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How To Handle Your Finances as a College Student

College & University

The current economic status of the country means that people across the length and breadth of the country are being forced to tighten their proverbial belts, but this should by no means result in someone who wants to further their academic education being unable to proceed.

Unfortunately, there are a large number of people who simply cannot afford to attend college, especially for three years on a full-time basis, but if you are one of the lucky ones who is set to start this September, then you need to make sure you are on top of your finances.

So, with this in mind, continue reading for some top tips and techniques on how to handle your finances as a college student.

Stay On Top of Your Debts

Aside from any debt you have acquired when being awarded a place at college, there is also good reason to keep an eye on other debts associated with your move to campus or else off-campus accommodation.

From car payments and credit card debt to store cards and even student discount cards, make sure you keep either an electronic copy of all the monies you owe or else a detailed chart in a safe place at home and be sure to regularly update it as and when necessary.

Student Financial Plan

Download Dedicated Student Finance Apps

Another decidedly modern way of keeping track of your finances as a college student is to download budgeting tools that are specifically designed for students, such as ‘You Need a Budget’ and ‘Mint.’

The beauty of having your finances loaded into such an app is that there is no way you can ignore any financial issues, and you can easily check up on your financial progress with the tap of your finger anytime and anywhere.

Furthermore, the University of Houston GPA requirements at CampusReel will not only allow you to see your chances of being accepted with your current projected high school grades but also provide you with the knowledge surrounding how much money you will need each semester.

Embrace the World of Second-Hand

Error! Hyperlink reference not valid. and trading websites, such as eBay, Facebook Marketplace, Vinted, and Amazon Marketplace are fantastic ways of getting the textbooks and other college supplies you need at a fraction of the cost of buying them new.

What is more, any older textbooks which you used for a specific module or during one semester of your studies can be sold on such websites to make enough money to buy the next set of reference books required.

Always Overestimate the Variables

Finally, when it comes to estimating how much money you will need to live for each semester, it is extremely sensible to overestimate and ‘round up’ what you think you will need.

This way, not only are you guaranteed to know exactly how much you will need for essentials such as food and transport, but you will also more than likely end up with an extra, however small, sum of money at the end of the semester, which you can transfer as a back-up amount for the start of the next.