As summers heat begins to give way to a more embraceable air that fills our lungs with the coolness of an upcoming fall, we are all once again navigating the beginning of a new academic year. This one may be different than any other we will ever encounter in our lifetime, but nevertheless, some things still carry the familiarity of falls past and hopefully falls to come.
One thing is certain not only in this current moment but has been as true as the leaves falling from the trees and pumpkin spice showing up in everything. I am talking about the need to appropriately manage our finances as we embark on a new academic cycle. In this article, I give you 49 tips for this fall and beyond that will hopefully make your financial lives a little easier and in turn take away just a bit of the pressure you may be experiencing. Now I understand that some of these tips require a traditional type semester setting, but I am an eternal optimist. I can’t bring myself to remove the advice that reflects a return to what we once may have taken for granted, but surely never will again.
Hopefully, you can deploy a few if not many of these tips in your own lives and then share them with someone else who may need a little helping dialing in their finances of making ends meet. If you want to discuss any of these tips or your own personal financial situation, please feel free to visit the Financial Literacy and Wellbeing website at https://ninerfinances.uncc.edu/ for more information or to schedule.
SAVE THE MONEY YOU ALREADY HAVE
Make sure your checking accounts are free
Only carry a zero annual fee credit card
Work while in school if possible
Never be late on a payment
Never overdraft your checking
Use cashback at stores instead of ATM’s
SAVE MONEY ON COLLEGE EXPENSES
Have both an academic and financial path to graduation
Fill out the FAFSA every year regardless of your finances
Monitor your loan debt every semester
Apply for outside scholarships and grants
Minimize textbook expenses
Be sure to look for education discounts on software and hardware
Use technology from the library instead of buying
Print on campus when possible
SAVE MONEY ON FOOD AND DRINKS
Budget your meal plan
Pay attention to restaurant and bar promotions
Attend events with free food
Learn to cook
Utilize wholesale stores and unit cost
Use Yelp and Groupon discounts
SAVE MONEY ON COLLEGE ENTERTAINMENT
Attend free campus and community events
UREC instead of a gym membership
No cable needed
Ask for student discounts on entertainment and food
Use the library for leisure reading
Volunteer
Start a side hustle you love
Student group and organization offerings
SAVE MONEY ON TRANSPORTATION AND TRAVEL
Student travel tours
Live close to campus
Consider not having a car here
Find carpool buddies
Public transportation
Utilize travel rewards programs
Consider low cost break trips or service-oriented trips
SAVE MONEY WHILE LIVING OFF CAMPUS
Have roommates
Renters insurance is a must
Reduce your cell phone plan
Don’t over decorate
Be mindful of utility costs
Maintain high credit score for better housing options
Location matters
Buy used or second-hand furnishings
Protect your security deposit
Live at home
Separate leases for roommates
3 GENERAL RULES
Be intentional with every transaction no matter how small
The way you handle money now will be how you do it later – form good habits
LIVE LIKE A STUDENT NOW, OR YOU MIGHT HAVE TO LIVE LIKE ONE FOR THE REST OF YOUR LIFE. IT IS UP TO YOU!