Being a student these days is not always easy, especially when it comes to financces. As a student its really easy to fall behind financially. As the school year progresses it gets even harder to keep up with all the expenses. Working through university is not an easy task, and I for one never seem to break even. In the past first few years of school, I have had to take out bad credit pay day loans to help me cover all of my monthly expenses. Although not entirely proud of it, I have come to appreciate the fact that I have had the chance to take out a loan like this to help me out. Now being in my final year of school, I have come up with a system and budgeting plan that has helped me cover all of my expenses and leave me with extra money to spend, so I wanted to share my simple tips with you in the hopes that you too can find a way to stretch your money and live a comfortable student life.
A lot of students get financial aid these days, even when parent's can afford to help pay for some of their expenses. One thing that tends to occur when students get their loans is that they get excited and want to buy things for their apartments or tend to overspend without a true plan or budget. This leads me to my first tip.
Make a budget
Managing your money is one of the most important things you can do. So many students fail to plan for the semester because they are too busy with classes and work. If you are relying solely on student loans to get you through the semester, than a solid budget is going to be essential in keeping you on target. Creating a budget is very simple. Figure out what your main expenses are rent, food, gas etc, and come up with a daily or weekly amount that you can spend on those things.
Get a part time job
Extra money is always needed, no matter how busy you are if you prioritize your time well, you can squeeze in a day or two of work for some extra cash. A job will help you to pay for extras or maybe just help you make it by without a squeeze.
Avoid credit cards
Credit cards are surely the number one way to get yourself in financial trouble. Don't get a credit card unless it is completely necessary. Most times students will use credit cards for things that are unneeded and unrelated to education purposes. Not getting a credit card is probably the only way to avoid the temptation of not over spending.
Pay your bills on time
Seems pretty straight forward, but you wouldn't believe how easy it is to get side tracked and forget a due date. Organization is key here. Keep a calendar and mark all of your due dates, or even better have bills come automatically out of your account on a monthly basis.
These easy tips will surely help you through the school year if you follow them. Remember that it takes hard work and determination to take control of your life and your finances.