College is a fun time, as well as a time of opportunity. From learning, to living, to relationships, it provides the opportunity for young people to grow up and learn how to become functioning, healthy adults.
In addition to all those benefits of college, the school years can also teach a young adult how to save, manage and track their money and purchases while on campus. And for many people, it can be the first time that a budget and the realities of managing and saving money come into play. Here are a few money management tips.
Make A Budget – And Stick To It!
This is critical no matter what you do, or where you live as a college student. Regardless of the amount of money you may have, it’s important to understand what you are able to pay for, and what you need to be saving.
Make a budget that you can live with reasonably – food, clothing, entertainment, and beer – and pledge to stick to it! No unnecessary purchases allowed, though you can build in some fun money to your budget so you’re not all business.
Hit Free Events For Food
One of the best parts of college is the free food. Pizza is everywhere! Hit up free on campus events for food instead of constantly buying food wherever you are, and save some money. In the process, you get to hang out with great people, and meet new friends.
Plus, when you join a few great organizations that offer all this free food at events, you can really help boost your resume and maybe even help make the difference in whether or not you get a job in the future!
Work In Your Free Time
If you’re able to do it, take on a part time job now. Whether it’s on campus, or off campus at a restaurant or company, it’s never too soon to start working and saving money as you go through college.
Take on a job that you can handle and make a little money now, so that when you graduate, you not only have some money to be flexible with, but you’ve also got valuable work experience that you can use right away.
Saving and managing money in college can be a true reality check. Whether it’s making sure that you aren’t overpaying on products and services or making sure that you’ll have enough in the bank when you graduate, it’s critical that you learn to manage money properly if only for the reason that it will build a great habit for your future as a responsible adult.