Financial College Tips

15 Tips to know before college

#1 know the ground rules

Understand your limitations and expectations with your parent or guardian.

#2 protect your personal information

Use a paper shredder to dispose of important papers, make sure your computer has programs to protect you from spyware and viruses. Delete emails with personal information.

#3 dont bounce checks

Review your checking account statements each month, bouncing checks will hurt your credit history.

#4 watch out for scholarship scams

Legitimate scholarships do not charge fees and have application information available to anyone.

#5 use loans as a last resort

Interest rates have you paying much more than what you asked for.

#6 submit a new FAFSA each year

Apply for federal financial aid and renew your application each year.

#7 look for a job on campus

On campus jobs are often more flexible to student schedules.

#8 choose the meal plan that works for you

Start on a limited plan, if you are hungry most of your time then switch to an unlimited meal plan.

#9 save on snacks

avoid vending machines and convenience stores. Buy storable snacks in mass and keep them in your dorm or apartment.

#10 compare apartment costs to dorm room costs

Off campus may be better for you, but will have many more bills, including transportation.

#11 take advantage of student discounts

Ask about discounts far in advance to save money.

#12 take control of your credit card

Keep ONLY ONE major credit card. Know the fees you will be charged and do not just pay the minimum payments.

#13 get into the savings habit

When you save and invest, your money will work to grow for you.

#14 talk to roomates about money issues

Roommates can be a huge advantage, start a friendship and they can come in handy.

#15 Net worth is not the same as self-worth

Do not stress about money all the time, money is not everything. Enjoy your college experience.