What are some really good money management tips for a college student?
I am really horrible at managing my money, and having to be fairly independent in college is not helping the situation. I work to make personal spending money, but I will eventually have to start paying off student loans, plus every so often something important that I have to pay for comes up. How do I handle my paychecks so that I am not blowing them within a week?
First pay yourself by putting 20% of your check into a saving account “just incase”. Really, you should have at least $1,000 in an emergency fund, but do what you can do. Second, make a budget and stick to it. Use the “envelope system” and keep a preset amount of cash in an envelope… when the money is gone for the week/month, so is your spending.
