5 Tips For College Freshman

Being a college freshman is an exciting time in our lives. It’s also a time for lots of new experiences.

Managing money is one of those things they will be doing for the first time in their lives. The decisions they make in college about money will either help or hurt their financial future.

Here are 5 tips to help your college freshman be smart about their personal finances:

#1: Avoid deceiving credit card offers.

The free movie tickets or T-shirt give-a-ways look like a good deal. But when it’s attached to a high-interest credit card, you’ll pay for it in the end.

#2: Take the time to apply for all available grants and scholarships.

It will take some time and research, but it could lead you to new found money that does not need to be paid back. Though it’s a little late to do this for the fall quarter, you may still be able to reduce college costs in future quarters or semesters.

#3: Minimize your student loans.

Only take what you need. Student loans are getting more and more difficult to pay back every year.

#4: Buy used textbooks (or rent them).

The average student will spend over $1,000 a year on books. Look in the used book section at your University’s bookstore or search on Amazon or eBay for used textbooks.

#5: Get a part time job.

The extra money will come in handy, and like my dad always says, if you keep yourself busy you will not get in trouble.

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