Personal Finance: 40 Tips Project
The Helpful Tips for a Person Moving into the Future
Do you want to be prepared and financially stable in college? If so, follow these helpful financial tips and you could live a more stress-free life during your college years and beyond!
Smart Money Managing=Financial Success!
Tip #1: Take Charge of YOUR Life and Money; Don't Let Anyone Else (peers) take Charge
- Define your financial goals (SMART goals)
- Create ways to meet these goals
- Enact these plans until your goals become a reality
While you are trying to achieve you financial goals, there maybe road bumps in the way. This can include distractions from your peers, causing your money to go somewhere that you don't want it to. In college and with friends, there will arise many opportunities for your money to be spent. Some of your friends may be lucky enough to have money to spend but if you feel pressured, cannot afford to do something, or simply don't want to because it might upset your financial or long term plans, don't be afraid to say "No, I can't. ". Remember that YOU are the controller of your money; if you don't want to or can't do something that your peers are, you don't have to. Resisting peer pressure now may have its benefits late on when you are able to achieve your financial goals.
**Two tips in one
Tip #2 : Set Ground Rules regarding Money (while knowing and obeying the ground rules already set by your guardians)
**Two tips in one
Tip #3 : Get Organized
Tip #: Learn about your Options
Tip #5: Create a Budget and Stick To it
Tip # :Use Loans as a Last Resort
Tip #7 : Get into Saving Habits
Tip #1:Separate Wants from Needs
Tip #9 :Pay YOURSELF First
Tip # : Find ways to cut out extra payments and save money
1) Take advantage of Student Discounts
As a college student, you will receive special offers and discounts. So while you have them, why not use them?! Going out, opening a student account, or getting healthcare may be cheaper just for being enrolled at a college. Just a show of your student I.D. might save you money here and there.
2) Understand and Always look for Financial Aid
Financial Aid can be various forms: loans, scholarships, grants, etc. By knowing which one you are being offered, you will know what restrictions, conditions, and limitations exist with it so that you do not make mistakes with it that may result in you loosing the aid or require you to pay penalty charges. And if possible, receiving more than one form of aid or getting a better form may help you later on so even if you already have help, you don't have to stop looking. You can receive aid all of your years in college. There may be other aides just waiting to be found by you out there.
3)Pay your rent on Time
If you live somewhere where you have to pay separately, make sure that you pay on time. As a young adult now, you are responsible to paying for what you said you will. If you don't, there are almost always consequences. Expect these consequences in some way, shape, or form. Unless there are unavoidable circumstances, the landlord will likely lay some penalty. If you are lucky enough you may be able to strike a deal with the landlord but don't rely on this every time you have to pay.