As a college freshman, you are about to embark on an exciting and new adventure of college life. This great experience requires new responsibilities. So, here are 5 Financial Tips for College Freshmen.
Protect Your Credit Cookies!
One of the most precious and valuable assets that you will have in your life is “Good Credit.” Your credit history and credit score will either make it easier for harder for you to get what you need or want, like your first apartment, your first car, your own cell phone account, etc. So don’t just let anyone look at your credit, regardless of the minuscule discount or cheap give away gift you’re offered. Also, avoid getting loans that you will not be able to afford to pay.
Used Text Books are the BEST!!! Trust me. Not only are they more cost effective and less expensive than new text books, but you might get lucky and get a text book with highlighted information by students who previously took the class.
Be a Financial Techy
Don’t just use technology for Social Networking. Use it to help you manage your bank accounts to avoid unnecessary and excessive fees. Set up online banking and account balance alerts to text or email you when your account balances reaches a certain dollar amount. This will not only help you stay on target with budget, it will also help you avoid those pesky overdraft fees.
Be a Coupon King or Queen
Don’t be the one that eats ramen noodles all semester. Master the art of virtual couponing. Websites like Groupon.com offer deals on dining out and other services that can help you maintain your budget. You can also take those unused gift cards you don’t want and trade them for cash on sites like Raise.com.
Also get a grocery store discount card to add coupons to it through their website.
Saving is Sexy!
Being broke or begging for money is not Hot! But … Saving is Sexy! Make sure you set aside at least 10% of your income from your job, money from parents, or monetary gifts and put it in a savings account for emergencies or for monthly splurging. Saving early ensure financial security later.
By following these five easy tips you will be the envy of your broke friends! Best wishes.