Never spend more than you have while you’re attending college or university. By not over spending you may avoid unwanted events and situations such as receiving telephone calls from collection agencies, credit card debt and bank overdraft charges. Of course, when you never spend more than you have you can also have extra money to purchase items that are important to you and your success as a college student.
It’s easier to spend more than you have and get into debt as a college or university student than it might appear to be at first sight. In fact, some college and university students amass more than $15,000 in debt with a combination of college student loans, credit card debt and other expenses like new or used cars, motorcycles, clothes and/or furniture. This doesn’t have to happen to you.
To avoid over spending:
Also, make decisions on whether or not you’re going to attend social events like going out to eat based on your personal financial goals and your budget. Steer clear of deciding whether to attend events based on how much your classmates and friends encourage you to attend these functions. It’s also important that you be honest with yourself regarding your finances. Don’t tell yourself that you have money you don’t have. Focusing on the fact that debts and spending habits you create now may impact how much money you have after you graduate can help you to make wise spending decisions.
Furthermore, personal spending habits that you develop while you’re in college or university may follow you throughout your life. If you create a workable budget, follow the budget and steer clear of debt, regardless of how tempting sales and credit card ads may be, you may find that you have money left over each week, money you can place in interest bearing bank accounts and start growing your savings.