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How to Manage Your Money

By: Tori Fixman 

money

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Especially as the holiday season is approaching managing your money is getting harder and harder. As a college student you may always feel like you’re broke but it doesn’t have to be that way. Managing your money isn’t as hard as it seems, as long as you follow these 3 easy steps.

1. Only buy what you can afford. DON’T USE YOUR CREDIT CARD. 

credit card

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What this means is know how much money you have to spend, whether it be on your debit or in cash but don’t use your credit card unless absolutely necessary. I’m not talking about those shoes that you feel like you need in your life, I’m talking online shopping where all that is accepted is credit card. Once you go down the steep hill of using your credit card to pay or everything, it’s hard to get back up from that. 

2. Prioritize. 

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If you have money that you need to use to pay things like your phone bill, car insurance or school, make sure you know how much you need to pay monthly so that you can put that money aside and you don’t start to get in debt at an early age.

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3. Ask yourself.  “Do I really need this?”

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I know that you may fall victim to the cutest thing you ever seen or the coolest pair of shoes on the market, but remember to ask yourself, “Do I really need this?,” Not only will this save you from some horrible purchases, but it will also save you from burning a hole in your pocket.

All in all, as much as you have on your plate, your life will become much easier once you know how to properly manage your money. Our end goal with college after getting our diploma is pretty clear, MAKE MONEY, and these steps will make that easier. Happy Saving!