10 things every college student should know about money - Ahwatukee Foothills News: Home

default avatar
Welcome to the site! Login or Signup below.
|
||
Logout|My Dashboard

10 things every college student should know about money

Print
Font Size:
Default font size
Larger font size

Related Stories

Posted: Friday, October 7, 2011 3:00 pm

Money is important, and often scarce, to the average college student. Follows are 10 money tips for students:

1. Spend less than you earn. Don't earn much? Then don't spend much. If your spending and income are roughly even, you have two choices: Earn more or spend less.

2. Be an outstanding employee. Good work habits can pay enormous dividends, leading to recommendations and contacts you can use after you're out of school. Many students turn work-study jobs into launching pads for future careers.

3. Don't get a credit card unless you absolutely need one. Don't be a sucker. Those guys sitting behind the sign-up table are not there to help you. They're there to make money.

4. Avoid non-academic debt. It might seem like a good idea to put that Xbox on a credit card, but it's not. Focus on developing good money skills with cash. Worry about credit later.

5. Save and then splurge. If you decide you must have that Xbox, then save for it. Wait until you can pay cash.

6. Pay your bills on time. Basic advice, but it's surprising how many people lose track of things. If you pay your bills as they arrive, you won't have to worry about forgetting them.

7. Track your spending. Use a notebook, or Quicken if you have it. Good records will prevent you from getting overdrawn at the bank or charging more than your credit limit. This habit also allows you to detect spending patterns.

8. Make a budget. It doesn't have to be fancy. At the start of the month, estimate how much money you'll receive and decide where it needs to go. Remember: You don't need to spend it all.

9. Save your receipts. Put them in a shoebox under your bed if you must, but hold onto them. You'll need to be able to compare them with statements at the end of the month. And some you'll need to keep for several years.

10. Guard your vital stats. Don't give out your Social Security number or your credit card information, except to known and trusted sources.

Bob McDonnell is executive director of Arizona College Planners, L.L.C., a member of the College Planning Network, the National Association of College Funding Advisors and the National Association of College Acceptance Counselors. For questions, email Info@ArizonaCollegePlanners.com.

More about

More about

More about

  • Discuss

Is Miami such a bad place to live? It’s ‘the worst,’ this study says

Miami has been called many nasty things over the years, but worse than Detroit? That’s a new low. According to financial news and opinion webs…

Published: June 29, 2016 - 3:59 am @ http://www.miamiherald.com/news/local/community/mi…

DPS: 2 13-year-olds die in crash on northern Arizona roadway

KAIBETO, AZ - A Monday crash involving a semi truck, motor home and two passenger vehicles has left two 13-year-old boys dead. Department of P…

Published: June 29, 2016 - 1:59 am @ http://www.abc15.com/news/region-northern-az/other…

Watch: Trailer for Karlovy Vary Competition Film ‘Zoology’ (EXCLUSIVE)

June 29, 2016 | 12:01AM PT Variety has been given exclusive access to the trailer for Russian filmmaker Ivan Tverdovsky’s “Zoology,” which has…

Published: June 29, 2016 - 12:57 am @ http://variety.com/2016/film/global/trailer-karlov…

FD: 4-year-old rushed to hospital after being pulled from Phoenix pool

PHOENIX - A 4-year-old girl is in critical condition after being pulled from a north Phoenix pool late Tuesday night. A Phoenix Fire Departmen…

Published: June 29, 2016 - 12:57 am @ http://www.abc15.com/news/region-phoenix-metro/nor…

Brexit Sends Tourists Flocking to London to ‘Buy, Buy, Buy’

By voting to leave the European Union, Britons have delivered a potential windfall to tourists eager to snatch up Burberry trenchcoats, Harrod…

Published: June 28, 2016 - 10:26 pm @ http://www.bloomberg.com/news/articles/2016-06-28/…

Dry Heat Check Podcast Ep. 1: Suns Draft, 80s Movies and More

It is the first ever edition of the Dry Heat Check with Jared Cohen and Greg Esposito or also known as the Devin Booker episode because Booker…

Published: June 28, 2016 - 9:55 pm @ http://www.sports360az.com/2016/06/dry-heat-check-…

Free A/C Into Saturday

September Breeze - Promising Holiday Outlook "There's no such thing as bad weather, just soft people" said Bill Bowerman. True, Bill wasn't ar…

Published: June 28, 2016 - 9:55 pm @ http://www.startribune.com/free-a-c-into-saturday-…

It's Not a Comeback, Lots of Updates, and a Hard Lesson Learned

What happens when The Beginning Farmer disappears for months on end? Well, actually lots things happen! Just recently I've been to Arizona to …

Published: June 28, 2016 - 9:07 pm @ http://thebeginningfarmer.blogspot.com/2016/06/tbf…

Two TV Reporters Charged With Child Abuse After 4-Month-Old Daughter Tests Positive for Cocaine in Tucson

Two Arizona television personalities face multiple charges after their baby became ill and eventually tested positive for cocaine, according t…

Published: June 28, 2016 - 8:57 pm @ http://ktla.com/2016/06/28/baby-of-arizona-tv-repo…

You can now major in ‘Moneyball’

First it was a strategy. Then a book. Then a movie. Now “Moneyball,” Michael Lewis’ tale of how the payroll-challenged Oakland A’s used data t…

Published: June 28, 2016 - 8:24 pm @ http://nypost.com/2016/06/28/you-can-now-major-in-…

Facebook

ahwatukee.com on Facebook

Twitter

ahwatukee.com on Twitter

RSS

Subscribe to ahwatukee.com via RSS

RSS Feeds

Spacer4px

Most Popular

Online poll

Loading…