Summer Is Winding Up And It'S Time For The Kids To Go Back

Decent Essays

Summer is winding up and it 's time for the kids to go back to school. All over the country, another back-to-school ritual is taking place. College students are moving into dorm rooms and about to experience their first taste of freedom and college life. Along with experiencing college for the first time, many new students struggle with managing their finances on their own for the first time. Unfortunately, if they are not careful, they could easily mismanage their finances and end up creating big problems for their later lives. Here 's some tips for how your college student can save money: Make a Plan Obviously cash flow can be a problem for many students. It 's important to come up with a budge and spending plan. If you can do this …show more content…

Get in the habit of asking about student discounts wherever you shop. If you live in a college town, you 'll quickly get to know the places that honor your student ID card and will give you a better deal. Some places even offer a frequent buyer card in addition to regular discounts. If you can get free sandwich after you buy four or even a free cup of coffee every once in awhile, you can save some money there, too. Don 't forget that you can get big discounts on high-ticket items like computers and software with your student discount. Microsoft, for example, offers discounts of several hundred dollars on student versions of popular software like Windows and Office. Use Cash Whenever Possible If you 've created an effective budget, then you should be able to use cash for most of your purchases. This will help you avoid impulse purchases and allow you to monitor your cash flow better. Leave your debit card behind (but keep a credit card or checkbook just for emergencies) and just have cash for whatever you need. The more cash you have on hand - or the more access to credit - may lead you to overspend. Practice discipline when it comes to spending. Stay Busy Some people have a natural tendency to shop when they are bored. It could be a trip to the mall or extra spending on entertainment like movies or snacks. To combat this effect, stay as busy as possible. Devote time to your

Get Access