As we grow older and as we step up into the new world, our responsibilities also increase. Back in high school our mom used to do a lot of it. But then entering into college there are additional loads that you will need to handle since its part of growing up, you have now aged and its time to learn things on your own. Among the list of those tasks is the handling of your own finances, so here’s some advice on How to Survive Financially In Your Freshman Year.
Below we have some useful tips on how a freshman like you should take better management of your finances so that you can not only survive your Freshman year, but also enjoy it.
Get A Part time Job
Getting a part-time job will not only give you added experience, it will also give you that little bit of extra independence. It is very powerful to know that you are paying your own way for some things, no longer relying on your parents or others. So even if you don’t really need the money, getting yourself a part-time job, as long as it doesn’t impact on your studies, can be a wonderful experience and set you up for life.
DO NOT get a credit card
Only spend the money you have, you will find yourself overspending if you are putting everything on credit. Take on the policy, that if it’s over $100 then you must sleep on it before buying it. This way you will have the time to decide whether you really need it or whether it’s just an impulse buy! Instead save up the cash in a debit or savings account for any emergencies that may happen.
Prioritize Important things
If there are number of things that you need, write them down and prioritize them. You might need to spread your purchases out over a number of months so prioritizing will mean that you get the most important stuff first. You might also find that you no longer need the least important things and therefore save yourself money.
Bargain Hunt! Hunt down the Sales
If you’re looking for stuff that that you badly needed and you run out of budget, try to locate sales in your neighborhood and take a look at them. Maybe you might see useful things that cost you less. Watch out for the big sales, such as Black Friday and End of Financial Year. Forward planning can help when shopping at the sales, if you know that your are going to need something later in the year and it’s in the sales, picking it up now could save you dollars later.
Limit gimmicks or out of Town trips
As a freshman there would be a lot of activities conducted by your organization or society. You may have choose those trips that best suit you, going on end of semester road trips can be expensive. You might have to limit yourself to one per year or every second year so that you are not wasting to much money on these extra-curricular activities.
Being a freshman means a lot of fun and excitement. But remember, you’re at college to study and learn so let this be the focus and try and limit your extra-curricular activities to those that don’t interrupt your study.