Money Management for Students

By understanding what's important to you, you'll make the most satisfying decisions. Do you save your money for big items or spend on lots of small stuff? Are you a bargain hunter or a trendoid shopper who loves brand names? These questions will help you figure out what your values and attitudes are towards money.

Use the Personal Profiler to find out if you're a wannabe money manager or the real deal!

Goals give you direction. They can help you buy things you may not have or get to where you want to go. Short term or long term - It's important to identify your goals, figure out which ones are most important and work towards them.

Start setting your goals now!

More Advice

1. Track your money
2. Get a plan
3. Good time money
If you know you need to buy a new CD or go to concert or a party every week, make room for that in your budget. You need some entertainment. A student is going to get really burned out if you don't do anything fun.

4. Pace yourself
If you spend, spend, spend at the beginning of the semester, you could be tapped out later. Give yourself a spending limit for each week.

5. Go easy with the credit cards
6. Set your own credit line
Just because you have a credit card with a $2,000 credit line doesn't mean you have to spend $2,000. Call your credit card company and request your credit limit be lowered. 

7. Get real
You can do what you want, but you can't do everything you want. Be realistic.

8. Stuff happens
If you bust your budget on something you really, really want to do this week, make up for it next week.

9. Look ahead
Whether it's a road trip with friends or an auto insurance bill, if you know a big expense is coming, start putting some money aside to pay for it.

10. Get in touch with your roomie
Contact your roommate before the semester starts and divvy up expenses. Chat about who will bring a refrigerator and who will bring a microwave.

11. Spread it out
Most of the big expenses are at the beginning of the school year. Buy books as you need them. That will spread out expenses.

12. Ask for help when you need it.

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