Five years out of college and it seems like just yesterday I was walking into the classrooms, studying accounting and looking forward to my post grad life and responsibilities. Well, today I can say that I am content with where I am in life as a result of the decisions that I made; however, there are some choices that I would reconsider and there are some financial decisions that I would change.
Check out some of my personal money tips that I have learned from past experiences. They are sure to take you a long way as a college student or even as a working young adult.
Tips for Money Conscious People
1 – Figure out your priorities – In other words, determine what your needs are and make sure they are met first! Sometimes we get caught up in the things we want without making sure that our necessities are taken care of.
2 – Shop around – You would be surprised at the savings you could harness just by taking the time to consider all of your options carefully. Do this periodically with things such as car insurance and your regular store items, but consistently with significant purchases.
3 – Say no to too much debt! – I recently told my sister who is in her second year of college that she doesn’t need but one credit card, if any. College students are being offered credit cards as if they’re free to use. However, it’s only free during that introductory period. If you still have a balance past the introductory period, watch out! Some credit card companies charge back interest after their introductory rate expires, which means the interest that you should’ve paid during your introductory period will be applied to your bill.
If you desire to have a financially secure future, take the time to review your spending habits on a regular basis, especially if you find that you are not where you want to be. The more Your Money is on your Mind, the more you will do to keep your finances secure.
by Tamara Wims