College students often find it difficult to cope up with a new place away from home and at the same time to bear the added pressure and financial responsibilities which they are not accustomed with before. There is no doubt that the college years are the ideal time to learn, but it is also true no one really shows any interest to understand the financial nitty-gritty during this time. College students are keener to lead a carefree life and are just not in mood to understand financial management at all. As an invariable result, most of them fails to mange their college expenses and daily budget within their limited grants, student loans and scholarship amount. However the basic financial education in your college days can save you from this debt tarp and change your future financial life completely. Learn to use these super smart ways to deal with your super expensive college days.

Budgeting

Create a proper budget and learn to stick to it. Budgeting is a very significant financial tool for every college student. Whether you are fresh out of high school or a working adult it is only budgeting which can help you to mastermind your financial life. While planning for it first take into account your monthly income and college expenses. First enlist the sources of income explicitly. Take into consideration all your income from part time works, monthly allowances from family, and other financial aids. While counting expenses leave no stones unturned and sum up all your tuition fees, new book purchase, and rent amount, utilities and groceries bills.

Student loans

Unscrupulous Decisions of borrowing excessive student loans can have disastrous effects on your future. Do not live under the impression that excess loan money should be spent on entertainment. Borrowing excessive student loans and squandering the entire loan amount is not a very wise decision. Remember you not only have to pay this whole amount back but also payoff the added interest charges along with it. To evade graduating with an excessive amount of student loans, spend frugally and accept the minimum amount of student loan which you need to bear your college expenses only. It is not compulsory for you to accept the entire amount of your student loan; you can always discard the excess amount and send it back to the lenders. You are free to submit free application for federal student aid, (FAFSA). It helps you to avail a much lower interest rate in comparison to other private lending organizations.

Scholarship

Grants and Scholarship are two more significant sources of income in college days which definitely teach you a few lessons on financial management. You should research thoroughly and then apply forgrants from reputed programs such as Federal Work Study or AmeriCorps.

Shop around

Textbooks, reference books and research equipment are usually the greatest expenses that college students have to bear. Shop around to find those things at a cheaper rate. Campus bookstores usually demand a higher price you better evoid buying books from them. It would be best for you to find a senior who is graduating and willing to give away his books at a cheaper rate. Social networking sites, university bulletin board can help you to come across these seniors. If you keep your eyes open, you can also find cheap textbooks online, and can buy books at at discounted price. College days are ideal to be financially literate. Utilize this opportunity and pave the path for a better financial future ahead.

This article was written by Amy Lewis.

College can get quite expensive, and not just because of the books and the tuition cost. When you go away to college, all of your normal habituals will be disrupted and you will spend a lot of time learning about the new area your in, and getting comfortable to your new surroundings.

In life, there is the time where you are fully supported by your parents, there is the “real world” where you have to take care of yourself, and then there’s college – the in-between state. And being social in college can end up costing you a lot of money.

It’s been estimated that a college student can spend more than $23,000 a year on things unrelated to tuition. That’s a mighty bill, and many college students that do not have jobs usually use credit cards to get most of their spending done.

Clothes, food, entertainment, your cell phone, your coffee, and your social life all add up. There are basically four different types of expenses besides the actual tuition:

• Room and Board
• Books and Supplies
• Personal Expenses
• Transportation

Out of these four, room and board is usually the most expensive. A student can spend close to $8,000 in room and board fees alone – and this is something that usually mandatory, so there’s no way around it. If you want to start saving money at college you have to start planning and spending wisely in the other three areas. Here are some ways that you can save monster amounts of money during your four years at college:

• Buy a coffee maker
• Invest in a Bike
• Use a family plan for cell phone
• Buy store brand foods
• Memorize food deals in your local area
• Use price comparison sites like We Compare Books to buy cheap textbooks and resell books

Another great way to save money is to trick yourself into saving money. There are many ways to trick yourself into saving money, but one of the main ways you can do this is by purchasing gift cards right when you get your money. This may seem odd at first, but once you figure out your daily routines you will usually know where you will end up on certain days of the week, and setting a balance for those days and nights at those certain places can really help avoid any extra spending. The best part about this is that you can usually find gift cards to places on different auction sites on the Internet where you can pick up gift cards for half the price.

The best way to save money can be summarized with one word: Studying. There are a lot of distractions in college, and not only does studying help you save money, but it helps you make more money in the future as well!

This guest post was written by Philip Russell.

Philip helps to run and maintain CreditDonkey.com, which is a web site that helps people find the best small business credit cards.

It’s often hard to keep up with the expenses that come with being in college. From tuition to car maintenance to rent, it’s often stressful to even think about money. However, it’s possible to get a handle on your finances while you’re in college. To avoid falling into the trap of the “poor college student” and to gain some financial stability, here are five tips.

1. Avoid credit card debt.
Credit cards can be useful to build your credit score and for major purchases, but it’s easy to get sucked into a vicious cycle if you aren’t responsible with your credit card. There are two good rules to follow when using your credit card. First, charge only what you can afford to pay for. Second, pay your balance in full each month. Both of these ideas sound
simple, but they are the main reasons that people find themselves slipping further and further into credit card debt. If you can avoid credit card debt in college, you’ll be in better shape to manage your finances in the future.

2. Learn to budget.
Budgeting can seem unnecessary in a world of online banking, but budgeting is more than just making sure your balance is what it ought to be. Budgeting includes taking a look at your income and your normal expenditures and making a plan to ensure that your income is covering your necessary expenses. Budgeting can help you visualize where your money is actually going and help you decide if you need to make financial changes. A budgeting worksheet is a great place to start.

3. Find deals on textbooks and school supplies.
Textbooks are a necessity for college students, but often textbooks can be very expensive. Look for deals when purchasing textbooks, like buying used textbooks, or even trading textbooks with other students. Be sure to compare textbook pricing between your campus bookstore and other retailers. Also, many stores and restaurants offer student discounts, so be sure to ask.

4. Start a savings account.
You can start to save money, even if you start from nothing. When you are budgeting your income, make sure to include a place for savings. When you make saving a priority in your budget, it’s more likely to happen, even if it is just a little bit of money. Having savings will help you feel much more stable in your finances.

5. Make small changes in your lifestyle.
Do you eat out for lunch everyday? Do you buy a new water bottle when yours runs out? By making small changes in your lifestyle and spending less, you’ll save yourself more money and improve your financial standing. Bring a homemade lunch and save the money you would normally spend buying it. Use an eco-friendly reusable water bottle. When you notice how much you save, you’ll be motivated to make more changes in your life to save money.

This guest post was written by Diane Johnson

Diane Johnson graduated from the University of Utah with a degree in political science. When she’s not traveling she enjoys writing articles about pell grants.