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College is an exciting time, but it can also be very expensive for a few years. Along with having to worry about paying off ever-rising tuition fees, students also need to consider how they are going to afford their rent, purchase textbooks and meet their regular expenses, all whilst being able to afford at least a little bit of a social life. So, before you head off to college, it’s important that you have a good plan in place for your finances. Even if you’re lucky enough to have parents who can afford to spare you some money to help out, or are working a part-time job, managing your money well at college will help you keep your stress levels low and in turn, you won’t be as hindered when it comes to getting good grades. Here are some financial management tips that every student should consider.
Tip #1. Study Online
Today, studying online is becoming almost as popular as studying on campus. For many students, especially those who are working full-time, moms and dads, and students who want to get out and travel, the option to study online is extremely valuable. However, even if you want to study on campus and experience the ‘student life’ by making friends and socializing too, there is often the option to take some classes online to help to drive down the total cost of your college tuition. There are many options when it comes to remote and long-distance learning, such as this online civil engineering degree.
Tip #2. Use Your Student Discount
One of the best things about being a student when it comes to money is that students are eligible for a discount in many stores, both online and offline. In fact, there are websites that you can join which will help you find the best deals for students, no matter what you’re shopping for! Whether you need to upgrade your wardrobe for a new job interview or purchase a new laptop to help with your Master’s Degree in civil engineering, don’t part with your money until you’ve found the best student discount available for your needs. If you’re not sure whether a student discount is available, then ask! Many stores offer money off for students, even if it is not clearly advertised.
Tip #3. Plan Ahead
When it comes to managing your finances as a student, things can often get a bit erratic. Many students will work part-time to supplement their income. However, when you’re dealing with assignment deadlines and revising for finals, it can be difficult to work out exactly how many shifts you’re going to be able to work and your income could be different each month. Because of this, planning ahead is essential to ensure that you don’t run out of money. Each week or month, work out a budget depending on how much money you will have to spend. If possible, try and save – even $5 or $10 each week will add up over the year. You can use this money during finals and other times when it’s difficult to fit work around all the studying.
Did these tips help? Let us know in the comments.