Make the Grade with College Spending
You are going to be learning a lot of lessons when you start college in the fall. One lesson that tends to fall to the wayside is money, which is usually because, for so long, your parents were in charge of your finances. However, now it is your turn to take the reins. Stay on track when it comes to your finances by preparing now before heading to campus.
First Things First
You have probably heard the term “budget” used many times within your family home, but never gave it much thought. Yet, this is one of the most vital things that needs to be prepared so that your finances do not spiral out of control.
Sit down today to create a budget for your upcoming college year. Take into account everything your money will go to this fall, such as books, food, possibly rent if you are not staying in a dorm, gas, personal care items (i.e., shampoo, laundry detergent, etc.), school fees, etc. After this document is created, the next important thing to do is stick to it!
It is not realistic to head off to college and not have fun. But, you do not want to abuse a credit card and get into debt in order to do so. While you need to separate your wants and needs within your budget, and always take care of your needs first, make some room in your budget for fun, too!
Also, be sure to shop around where you can, too! There are usually discounts in a college town for students. Take advantage of those. Also, check out used bookstores, or even go online, when purchasing school books, instead of heading straight to the college bookstore where they usually cost more.
Before you head off to college in the fall, be sure to stop by our office so that one of our knowledgeable and friendly associates can help you set up both a checking and personal savings account, as well as obtain a St. Johns Bank MasterCard, to ensure you have your financial needs met before school starts.