College Saving Tips

8/8/2018 |

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College Saving Tips

The time has come: You're getting ready to start a whole new journey as you head off to college, and as exciting as it is, there are some things to worry about. At Premier Source Credit Union, we care about your finances. To help you take a step in the right direction, we composed a few college saving tips! The more tips you implement throughout college, the more financial responsibility you will acquire over time.

Understand the Difference Between Needs and Wants

Write two separate lists: things you absolutely need and things you want. Once you compose the two lists, reevaluate the things you need. See if you can find upcoming sales, coupons, or even just find a generic brand of what you want to buy. As for the list of things you want, consider this: wait until your birthday or a holiday to ask for it, or reward yourself if absolutely necessary. By separating your needs and wants, you can avoid impulse spending and ultimately gain a better understanding of budgeting.

Use Coupons, Student Discounts, and Customer Rewards

Whenever you shop, look for coupons and sales. Whether you find coupons online, through email, in the paper, or from a rewards program, take the effort in searching for and using coupons and sales. Also, don't be afraid to ask for student discounts wherever you go. You'd be surprised at how many places actually offer student discounts!

Limit Eating Out

One of the biggest temptations in college is eating out. Sure, the dining hall may not seem like the most appetizing option. However, you have a meal plan for a reason, as the cost of eating out adds up quickly. You may be satisfied, but your wallet won't. Only eat out on special occasions if you can.

Start selling

College is a time to grow, get rid of things, and start anew. Go through all of your clothes, purge your room, or sell that textbook that you never ended up using. You'll notice how many things you don't actually use or need, and you can sell them to those who need it more.

Premier Source Credit Union offers saving accounts, checking accounts, and student loans to help you manage your finances throughout college. Stop into one of our Springfield or East Longmeadow branches to learn more about financial planning with Premier Source Credit Union.

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