Money Saving Tips for students

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Home Page > Finance > Personal Finance > Money Saving Tips for students

Money Saving Tips for students

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Posted: Feb 24, 2011 |Comments: 0
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You’ve just graduated from grade twelve, and now looks forward to a college or university. For many of you this will be the first time when you are away from their parents but for a longer period of time. You’re waiting for the new-found freedom, but you also have legitimate concerns about how to price you out financially. Eventually, you will likely have only income (unless your parents are rich) is what might have been able to maintain school and student loans, which are intended to cover the costs of their bulk. So the question becomes “How do I stretch my dollars?”

First, I would highly recommend applying for any grants and scholarships may be available to you. Grant information is usually presented to you in your college calendar. Be sure to apply for any and all grants that may target students like you. A few hundred dollars here and there a few, but rather included in order to help off-set costs.

Second, hard as it may be in a room with other students, I would advise against it if at all possible house. I would like to refer to the location. Eventually it may the cheapest alternative. It is also one which will ensure that if the pickings get slim, you still always have food on your plate.
Third, maintaining a residence added benefit of cutting out transportation costs as well. If you think that the bus pass usually costs in excess of sixty dollars a month, there is a significant savings over the school year.

If housing is not available, I recommend you find a private home that offers room and board are students. Again, this scenario is you pay a monthly fee, and all your meals if you so basics of life are taken care of and you always know, without doubt, what is your monthly budget.

Books and tuition are always significantly increase the cost of everything and can do little to alleviate this financial pressure has to be a plus for you. When I attended university in 1970 I remember fellow classmate who has been chronically short of cash but high on creativity. Of course, he had to pay his tuition. There was nothing he could do about it, but I’m sure that he rarely bought a textbook. He held a library card to the University library and used it over and over. He assured that he will always have one of the few copies of the text at any rate, that he is taking. And he needs to read quickly and study hard, updating the book, and when he could. It was really developed his system and I could not help but admire their ingenuity. Another option would be to buy second-hand books as soon as possible. Unfortunately, the text seems to change almost every year because sharing with fellow students may also be an alternative. This could work especially well if you had rented rooms to students, who happened to be taking some of the same class as you.

Finally, be sure to live on a budget. This means knowing how much money you guarantee that comes through the duration of the school year. It also means the calculation of all of its real cost. This is what remains after all expenses have been considered to be the amount you spend. When the split month, you will be the class number the amount you have a good idea of what you need to make it last. If you do not have enough then you may want to consider finding a part-time employment. You might even be working part time in the school cafeteria or place of residence. Consider all your options.

Constantly aware of their finances and look for ways to trim excess costs. Money management skills you learn now will stand you in good stead after graduation, as you seek to create their own path in the business world.

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