My friends over at 22dollars.com have posted a great article on the 25 Top 5 Smart Spending Tips for Students – How to Make Ends Meet When Youâ€™re in College. Since college students are always strapped for cash, the article is perfect for anyone who is attending, or planning to attend college anytime soon.
My favorite advice is to carefully budget the money you earn on breaks. This is a big one. I see too many friends and family who works so hard during the summer to make enough money to last another semester or year, but then they fail to plan ahead. Perhaps it’s the false sense of security that comes with seeing big numbers in your bank account, but too many students feel that the money earned during the break will last them an entire year. So if I were to add my 2 cents to the discussion, I would recommend sitting down BEFORE the break and calculate how much you’ll need for the next year – so you know how much you need to work. Then at the end of the break sit down again and budget out how much you’re going to spend. This will not only keep you from eating ramen every day, but will teach you sound personal finance habits for the rest of your life!