Many college students work hard all summer in hopes of making it through the year on their summer savings. We complied some tips that might help stretch those hard-earned dollars:
- Look for deals. Many colleges offer free or inexpensive activities on campus.
- Milk your student status. Shop at businesses that offer student discounts. Don’t forget to take your school ID with you.
- Buy and sell used books. Look online or check with the University Bookstore to buy used textbooks. Sell your books back at the end of the semester to score extra cash!
- Cut back on the fast food trips. Limit the times you eat out monthly. Trips to Amigos can really take a toll on your bank account.
- Save on gas. Walk, bike, or use public transportation when you can.
- Make your own coffee. Those $5 lattes can really add up. Invest in your own simple coffee maker.
- Skip the gym membership. Take advantage of the campus gym or join intramural sports.
Regardless of your financial situation it is good to know where your money goes. When you track your expenses you might be surprised! First you need to understand not only how much you currently have but also what you may earn during the school year. You should then figure out what you spend your money on. From there you may have to resign yourself to living like a college student and hopefully not spend more money than you have. Living like a student now and following a budget will place you in a better financial situation when you graduate. Along the way we recommend that you do not abuse credit cards and only charge what you can truly afford to pay off each month. Avoid overusing your credit card by dedicating one thing that you can use it for such as gas or groceries in order to maintain growth of your credit. Not using your credit card can hurt your credit score! If you may be tempted to overuse, leave the credit card at home and take only the cash you can afford to spend.
Keep those hard-earned dollars safe! We are happy to help you open an account if you do not have a UBT account. Through UBTgo BillPay, you can pay your bills on time, every time. You are in the early stages of building a positive credit score. Missed payments can knock your score down! We can also help you pay your tuition online through MyRed. Stop in to the branch in the City Campus Union. We are happy to help!