1. Money Management Tips from College Students

2. Tips about Budgeting Set and stick to a budget Set a daily, weekly, or monthly limit for each type of expense Pay attention to your spending so you don’t exceed your limit

3. Tips about Cash Only carry a small amount of cash – A little is better than none (just in case) – If you don’t have it, you can’t spend it Use cash for non-essential purchases – May help curb your spending – It’s easier to tell when you’ve reached your spending limit – because your wallet is empty

4. Tips about Credit Cards Consider whether you really need a credit card, and don’t get one if you don’t need it Use your credit card cautiously – Only for emergencies – Only for pre-determined expenses – Leave it locked up at home during non-essential shopping trips

5. Tips about Working Work during the summer and winter breaks to save money for the school year Get a part-time job during the school year, especially an on-campus job

6. Tips about Saving Money Take advantage of opportunities to save money – Find out if there’s a discount for college students and carry your college ID with you – Look for coupons, freebies, promotions, and other bargains online, in your college newspaper, etc. – Buy things when they’re on sale Buy school supplies somewhere besides the campus bookstore – It’s easy to overspend on non-essentials at the bookstore – You don’t need all your supplies to have the university logo, and supplies without it may be less expensive

7. Tips about Saving Money Save on transportation costs by using the campus transit system Use your meal plan wisely – Save money on food by eating on campus using your meal plan – Only eat out (off campus) as an occasional treat – Buy snacks in larger quantities instead of one at a time on campus

8. Tips about Banking Keep a reserve of savings that you don’t touch and add to it whenever possible Check your bank balance regularly Be cautious about “banking” amongst friends

9. Tips about Financial Aid Apply for financial aid even if you’re not sure whether you will take it Stay well-informed about your financial aid package. You should always know: – How much you’re receiving/borrowing – Where the money is coming from – The terms and conditions of the contract (e.g., minimum GPA, use of funds, interest rate, etc.)

10. Tips about Making Financial Choices Practice delayed gratification Avoid temptation Discern between your “wants” and your “needs” and choose your expenditures wisely

11. Final Thoughts: Money Management Advice from College Students It’s very easy to waste money, and you’ll go through it faster than you expect.

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