How to Financially Prepare for College

Standing at the doorstep of adulthood can feel overwhelming, but it doesn’t have to be. Graduation can be the gateway to good habits as long as you know how to build them. Here are a few tips on feeling good about your finances as you take the leap into college life.

● Create a Budget and Stick to It - The best thing about budgeting is that it's personalized for your lifestyle. Start your budget simply by making a list of the items or services you pay for regularly and what they cost. Separate all your expenses into categories such as groceries, transportation, housing, etc. Once you’ve done that, based on the amount of money you have to spend, plan how much you would like to assign to each category. After you’ve created your budget, it’s time to start implementing it! Work on sticking to your budget, and before you know it, you’ll be on the road to healthy financial habits!

● Open a Credit Card and Pay It Off On Time - You may have heard horror stories about credit cards, but they are an excellent tool to help you prepare for a stable financial future. Opening a credit card and paying it off on time will help you build your credit score quickly. Having good credit is critical for purchasing a car, renting or buying a home, and many other milestones that you want to be ready for. Find the credit card that meets your needs by evaluating value, rewards, and perks to see which one suits your lifestyle.

● Set Yourself Up With the Best Student Loans - Finding the right student loan comes down to doing your research. Explore all of your options to find the best rates and repayment options. Talking to someone at your chosen school’s financial aid office can help give you some guidance on what options are right for you. Give yourself a solid timeline to follow to make sure you have everything you need before you head off to college.

We want all of our members to succeed, so we are thrilled to be a part of your journey. Check out our Student Loan options to get you started