Financial Lessons Every College Student Must Learn Before Graduation Day

College is an investment. It's a time when you figure out what you want to be when you grow up,

8 Financial lessons every college student must learn before graduation day 0

and it is also the final time you are prone to have any form of leniency by way of having scholar loans hanging over your head whereas attempting to make ends meet. So we are saying: do not waste this chance! Whereas there are positively issues that may’t be taught at school, there are some priceless monetary classes that each school scholar ought to study earlier than commencement day—they usually’re all about cash issues.

  1. 1 Don't take on too much debt


    The most important lesson to learn when it comes to money is that you should not take on more debt than you can afford. Don't go into debt simply because you want a new car or house, or a college degree that won't help you get a job after graduation.

    Take the time to consider whether or not the degree program will be worth the investment when it's all said and done. Will it give me skills that are in demand right now? How long will those skills be in demand? What companies do these skills work best for? Is this worth taking out student loans for? These questions need answers before enrolling in college.

  2. 2 Understand your expenses

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    The first step to getting a handle on your finances is understanding the expenses that you'll be facing. You can't make good decisions about how to budget for those expenses if you don't know what they are.

    The most common financial obligations of college students include tuition, books and supplies, food, housing, transportation and entertainment. It's also important to consider any miscellaneous expenses - these may include course fees, health insurance or other insurance premiums, personal care products like deodorant or shampoo, etc.

    Once you have an idea of what these costs might be during each semester of your college career, then consider their timing: How often do I need this item? This will help ensure that there’s enough money set aside so that it’s not a problem when these things come around again!

  3. 3 Know when to get a credit card

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    Credit cards are a great way to build your credit history and establish a line of credit. If you have good credit, you'll be able to get better rates on loans and other financial products.

    But before getting one, make sure that you understand the benefits as well as the drawbacks of having a credit card. You will have to pay interest on purchases if you can't pay off your balance each month, which can add up quickly if you're charging hundreds or thousands of dollars' worth of purchases every month; that means it's important to only use your card when it makes sense for your budget. 

    Plus, carrying around too many cards can affect how lenders view your overall credit score—and since college students tend not to have much income yet (if any), this is something else they should consider before applying for multiple cards at once (even though most banks will offer them at least two).

  4. 4 Find the right bank

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    The problem with many banks is that they have high fees and are not FDIC insured. When you're young and just starting out, you don't have much money to begin with, so every bit counts. As such, it's important to find a bank that doesn't charge you unnecessary fees or keep all your money locked up for days on end. You should also consider the time it takes for deposits and withdrawals from your account as well as whether or not there are branches near where you live or work. Finally, look into customer service reviews online before deciding which bank is right for you!

  5. 5 Create a budget and stick to it... and be realistic

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    You'll need to create a budget and stick to it. If you can't afford something, don't buy it. The best way to start is by figuring out what your financial goals are in the short term—and be realistic about them.

    For example, let's say that one of your goals is to save up $500 for a new bike so you can ride around campus with your friends (the most fun!). Make sure that includes all of your expenses: food, transportation costs and any other bills as well. If you want to save up for an apartment after graduation, make sure that's included as well!

    Once you know how much money you're making each month and what bills are due each month—and how much money those bills take away from what's left over—you'll be able to determine how much extra cash will be available after paying off monthly obligations like rent or mortgage payments.

  6. 6 Avoid lifestyle inflation

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    Lifestyle inflation is when you start spending more than your income can sustain. This can happen for a number of reasons—it could be that you've been given a raise or bonus, or that you bought a new car and needed to upgrade your home insurance policy as well. It's important to recognize when this happens, because it will mean that eventually, the money won't be enough to cover all of our expenses anymore.

  7. 7 Get in the habit of checking your credit score regularly

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    While your parents may have been in charge of your finances before, now you're on your own. And while having a credit card or loan is great, it's important to understand what impact they can have on your life. A credit score is a number that's used to determine your creditworthiness and financial health. The higher the number, the better; the lower it is, the worse. You don't want to be considered financially unstable by lenders because they won't trust you with their money—and without them lending to you at all!

  8. 8 Make saving for retirement automatic

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    Saving for retirement should be a priority in your 20s, but it's easy to forget about when you're busy paying down student loans or working a job that won't make you rich. The good news is that many companies offer automatic payroll deductions into a 401(k) or pension plan, and they're happy to take your money without asking questions as long as they get the paperwork filled out on time.


    In conclusion, I hope that you have learned a lot from this article. As a college student, it is important to know and understand your finances. There are some great tips that I have shared with you in order to help you get on the right track when it comes to managing your money while in school.

    I wish you all the best as you continue your journey towards graduation day!

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