’t cause any damage yourself.

Problem #4: You forgot to pay your credit card bill on time…again.

In case you missed our College Credit Cards: Do’s and Don’ts post, building credit is important – IF you do it properly. Credit card companies make money off high interest rates and customers that don’t pay their bills on time. Set an event in your phone’s calendar and pay on time, every time.

Problem #5: Skipping college discounts.

Tons of companies offer discounts to students if they have their college ID. Don’t pass up a discount simply because you don’t want to ask if one is offered! College students can get discounted prices on practically anything – from computer software to restaurant food.

How do you save money when you’re away at school? Post a comment below!

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One Response to Managing Your Money

  1. 12.03.12

    It’s so hard to manage your allowance! Frugal living is indeed tough, but it’s worth it!

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