By Megan Griggs Posted June 2, 2010
As the times change and the recession continues, it becomes more and more apparent how expensive everything is. I can remember when just five dollars was more than enough to pay for your whole lunch. Now a trip to any fast food restaurant can cost up to seven or eight dollars. As a high school student, I will admit that I don’t exactly know how to manage my money well.
To us and many of our classmates if there is money in our pockets then there is money to spend. For seniors especially, we should learn better ways to finance our money.
As I prepare myself to go out into the real world without having mommy and daddy there to slip you a couple of bucks here and there, I wonder how I will be able to stay out of the red from month to month. Below are C.A.R.E’s top ten financial tips for both high school and college students. Keep in mind that all ten may not pertain to or even help you, but they are all good tips to keep in mind:
- Create a budget, one you can stick to and is realistic
- Open a savings account, this will help keep your funds in check and also safe
- Look for ways to save money, don’t feel dorky if you cut out the newspaper coupons it’s the smart thing to do.
- Use cash, a debit card, or checking account instead of a credit card, so if it’s under $20 or you can eat it or drink it, use cash
- Avoid credit card debt, young people especially think that if you just swipe the card and there is no bill right away you won’t have to pay, not the case.
- Pay your bills on time, even if it’s just paying your friends back for that time they bought you lunch, it’s a good habit to get into.
- Always pay off any debt as soon as possible, just like homework, the faster you get it done the better off you will be, and the less stress you will have.
- Minimize your student loan debt, scholarships are important and a job will always help.
- Stay away from impulse shopping or internet buying, it’s addictive that you can get online and buy anything with just the push of a button, beware.
- Just be smart and avoid overspending when you can, most of these tips are common sense just use your head.
So whether you are a freshman or a senior graduating or even if you don’t have a job yet, you should keep these tips in mind, and remember that smart spending is smart thinking.
