This blog post is sponsored by Regions Bank and all opinions are 100% mine. At Regions Bank, they are always looking to bring you new and innovative financial solutions.
College is a whole new time and experience for young adults. Between going to a whole new school, you may be living on your own, starting your first job, managing money on your own for the first time, and so on. This can be a scary thing, but it is very possible to do it correctly!
Regions has insights and advice on back-to-school budgeting and savings for college and graduate students just starting to figure out the financial lifestyle that best suits them. Related readings that I recommend you check out:
- Saving Money While In College
- How to Budget for Daily College Life
- How to Prepare for Hidden College Expenses
Here are my tips for ways to manage your money better as a college student.
Create a budget.
The average family carries a lot of financial stress. Most people have student loans, credit card debt, a mortgage, car loans, and sometimes other forms of debt. However, not many people have a budget.
According to a survey done by Gallup, 68% of households in the U.S. do not prepare a budget.
Budgeting can help you take control of your financial life, which can help reduce stress and let you reach your dreams.
Watch the amount of student loans you take out.
If you need to take out student loans in order to go to college, you should always be careful. Please, please remember that you will need to pay these back one day, plus interest. And all of that can add up fairly quickly.
No one wants to be paying for their student loans decades after they graduate from college, or to still be paying for their college tuition when their own children finally head to college.
So, watch the amount that you take out today for college so that you don't have to stress about it later.
Make more money.
Here at Making Sense of Cents, I discuss extra income, side hustles, side income, and how to make money online a lot. I believe that earning extra income can completely change your life in a positive way. You can stop living paycheck to paycheck, pay off your debt, and more all by earning extra money.
In fact, because of extra income and my blog, I was able to pay off $38,000 in student loans within 7 months, I was able to leave my day job in order to pursue my passion, travel full-time, and more!
Everyone has extra time, even if you are in college. This can help you to find ways to make extra money so that you can better manage your finances in college.
Read more at Hundreds of Ways To Make Extra Money.
Start saving more money.
There are so many different ways to save money, and right now when you are just beginning to manage your money is the best time to learn about them.
Finding ways to save money will help you to manage your money better, as well as not live paycheck to paycheck or get into credit card debt.
There are many other ways to manage your money better as a college student as well. Click HERE to check out more insights about collegiate finances from Regions Bank.
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