Endless Bliss | Happy Lifestyle Blog: 3 Things I Learned About Finances in College

3 Things I Learned About Finances in College



No one has ever accused me of being amazing at handling money. It's not that I have a spending problem, I just don't pay attention to the money I spend. Most girls spend money on clothes and shoes, but I'm that girl that was spends money on books and food. While my money habits haven't exactly gotten better, my money management skills in college were absolutely horrible. I had periods of not even having a job and how I survived is a mystery to us all. 

I think the best thing that came out of my bad spending habits in college is that I was able to learn what not to do when I finally entered the "real world" and had to start paying for things like water and electricity. I guess my only complaint would be that I never learned these things in a classroom. Seriously, can they teach a life class in college that prepares us for filing taxes and dealing with landlords?

1 | PLAN AHEAD
The majority of my college career was spent living off of my income checks. These were the checks that I received after my scholarships and loans paid for my school expenses. I received one of these every quarter, and the beginning of the quarter was spent counting down to when I would get these. I didn't have a job for a good portion of my college career, so I had to decide what things I was or wasn't going to do according to the amount of money I'd receive from my income check. 

Because I only received a large sum of money at one time, I had to plan out how I was going to use it. I would put a good portion toward food (because a girl's gotta eat), but I'd also leave some breathing room for fun stuff. I lived on campus all four years of college, so I was fortunate that I didn't have to worry about paying rent or utility bills. 

2 | UTILIZE CAMPUS RESOURCES
I didn't really start taking advantage of all of the things my university had to offer until my junior year. Our Tech IDs also served as debit cards of sorts, and we could use our Tech Express to purchase things on campus as well as at restaurants and gas stations around campus. If I needed ketchup but was running low on funds, I would be more likely to go to the on-campus grocery store and overpay with my Tech Express rather than use my own money because technically I already spent the money with my scholarships and loans. 

Take advantage of things on campus like the gym, workout classes, the pool, free movies, cheap concerts, etc. because once you graduate, you won't have access to all of these things. Also, many places around your campus may have discounts specifically for college students. Don't be afraid to flash your student idea and use these discounts while you still can. 

3 | DON'T STRESS ABOUT STUDENT LOANS
When I signed up for student aid at my school, I wasn't sure what I was doing when it came to my school finances. I think we all know that college is an expensive investment, and you should be informed about the money you're spending and know what your options are. Did you know that 3 out of 4 college undergraduates wish there was more helpful financial information available to them? I was definitely part of the former in college. 



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Finances in college are no joke, which is why it's important for you to explore your options. Debt is a scary thing, and the majority of students don't even have a plan for how they plan to pay off their student debt after graduation. Before finalizing your financial decisions check with people who have knowledge about finances and explore the vast amount of sources available to you online. Managing finances in college doesn't have to be stressful. 

What's a piece of financial advice that you've received? 

Disclaimer: This post is sponsored by College Ave Student Loans and Her Campus Media. All opinions are my own. Thank you for supporting the brands that make Endless Bliss possible!

10 comments :

  1. Plan ahead is a big one. I would so also make a budget for everything. From clothes to weekly grocery/eating out.

    http://www.amysfashionblog.com/blog-home

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  2. Rebecca ElizabethJune 3, 2015 at 9:28 AM

    Great post. I think my biggest tips are to budget and really use money consciously.

    EnglishPrepster

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  3. I was lucky enough to not have loans for college. However, planning ahead is huge! I also agree with Amy's comment about budgeting. Setting money restrictions on how much you can spend for what really makes you cut down on the "wants" and focus on the "needs!"

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  4. I'm getting ready to go back to grad school and I am getting a little nervous because I'm so used to my paycheck! Mint.com is a great resource to better understand how you are spending your money. Thanks for shoring this helpful post!

    <3 Lisa / Strum Simmer Sip

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  5. I used to use Mint way back in the day, but then my income wasn't steady so I abandoned it. I think I may have to start using it again because I really need to start setting a budget and sticking to it. Thanks for the suggestion!

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  6. I'm so jealous you didn't have loans! I wish I could say the same. Budgeting is so hard for me, but I want to get better at it. I have a problem with sitting down and making a budget and then just forgetting about it.

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  7. That's easier said than done! Haha. I really want to get better about spending my money, but most of my money goes to bills!

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  8. That's such a good idea, Amy! I really need to get better about making a budget and actually sticking to it.

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  9. Lol I know the feeling. I have to force myself to actually physically pull money out of my account and set it aside for different things.

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  10. I definitely spend all my money on food, books and going out with friends. Soo bad!

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