How to Save Your Pennies During College

Posted on 03. Oct, 2007 by in Saving & Investing

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 You’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!

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4 Responses to “How to Save Your Pennies During College”

  1. Katherine Binsack

    04. Oct, 2007

    Jason – Glad you enjoyed the article! I definitely agree with your advice. Trying to figure out your expenses ahead of time will help you proactively make some good decisions and will ultimately give you more control over your financial situation. Thanks for reading!

  2. Sam

    06. Oct, 2007

    Great article! Thanks for sharing.

  3. Devin Reams

    08. Oct, 2007

    Good advice. My only amendment would be to make sure you budget for the college-to-world transition. What if it takes you 3 months to find a job? Does your job start in September and you want to travel the summer? All important to think about when saving…

  4. Jason Guthrie

    09. Oct, 2007

    Great advice Devin – some people just assume that you’ll be able to find a job within a week after graduation.

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