10 Tips for Future College Students
Take the future prepared!
Tip 1: Organizing Yourself!
It's easier to take something in in bite-sizes so to do this organize your financial life! File things away in priorities such as Bill Payments, Checking Account, Savings and Investments, College, etc. Place things in importance. What would you forget easily? Will you need to find this later? Is the payment for this coming up?
Knowing what you need to do is the best way to getting a hold on doing it.
Tip 2: Loans aren't your Friend
Loans by definition is something borrowed and if money then it is payed back with interest. The money might come in handy at the moment, but while it piles up you will have to pay it back later with a little extra on top.
Tip 3: Understand Student Loans
If you do use loans, then it is best to understand what they are. If you don't pay back your loan, then your credit record will get hurt. Government loans tend to have a smaller interest rate than private loans. There are situations where a loan will be forgiven, but that will require further research.
Tip 4: Career Preparation
Working while in college doesn't hurt if you get experience out of it, but if you don't then the best thing to do is to prepare for you first job. Go to career fairs. Get as much experience you can in an interviewing environment. Career centers are always a great place to start and to get answers. Keep your resume ready and updated. Research about your desired job and see if internships are available. Take into account of payment and taxes; they also judge on what your job will be. Look through retirement plans, health insurance, and other perks of adulthood and/or your future job. While these things seem far off it is always best to know what you're getting into.
Tip 5: Computers - To Own or Not to Own?
With today's way of learning it is obviously that students need computers, but as we all know those don't come by cheap. So if you don't have a computer of your own weighing the options of buying one or not may be something to consider. If you don't get one, you could simply use one on campus. But is the one on campus easy to get to? Will you be able to get to one during study periods? And if you buy a computer of your own you will have to consider what model and the kind of software it will need. Will you be able to pay for repair costs and maintenance? How often will you even use the computer? These are all variables to consider.
Tip 6: Apartment or Dorm?
Pepsi or Cola? Apartment or Dorm? If you live in an apartment, then you must consider the rent, insurance, utilities, furniture, kitchen equipment, and many more. The money needed to pay for all of said above, and whether or not you would want a roommate. Plus you will be more than likely driving to campus and that will cost money and time.
Tip 7: Rent
If you do get an apartment, then rent payment will be a huge priority. Paying the rent late not will cause strains in your credit score. If you are really tight on money, talk to the landlord hopefully they will be able to help you.
Tip 8: Take Advantage of Student Discounts
Your student ID will become rather handy when getting around town. If the place offers a discount because you go to college, don't forget your ID at home! Saving money even in little amounts can go a long way.
Tip 9: Create a Budget
Although it is a pain to make it will honestly help you in the long run. Knowing where your money should go and being self aware will always give rewards in the end so keep a budget to prevent misconceptions, unanswered questions, and unnecessary stress.
Tip 10: Build Good Credit
Pay everything on time, pay your loans before spending more money, apply credit for only the things you need, don't bounce your checks. Just the simplest of things can keep you safe from a bad credit score. You don't want to earn a bad credit score just because of a few of stupid mistakes that could be prevented with knowledge.