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

Movies in a Minute: 'Jason Bourne'

Do you realize it’s been nine years since the last “Jason Bourne” movie? As a fan of the franchise, I have to say I’m disappointed in this one…

Published: July 29, 2016 - 11:43 pm @ http://ktar.com/story/1201697/movies-in-a-minute-j…

Phoenix Planning for a New Approach to its Urban Forest

A city famous for tall palm trees wants to find some shade.William Yardley reports on an ongoing planning effort in Phoenix to cultivate a tre…

Published: July 29, 2016 - 11:12 pm @ http://www.planetizen.com/node/87654/phoenix-plann…

From Arizona to Montana, Native Voters Struggle for Democracy

The Navajo Election Administration in the Chinle Agency. (Aura Bogado) Leonard Gorman is a man of maps. He heads the Navajo Nation’s Human Rig…

Published: July 29, 2016 - 8:43 pm @ https://www.thenation.com/article/arizona-montana-…

Infographic: International Tiger Day 2016: Tiger facts you need to know

STEPS FOR DISABLING AD BLOCKERDriving in Canada Canada - a home away from home Canada, it's time to change! Living with a disability in Indo-C…

Published: July 29, 2016 - 8:18 pm @ http://timesofindia.indiatimes.com/world/rest-of-w…

#WeMadeHistory

By Victoria A. Brownworth The tension built over the course of an hour. At the Democratic National Convention in Philadelphia, the ceremonial …

Published: July 29, 2016 - 7:42 pm @ http://www.curvemag.com/News/WeMadeHistory-1368/

VP nominee Mike Pence to appear in Phoenix, Tucson Tuesday

TUCSON, AZ - Indiana Gov. and Donald Trump's vice presidential nominee, Mike Pence, is scheduled to appear in both Phoenix and Tucson Tuesday …

Published: July 29, 2016 - 7:17 pm @ http://www.abc15.com/news/region-central-southern-…

Libs at DNC Call GOP Racist; Here's The Historical Facts

Back in 1857, in a landmark decision, a Supreme Court packed with Democrats determined that not only was Dred Scott not a citizen, not only th…

Published: July 29, 2016 - 6:12 pm @ http://www.thefederalistpapers.org/us/libs-at-dnc-…

8 Instagrammers to Follow As Your Kids Grow Up

When Will was born, I picked up a book called 100 Places to Take Your Kids Before They Grow Up. For a few months, I flipped through all the id…

Published: July 29, 2016 - 5:39 pm @ http://solomomtakesflight.com/blog/8-instagrammers…

Online Archive Documents Destruction of Ancient Sites

Print Irreplaceable Art Objects Will Get Virtual Backup Copies Russian Orchestra Plays at Ancient Syrian City of Palmyra Damage to mosques, a …

Published: July 29, 2016 - 5:41 pm @ http://www.voanews.com/content/online-archive-docu…

Turkey shuts down dozens of media organisations

STEPS FOR DISABLING AD BLOCKERDriving in Canada Canada - a home away from home Canada, it's time to change! Living with a disability in Indo-C…

Published: July 29, 2016 - 5:16 pm @ http://timesofindia.indiatimes.com/world/middle-ea…

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…