Preparing for college can be both exciting and daunting, but have you considered how your finances will come into play once school starts? Think about it. Having to purchase groceries, toiletries, clothing, and, probably most importantly, school supplies, will all burn a huge hole in your wallet.
We know that this can be overwhelmingly worrying, but our credit union in Brownsville wants to help you! We have three tips below that are sure to make your college finances easier to manage.
Create a Budget
First, ask yourself what will be costliest in college. If you’ll be attending thanks to a loan or scholarship, then this leaves you open to focus more on spending money to help you get by. This is where it’s important to start saving.
Make a list of how you’ll be spending money on a weekly basis and how much you’re willing to fork over for the items we listed above at the beginning of this blog. If you have absolutely no clue how to go about doing this, then we invite you to meet with a financial advisor from Enterprise 360 at one of our three locations to create your budget plan.
Start a Savings Fund
Don’t let your college years pass without considering long-term investments like IRAs and savings accounts. Opening these now will help you save more money during college, helping you prepare for life post-graduation.
Find Deals for Your Dorm
Remember that college life isn’t about living an upscale style, it’s about living comfortably and within your budget. For this reason, you should consider:
- Shopping for dorm furniture at second-hand stores.
- Creating your own dorm decorations instead of buying them.
- Buying dorm necessities as wholesale like cleaning supplies and toiletries.
Apply for a Loan with Us!
If you’d like more information about how to better make your college life easier without having to worry about money all of the time, then our credit union in Brownsville wants to help you! For more information on our loan options, contact us today.