Money Management Tips For College Students

Top 10 Money Management Tips for College StudentsCredit: Free Stock Photos


Money Management For College Students

College students need help managing their money. When I was in college, I remember thinking nothing about money.

Everything I did was based on school and having fun.

I never considered my financial decisions and how they would affect my future. Plus, college was full of opportunities for me to get in trouble with credit cards.

Everywhere I went there was credit card offers. They made it so easy to get one. Also, the incentives they offered to simply fill out a small form was too easy.

When I started college, I signed up for 3 different credit cards and received them all.

I used each one and got in so much trouble financially. I didn't have any clue what I was doing. Also, my grandmother had given me money for my first semester.

Because of this, I had thought that I could afford things and not worry about what I did with the money.

Needless to say, I got into a lot of trouble and ended up with charge off's on my credit report.

It took me a long time to get rid of the charge off's and clear up my credit report. If I could have gone back and stopped myself from getting those credit cards.

I wanted to write something that would help parents and college students with money management so they can avoid the problems that I had.

Here Are 10 Money Management Tips For College Students

  1. Set A Budget - Set up a budget that clearly defines what money will be spent.
  2. Get A Job - It is important to have some money coming in even if it is a part-time job.
  3. Start A Savings Account - This will teach about saving.
  4. Get A Prepaid Credit Card - A prepaid credit card is a great way to build credit and not worry about getting in debt.
  5. Start A Meal Plan - It is important to have a meal plan in college if you are not already on it.
  6. Report Back To Home - This is a good way to keep tabs on how you are your college student is doing.
  7. Keep A Financial Statement - Learning how to keep a financial statement will further your financial future.
  8. Take A Financial Course - I like this one the a lot. College is about learning and why not use the college you are going to learn about finance.
  9. Start An Investment Account - Starting an investment account now will help you learn how to not be scared of investing.
  10. Start A Money Management Club - It is best to get around people who are doing the same thing you are.

I hope these help. If you have any suggestions, please put them in the comments below.