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Student Alert: You’re The Boss Of Your Own Money Now…

student alert - young womanYou’ve waited a long time for this, you’re finally being held responsible as an adult. Now that you’re over 18 and you’re a student at college, it’s time to be your own boss. The first point of order as your own boss is to be financially responsible. This is a student alert…to advise you to start taking finances seriously now. Only you can manage to make it through college without drowning in debt.

The least you can do is minimize the entire expense of higher education. You’ll be paying for the course and the accommodation which will inherently put you into tens of thousands of dollars into debt. So, while you’re at college you need to focus on living within your means.

Learning about fiscal responsibility is a great way to understand how the financial systems around you work. It will also help you understand how you can still live a good lifestyle and not always have empty pockets.

With this student alert, you will be able to take action on how to be more fiscally responsible. 

Student Alert: You’re The Boss Of Your Own Money Now…

It’s going to be a long journey while you’re in college. However, formulating strategies for all the things you’ll be doing is farsighted. If you do these things, you won’t need to call mom or dad to help you out with a few bucks every week.

1) Knowledge is Not Cheap

During your first year at college, you’ll begin to notice that for every subject and lecturer you’ll need a new textbook. This is quite normal these days but it’s also quite expensive. So many students and their parents don’t factor in just how much textbooks will cost. Well, how can they when they are specific to each course and college?

It’s incredibly easy to be blindsided by this and it can cost hundreds, if not a couple of thousand dollars. This is only so you can buy the books you’ll be using throughout the entirety of your course. Before you do buy the textbooks brand new, take a look at websites that offer used textbooks. CampusBooks compares all kinds of books.

They have three options:

  • Buy
  • Rent
  • Sell

It may even save you up to 90% of their retail value. Although they may be used, they have gone under a quality check so no pages are missing and no amount of text has been destroyed or distorted.

Also, be aware of what version of the book you have been asked to buy. Sometimes textbooks used by colleges can be many years old but they have been updated since being published by the author.

If you only need a textbook for a semester, you can just rent it out. This can be done in the same manner you would a library book. Help out other students by selling the textbooks you no longer need and earn some money while you’re doing it. 

Related: 10 Sites to Find Super Cheap Textbooks

2) Time to Take Advantage

This student alert also helps you understand that the economy at large knows how hard it is to be on a student budget. Very often you have barely enough money left over after grocery shopping and paying for the rent, that you’re confined to your own dorms. You dare not venture out to buy something else because it would put a massive dent in your finances for next month. However, it’s your right to take advantage of every student discount that’s available.

You’ll find that many clothing stores outwardly put up their student discount deals on their website and their real-world retail stores.

The necessities are all highly discounted industries for students such as:

  • clothing
  • food
  • travel

As long as you have your college student card with you, most stores and online retailers will accept to give you between a 5-10% discount on all purchases. This might seem small at first, but eventually, it will all add up. Even if you’re just saving $30 or $50 a month, by the end of the year you will have almost or just over half a thousand dollars. 

You can also apply student discounts to things such as medicine and other healthcare payments. Healthcare insurance plans do accept the student discount cards that millions of people are issued by their recognized colleges. However, even holiday agencies and travel companies do indeed accept such discounts for students. Utilize your discount privileges whenever and wherever you can.

3) Save When You’re Traveling Around

So many courses these days require travel of some kind. You might be doing a finance course in accounting, perhaps a course in English where you’ll need to go to a theater performance or maybe you’re an economics student who will be asked to go to a stock exchange. Regardless of your subject and nature as a student, you’ll need to travel around a lot.

Having a lot of data on your smartphone really helps to get you around. Using Google Maps and watching videos on-network data does not come cheap. Many conventional networks don’t have a student package but they do offer discounts. Unfortunately, many of them aren’t enough, so you could use Student SIM plans from the very start.

  • The small plan is 2GB of data for just £7.50 a month.
  • For the medium-size package 4GB for £10.00
  • The largest is 8GB for £15.00.

If you would still like more and you can afford it then you can have the Unlimited plan for £18.75. 

Many rail services will also have college discount tickets or cards for daily travel. Large cities like London and New York often have student cards which give you a discount on your tube and metro travels. Other forms of public transport such as buses and trams also have student travel discount tickets and cards. Be sure to look up the services in the city or town that you’re in and take full advantage of what’s on offer.

student alert

4) Party or Part-Time?

College students are at a stage in their life where they are experiencing freedom for the first time. Very often this leads to partying on campus or going out to clubs and bars. This student alert tells you that it’s okay to do this once in a while but partying costs money. When you spend money on social events all the time, you’re not going to have much left for your necessities such as food and bills.

Rather than partying, you should find some kind of part-time work. For one, you will see the world through a very different lens for the first time.

Now it will be your own money that you’re spending on things like:

  • food
  • clothes
  • bills
  • luxuries
  • leisure activities

However, you need to be careful and plan how you work and what exact job you take on. This is because you don’t want your part-time job to become your full-time worry when you’re studying. It also has to be financially worth the extra hours you take away from study. You may also find it useful to try and get some work that you can do from home or rather online. It’s vital that you are considering working on the weekends instead of during the week too. 

The “Student Alert” Conclusion

Hopefully, this was a helpful student alert for you. Understand, you are now responsible for your own financial future and your parents cannot help you for long. When you’re a student, you should take advantage of all the things that are designed to make your life easier such as student discounts. Whether it be for clothes, food or travel, you must search around and see what kinds of deals you can utilize to great effect.

Also, buying books is going to be expensive as the years go on in your course.

  • Remember that you can buy used books that are just as good and don’t nearly cost as much.
  • Work part-time to earn a little extra cash so you have more chance of staying on top of your bills and more.
  • And, remember that the money must be worth the time and don’t work for cheap just because you’re new to the workforce.

Are you ready to be fiscally responsible?

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AUTHOR LaTia Longuemire

My name is LaTia Longuemire. I enjoy writing, singing, and cooking in my spare time. My passion is helping others. At this stage in my lifetime, I'm primarily focused on my children. They are everything that keeps my world spinning.

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