For the college student, establishing (at least some) financial independence from your parents is a great first step. We recommend:
- Budgeting 101 for College Students: devise a tactical plan for your financial well-being. We’ll give you some tips on how to live within that budget, and a sample monthly budget spreadsheet that you can download and tailor for yourself.
- Opening a Checking Account: to safe-keep the hard-earned money you earned from your summer jobs. Your father’s brick and mortar bank is a financial relic of the past. We recommend a bank that offers free access to your cash at any ATM world wide.
- Best Online Savings Account: for those of you with decent sum of money, we recommend a savings account that pays 1.25% APR/interest.
- Applying for a Credit Card: so you can buy text books, school supplies, pizza and other essentials for college life. The intent is not to carry a balance, rather to use it as an alternative to cash, so you can earn points towards a cash rebate or miles/points towards free travel, and build your credit history.
How to get the most of limited college budget:
- Buying Open-Box Merchandise at Best Buy: to get the best value for your computer and electronics needs.
The Big Picture
College is a great place to expand your horizons and be inspired. Why not take some time to set some lifetime goals for yourself while you’re thinking the big thoughts?
- Setting Goals: make a list of goals, figure out why it’s important to you, and identify the first steps in achieving your goals to so you can closer to achieving your goals today.
When you get closer to graduation, take a look at our articles geared towards starting a career.
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