Organized Charm: 4 Tips for Organizing Your Finances in College

Wednesday, June 17, 2015

4 Tips for Organizing Your Finances in College



Over the past few weeks, I have received FOUR requests for tips on budgeting in college! If you requested this post (or if you're just trying to get your financial life together) this post is for you! If you're feeling a little overwhelmed or underprepared to deal with finances, let me assure you that you are most definitely not alone! 

In fact, read these statistics from a recent survey of college students: 

  • 47% are concerned about their financial situation

  • 50% say that the cost of impacted their choice of college/university

  • 75% wish there was more helpful financial information available to them

  • 80% report they were unprepared and do not have a plan to pay for college

Let me tell you that in grad school, I definitely fell under each of these statistics. It was my first time paying for school by myself and there was a LOT that I had to learn in a short period of time. Here are 4 of the most helpful pieces of advice that I can give!




1 | Don't be afraid of smart debt. 

I kind of grew up being terrified of debt and assuming that it was all bad. I paid cash for everything in high school and college. My parents gave me a credit card for "emergencies" but I really only used it when I was out of cash and it was my turn to buy the next round of drinks needed something important. The word "debt" just sounds scary, doesn't it? No one wants to be in debt! 

It wasn't until I got married and saw how my husband handles his credit that my fear of "being in debt" went away. It's pretty necessary to understand and be comfortable with credit and debt in adult-world and we need to learn how to navigate our way through it confidently. Our unofficial rule is that any acquired debt should have a long term benefit. For example, 

Student Loan = College Education = Job Opportunities = Long Term Benefit = Smart Debt

Cute Dress = Gets Worn Out = Gets Given Away = Short Term Benefit = Not Smart Debt

(Side Note: College means saying "not right now" to a lot of cute dresses but that's ok because it will all pay off!)



If you're looking for student loans, check out College Ave Student LoansThey simplify the student loan process that you can spend your time preparing for your bright future! In fact, their sole focus is student loans... which means that they'll break things down and make this as simple as possible for you! 

There are several different plans and College Ave will help you find the one that's best for YOU! Not only that, they have more repayment options than anyone else, so you're sure to find one that fits your needs! 

Click here to find out more: http://www.collegeavestudentloans.com/





2 | Use an app to help you maintain your budget

There are tons of financial apps out there! My favorite is Mint because it allows you to create your own budget (and adjust it at any time). Not only that, it sends you alerts when it thinks your account balance is low, or when you've had *ahem* "high spending" in a particular category (stop judging me, Mint). I like the fact that I can link my bank accounts to it also so it gives me up-to-the minute information. 

But your bank app will also work just fine for updating you! And what if you want to apply for a student loan? Oh, there's a mobile friendly application for that, too! Just head over to the College Ave app, fill in the 4 questions it asks, and you'll get an answer in about 3 minutes! That's pretty painless, right? I bet you have 3 minutes right now! Not surprisingly, this is the fastest and easiest app in the student loan industry!





3| Set up a savings plan (and don't touch what you save!)

A plan?! Yes, please! The one I use is SO easy! Through my banking app, I set up a thing (yes, that's official term) where it automatically transfers $20 each month from my checking to savings account. That's such a small, harmless amount to part with each month, but it still adds up over time. Find an amount that works well for you. 

Once that money's in savings, pretend like it doesn't even exist! If you do this amount throughout 4 years of college, you'll graduate with $1,000! And that's enough to buy some real furniture for your first post-grad apartment, to keep stashed away as an emergency fund, or to put toward the payoff of your student loan! 

If you're curious about student loans but don't want to commit to anything yet, check out the Credit Pre-Qualification Tool & Student Loan Calculator from College Ave! This will give you an idea of what to expect if you actually get a loan (and I am all about knowing what to expect)! 

By using this simple tool, you'll have a clearer idea of your budget for the school year and make better money-saving choices! YAY! It also makes the whole student loan process a little easier to understand by showing you the total cost over the life of the loan and what would be the best payment plan for you! 



4| Pay as much as you can as often as you can

I never, ever, ever make minimum payments. Not on my student loans. Not on my credit card bill. Not on my phone bill. Never. Of course, paying your complete credit card balance every month is ideal and will skyrocket your credit score like crazy. But that's not always doable, especially in college. 

I try to pay a little more than what's required when it comes to credit and loans. Even just $30 more than the required amount will help you out in the future! This is what I did on every student loan payment that I made. And it made a HUGE difference on the balance over time! Additionally, if you get paid twice a month, pay as much as you can twice a month. 

I promise, it's worth skipping a Target trip for! Additionally, College Avenue gives rewards for making in-school payments! That's right, if you choose to start paying your loans while you're still in school (highly suggested), then you'll have a lower interest rate than people who wait till they graduate! And there is no penalty for paying early (a huge plus)! 

You can just get as much as you need to help pay your college expenses! College Ave covers up to 100% of school-certified expenses. But if you can pay most of your own expenses and just need $2,000 to get started, they can cover that, too! Check out the low rates, use the tools, and decide what you need to help you succeed! 





Okay! Are you ready for an Instagram contest? 

Of course you are! Head over to Instagram right now and share your college goals by using the hashtag, you guessed it, #CollegeGoals! :D

Do this anytime between NOW and June 30th and you can win prizes, including a $50 Chegg textbook credit and a $5,000 college scholarship! 

Head to Chegg for more details:  http://blog.chegg.com/collegegoals/



A huge thank you to College Ave Student Loans and Her Campus Media for partnering on this post!

28 comments:

  1. Thank you for the links, it's very interesting. I will definitely come to the site. Come to our service and tell the assistant : write my paper for me .

    ReplyDelete
    Replies
    1. Our jacket leder manis tighter-fitting, and less insulating than a coat, which is one of our best products only available at boneshia.com.

      Delete
  2. Thank you for this post. This is very interesting information for me.I know what you need is rhetorical analysis topics .

    ReplyDelete
  3. Thanks a lot for providing such important tips to arrange finance for college studies. Now I have decided to take smart debt because next semester fees are a little higher and I can't afford it. Dissertation writing services

    ReplyDelete
  4. We offer you with the most dependable and believed nursing assignment help benefits that guarantee you get A+ grades in your all semesters. We give you the assurance of offering unique and real content in the entirety of our tasks with the goal that you excel towards the academic development.

    ReplyDelete
  5. A plan?! Yes, please! The one I use is SO easy! Through my banking app. ty
    coffee wholesale supplier in UAE

    ReplyDelete
  6. Get in touch with us for your next order! We offer wholesale supply solutions and bulk sales. Call us or fill out the form to learn more.
    sex honey uae

    ReplyDelete
  7. Organizing and handling your money isn't fun, but it can be if you work with the right professional; someone you enjoy talking to when life throws you curveballs.
    We are here to provide one-stop support for any major or minor blog writing services related problems. Therefore, immediately contact us.

    ReplyDelete
  8. Being Sherwood Park, Alberta tile removal experts, have the peace of mind knowing that we do tile demotion with no damage to the wall underneath it. We do tile repair or tile removal in Edmonton at an affordable cost. You have professionals for your tile removal services Edmonton, with over 17-years of experience for client satisfaction. No job is to big or small for us to tackle whether in your home or commercial building. Bathroom and kitchen tile are installed to last.
    Backsplash Contractor Edmonton

    ReplyDelete
  9. No system can be pushed to produce beyond the limits of its current processes for a prolonged period of time.management consulting Edmonton Does your next big order exceed your production capacity? Consider process improvement before capital investment. We can help.

    ReplyDelete
  10. At Envision Eye Care, Vision Therapy (VT) uses an individualized treatment program designed to correct visual-motor and/or perceptual-cognitive deficiencies. VT is designed to enhance the brain’s ability to control: eye alignment, eye teaming, eye focusing abilities, eye movements, and/or visual processing. Visual-motor skills and endurance are developed through the use of specialized computer and optical devices, including therapeutic lenses, prisms, and filters. During the final stages of therapy, the patient’s newly acquired visual skills are reinforced and made automatic through repetition and by integration with motor and cognitive skills. VT can benefit many patients of all ages including children, adults, athletes, and individuals with traumatic brain injury. Contact us to learn more about our Vision Therapy services.
    Optometrist Edmonton

    ReplyDelete
  11. Envious Design by Brandt and Thompson Has been in service Edmonton for many years and providing exceptional quality custom stone indoors and outdoors bars. We are expert in providing custom stone indoors; whether you need to upgrade your current, fireplace or you would like to add a new one we got you covers. With wide range of natural stones, we can give you a desired solution, which is built to last longer.
    indoor Bars in Edmonton

    ReplyDelete
  12. A jacket is a garment for the upper body, usually extending below the hips. Our mens quilted leather bomber jackettypically has extraordinary leather material, only available exclusively on topcelebsjakets.com.

    ReplyDelete
  13. If you are interested in repairing scratches on the car, fixing a blow to the sheet metal or removing a dent, or if your vehicle has suffered more severe damage, you can visit ALSA Automotive in Abu Dhabi for the maintenance and repair of the body of your car. We repair any damage to the bodywork effectively whatever the severity.
    body repair equipments abu dhabi

    ReplyDelete
  14. trend of celebrity jacket is the best for winter season and if you are looking for the celebrity and fashion leather jackets, so you are at the right place where you can get best leather jackets. buy now with the best offers.
    womens leather clothing coats jackets

    ReplyDelete
  15. If you love wine and T-shirts, then join the Wine Snob Shirt Club! Each month, you will receive a special T-shirt from a unique winery, along with club pricing on wine & other products. All this for just $29
    Holiday trees

    ReplyDelete
  16. Thanks for telling us how to manage our financial situation in college. Your tips are so true and appliable to all college and university students. I am finishing my assignments with the help of an online company that provides law essay writing service, Their cost is ineffective for a student's budget. Their service is too fast and has a quick response team.

    ReplyDelete
  17. We are idea generators, goal-oriented professionals, challenge-seeking professionals, and producers of one-of-a-kind Internet ventures. We provide solutions that are unique. dissertation help UK

    ReplyDelete
  18. If you are a college student and looking for some best assignment writing service, you can contact us for instant help.

    ReplyDelete
  19. The majority of companies, businesses, and retailers have shifted their businesses online therefore they have incorporated the best onlinepos software
    to control and manage their billings and payments.

    ReplyDelete
  20. This article is very interesting giving much knowledge. I want to introduce you Prime Writing who is thebest essay writing service provider in UK

    ReplyDelete
  21. Are you looking for a company to help you accomplish your objectives? Since so many years ago, Assignment Max has been assisting students all over the world. Our professionals gain more self-assurance every time they help pupils with their problems. Here, students may use the most reliable and online assignment writing services.

    ReplyDelete
  22. This post is very helpful for the students its really well described, but I want to add my point for that students who are going towards the technological world, Guys ! we all know that the world is moving too fast to the technological zone so the students can make the money by using web 3.0 so if you are looking for the Web 3.0 Consulting Service do contact Frequenc.com the world leading agency

    ReplyDelete
  23. Identify areas where you can cut back on discretionary spending. During do my examperiods, consider reducing expenses related to entertainment, dining out, or non-essential purchases.

    ReplyDelete
  24. radha krishna tanjore painting - "I always look forward to your posts. You have a talent for making complex topics easy to understand and engaging!

    ReplyDelete
  25. best ortho in chennai - I really enjoyed reading this! Your writing style is engaging and made the topic so relatable.

    ReplyDelete
  26. 3 bhk interior designs - I really enjoyed reading this! The way you explained [topic] was clear and engaging. Keep up the great work!

    ReplyDelete
  27. indoor play area near me - I love how you broke down complex ideas into such clear and digestible points. This is one of the best posts I've read on this subject!

    ReplyDelete

Related Posts Plugin for WordPress, Blogger...
Related Posts Plugin for WordPress, Blogger...