25 Financial Tips for College students

Recently I came across an article by Demetria Gallegos that offered a wealth of financial guidance specifically tailored for college students. As many of us know college often marks our venture into managing our own finances, which can be quite overwhelming. Here are some valuable insights I gathered from the article;

1. Check ins; Jim Curran from Plymouth Massachusetts suggests dedicating 15 to 30 minutes each week to review all sources of income and expenses. This practice helps us understand our spending patterns and eventually develop a budget.

2. Emphasis on Education; According to Donald Davis it is crucial for every student to take a finance course regardless of their chosen major.

3. Importance of Part Time Jobs; JC Biaggio stresses the significance of engaging in part time work while studying. Not does it supplement income but it also teaches students to appreciate their earnings.

4. Establishing Expectations; to Joanne Jakubowskis advice some parents set performance and communication expectations as conditions for funding their childs tuition and living expenses.

5. Utilizing Digital Tools; Michael W. Esser suggests using platforms like Mint or Google Pay as tools, in tracking ones finances effectively.

6. Cultivating a Saving Habit; Carlos Gomez emphasizes the importance of saving money even if it is just a small amount regularly contributed towards long term financial benefits.

7. Jennifer Seitz cautions students about being mindful of their spending habits. Advises them to prioritize essential needs over unnecessary wants.

8. Tim Covey suggests exercising restraint when making purchases over $50 by taking a day to think it through thus avoiding buying.

9. Jim Masone discourages students from relying on loans for living expenses and entertainment while David Ginsberg emphasizes the importance of using credit cards responsibly.

10. Conrado Petrov recommends reading "Rich Dad, Poor Dad" by Robert Kiyosaki to gain an understanding of the distinction between assets and liabilities.

11. Cathy Pitfield advises setting aside money for trips or emergencies emphasizing the importance of being prepared for unforeseen circumstances.

12. Andrew Gannon shares that living off campus can often be a cost effective option compared to student apartments.

13. Robert Franz believes that understanding the concept of compound interest is crucial in making investment decisions.

14. Louis Verardo humorously suggests purchasing perishable food items in bulk not only as a means of saving money but also as an unconventional solution for makeshift furniture among students!

15. Lastly it's important to maintain a balance, throughout college life – a time dedicated to learning, personal growth and yes even learning from missteps.

However as a wise individual pointed out it's important to remember to enjoy oneself while acquiring the skills for adulthood.

For those who're curious, about delving deeper into the subject matter I highly recommend reading the original article here.