What You REALLY Need for College!
You finally made it! Congratulations! You are college-bound and taking those first steps into true independence. It’s an exciting time filled with new experiences and opportunities. Let’s take a page out of the declassified college survival guide to see what you need to get ready for college!
Get a credit card: At some point, you will be looking to purchase your first car or first house. Building good credit is a vital step toward securing your financial future. Consider applying for a low-limit credit card, especially if a rewards program is offered. A wise man once said, “With great power comes great responsibility.” Only make transactions you can pay off immediately, keeping your monthly balance low and avoiding interest charges. Additionally, having a credit card can also serve as an emergency* fund should the need ever arise. Review the options we have for you here.
*While extremely tempting, coffee cravings do not classify as an emergency.
Create a budget: Learning financial discipline is critical. Even if you are working a part-time job, setting a budget will help you put your spending habits in perspective. Eating out every night or relying heavily on delivery services like DoorDash can quickly drain your funds. By sticking to a budget, you’ll learn to prioritize your expenses, save money, and avoid unnecessary debt. Explore cost-saving measures like buying your textbooks used or renting them. As a student, you will also have access to a great deal of discounts locally and online. Take advantage of this!
Have patience: Remember, this is not a race to the finish. College is as much about the journey as it is about the destination. Allow yourself time to adjust to the new environment, explore different opportunities, and don’t be afraid to make mistakes. Celebrate your successes and learn from your failures! Make the most out of every aspect of college life and embrace the process of personal growth and self-discovery.
Find balance: While academics are a significant aspect of college, your physical and mental health should be your top priority. Strive to find a healthy balance between your studies, socializing, and making time for yourself. Using a planner and creating a schedule is an excellent resource for managing time effectively.
As you embark on your college adventure, remember that success goes beyond exams and textbooks. Establishing good credit and creating positive financial habits, as well as learning patience and balance, will contribute to your success in school and everyday life. And don’t forget to give your parents a call every once in a while. They will appreciate it!