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- Make a budget. Check out this Student Budget Worksheet from the Financial Consumer Agency of Canada to help you find out where you might be spending during the school year, including things you might not think about, like taxi and Uber trips and monthly bus passes.
- Track your spending. If the money in your student bank account has a tendency to disappear each month, it's time to get serious about tracking your spending more closely.
- Wants vs. needs (the 50-30-20 rule) Another simple way to divvy up your budget is by using the 50-30-20 rule: put 50% of your income toward needs, 30% toward wants and 20% toward savings.
- Stick to your budget. This is the hardest part, of course, but it's important. Set up reminders for yourself to check in periodically to make sure you're still on track.
- Track Your Spending
- Make Friends with The Supermarket
- Be Smart About Textbooks
- Travel Home on The Cheap
- Seek Out Student Discounts
The easiest way to start being more in control of your finances is to track your spending. This allows you to see where your money is going and help you spot areas to cut back if you need to. (Maybe you limit pub nights to Fridays and Saturdays, for example.) You can use technology to make this task easier. Financial appsconnect with your bank acco...
One of the easiest ways to save money as a student is to spend less eating out and more at the grocery store. Grocery stores near university campuses often offer student discounts on one regular day each week—you could save 10% to 20% on your grocery bill by shopping only on that day. (Read more money-saving tips for groceries.) If you live on-camp...
Textbooks are one of those costs that you don’t often think about until your first week of classes—and they can add another $500 to $1,000 to your education bill each semester.Here are three easy ways to trim this necessary expense. 1. Buy used. Campus bookstores will often have pre-owned copies in stock, but you can also find cheaper alternatives ...
If you’re going to school a few hours away from your hometown, the logistics of returning to visit family and friends can make what should be a relaxing weekend a source of financial stress. Instead of booking a pricey train or bus ticket, look into carpooling whenever possible. If a friend or classmate from the same town has a vehicle, ask when th...
You’d be amazed by the number of student discounts offered, especially by restaurants, retailers, grocery stores, cell phone providers and entertainment spots near campus. You could easily save 20% almost any time you make a purchase. Make sure to check out your student union’s website, as they often have all the best discounts listed.
- Begin saving today. When you get money for your birthday, the holidays, or from your first job, it might be tempting to spend every cent. While I’m all for enjoying the money you earn, you should also learn how to save something.
- Learn how to create a budget. You don’t need to take an Accounting or Economics class to learn how to budget. Simply put, budgeting is the process of weighing your expenses vs. your income.
- Start taking advantage of student discounts. For the next few years of your life, you’re going to have an advantage that most adults do not have: Student discounts.
- Learn to recognize “impulse purchases.” An impulse purchase is when you buy something, well, on impulse. You weren’t planning on buying it… it just happened.
Jul 8, 2024 · Examples of Good Short-Term Financial Goals in High School. Let’s delve into some real-life examples of attainable money objectives you can set during your teenage years. One such goal is to open a savings account and make regular deposits. It doesn’t have to be much; even $10 a week can add up over time. Another objective might be to save ...
- Don’t Rack Up Debt Now Because You Think You’ll Get a High-Paying Job Soon. I used to hear this a lot when I was in high school (as well as college)…and I suspect it’s still going around.
- Choose to BE Cool, Not LOOK Cool. Spending all your money to look cool? That’s not so cool. Saving up your money for things like a first apartment, a first car, or college textbooks so that you can establish independence before your peers?
- Develop Real Relationships with Teachers. Aside from just being a good person, developing respectful and friendly (appropriate) relationships with your teachers has another benefit: being able to ask for referrals.
- Extend Scholarship Searches Beyond High School. I wish I had known this when I was a freshman, sophomore, and junior in college. I mistakenly thought that I could only search for scholarships while in high school (my senior year, at that).
Oct 27, 2022 · A guide for parents and teens. 2. Not saving for the future. Along with budgeting, saving is one of the most important aspects of good money management for youth—and failure to save is one of the worst money mistakes a young person can make. In adulthood, squirrelling away money for emergencies (e.g., job loss, car repairs, dental bills) and ...
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May 15, 2021 · Sell Things on Marketplaces. Selling your old stuff on online marketplaces is another great way to make and save money if you’re a high school student. This is arguably the most effective way to make quick, easy money at a young age. Look around your house for old junk, I guarantee you have at least $1,000 worth of stuff laying around.
