6 Financial Tips For College Students

You're off on a new journey of discovery when you enter college. You’ll learn new things and make new friendships. There is already a lot to think about when you start your first day and one additional thing you should prepare for is how you are going to handle all of your financial needs for school. Here are 6 Financial Tips for College Students:

Time To Budget: College is a great time to learn about budgeting, setting you up for a stronger financial future. Figure out which expenses are necessary and which ones are not, so you can determine if you can save money by removing some of the unnecessary purchases. It’s good to write down your budget for a quick overview of where you stand for the month or year. 

Prepare For The Unexpected: Life is going to throw you a curve ball every once in a while. It’s best to be proactive in these situations. If you’re able, place some money into an account that you use only for emergencies. This will help with any of those unexpected expenses. 

Buy Used: You can save a lot of money if you buy books, furniture and tech used. Look online or visit your college bookstore for some reasonably priced items. If you know some friends that have taken the same classes you’re about to take, ask to borrow or buy their book for that class. 

Keep Track: Using online banking is a great way to keep track of your finances. ALLIANCE has a mobile app you can use to make sure you see all of your purchases at a glance. It’s a good way to make sure you aren’t going over your budget. Try checking your accounts at least once or twice a month. 

Download the ALLIANCE Mobile App here: https://alliancecutx.com/Access/Mobile-App

ALLIANCE Credit Union: Opportunity Checking: Alliance can help you get your financial journey started with our Opportunity Checking accounts. These are perfect for those who are 18 - 25 years of age. Below are some of the features of the “Opportunity Checking” account.

  • Cash back on debit card purchases
  • 0.30% discount off consumer loan rates at origination
  • Free money orders and cashier’s checks
  • Low $50 minimum opening deposit
  • FREE ATMs Nationwide

Learn more here: https://alliancecutx.com/Bank/Checking/Opportunity-Checking

Apply For Scholarships: Don’t forget to apply for as many scholarships as possible. Scholarships help reduce the amount of student loans you might have to take in order to cover various expenses. The Fall semester is a good time to start applying because other students are busy with their admission requirements. Take advantage of this to get ahead, every dollar helps.