How To Manage Your Money As A Student

Thank you for listening in today! Check the show notes below to view a recap of this episode.

Show Notes

Why is money management important? The habits you develop now are the habits you will carry with you for the rest of your life.

Why should you trust me? I've survived my first year of college having come away with more money than when I started (I didn't even work)!

Step One: Get a job and determine schedule (how many hours you will work per week)

Step Two: Budget your income (I personally recommend a free app called EveryDollar to do this)

    Substep: Budget a percentage for living expenses (rent, room and board, meals, etc.)

    Substep: Budget a percentage for savings (this amount is NOT to be touched!)

    Substep: Budget a percentage for college fund (put a certain amount aside each month and watch that fund grow!)

    Substep: Budget a percentage for spending (remember to pay yourself, aka, invest in yourself by improving your learning and talents)

Step Three: Make an emergency fund ($500 minimum, you can go higher depending on what assets you have and what may go wrong with them)

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