College is thought to be about discovering and there are lots of ideas to learn about income through accounting. Start off small. Give yourself a weekly budget and see how close you come to accurately assessing expenses. If you run out of cash on Wednesday and are forced to live off a box of cereal the rest of the week, you’ll get a taste of what happens in adult life when you misuse money.
And talking of food, that might be the one place where other money gets mismanaged than any item on your budget. Everybody needs to eat, particularly college kids and whether you choose to dine in or eat out, find ways to get the best bang-for-your-buck.
Same goes for what school you choose, how much you spend on rent and whether you really need things like a car, cable TV and a $5 cup of coffee every morning. Does it really make sense to take out more student loans so you can indulge in those “essentials” of college life?
Or should you use better judgment and live within your budget? The benefits of education that in college will make life a lot easier when you’re on your own and having to sustain yourself without student loans or a check from Mom and Dad.
Ramen noodles and PB&Js can get you through the day, but inevitably you know a restaurant or bar that serves hot wings, is going to call your name and you will eat out. That’s going to cost you a package unless you use smartphone apps like Hooked and Pocket Points that will save you big bucks on your food budget, helping you to avoid the need to borrow from your parents or take out more student loans.
