If you’re heading off to college in the fall that doesn’t mean you shouldn’t remain focused on your savings goals. As a new chapter begins for so many young people, it’s important they remain focused on saving for the future, whether that’s for tuition fees, a vacation, car, or even a deposit on their first house.
Tutoring is a great place to start when it comes to saving additional funds. There are plenty of students that want extra support and if you’re proficient in a particular subject you may be in a position to provide them with assistance. You may also want to look into paid work at the college, such as admin or assisting a professor.
Another great way to save is to learn to cook and eat in. It’s so tempting to eat out more often than not when you’re at college, but there are much cheaper options.
As soon as you receive your reading list find out whether the college has a secondhand book store or if there’s a campus book sale. You could save a considerable amount by purchasing gently used textbooks as opposed to much more expensive new ones. Once you're finished with your textbook sell it on.
You could also look for a job on the weekends or in the evenings whether it’s in a bar, restaurant, or retail. This will help fund living expenses and you can put some of your hard-earned cash towards your savings.
The key to saving when at college is to set goals and stick to them. If you can leave college with a healthy savings account, you’ll be on your way to reaching those goals.
My Money Manager is available through online banking to help you set and track savings goals.
For information about our savings accounts visit https://www.wbsb.net/personal-banking/savings-accounts/ and if you have any questions feel free to stop in at one of our four branches in New Berlin, Springfield, Modesto, or Palmyra.