As a recent college graduate, I am now experiencing what the “real” world has in store. Looking back on my first day of college, I was merely an anxious freshman thinking the next four years were never going to end… Boy, am I eating those words now.
Over the course of completing my college credits, I made it a point to predominantly pay my own way through the four years, seeing the value in working hard for the things I wanted most. I can now say with great pleasure, I have successfully paid my own way through college, and I am now on the road to bigger things.
For those of you wondering how a young adult like me was able to make such a financial decision and execute it, I have three tips to share so you, too, can rise above the limitations of student debt.
Financially smart decision #1: Make a budget for your monthly expenses
When paying your own way through college, you will quickly come to realize the only way you are going to stay afloat financially is to create a monthly budget plan. Budgeting, while a drag at times, has the potential to make a significant difference to the amount of money you can put away in your savings each month.
To make a budget fitted for you, you must first be aware of your monthly income, followed by a list of all your expenses for the month. Once you have totaled up the numbers you are then able to plan out your budget accordingly.
I know being frugal with your money can seem rather tedious at times, but think of how much better off you are going to be after college if you just take the time to make the conscious decision today.
Financially smart decision #2: Kick the compulsive spending
Continuously spending money on materialistic items that are only going to bring you surface- level happiness will soon lead to that deep pitted feeling of guilt — commonly known as buyers’ remorse — in your stomach, leaving you dissatisfied.
While it’s nice to treat yourself to things that bring you personal happiness, such spending should be kept to a minimum in order to ensure your financial stability and leave you with enough funds to not only pay your expenses, but potentially build your savings.
Financially smart decision #3: Be aware of what your college has to offer you
There is no college that is one in the same with another, however, just about all of them offer opportunities for its students and lend a helping hand with tuition expenses. For instance, while I was in school, I had joined the staff of the university’s newspaper, providing me tuition compensation while I was working there. In later semesters, I also joined the staff of other organizations to help cut tuition costs and receive hands-on experience in fields of interest to me.
The beauty of the college experience is to provide students with the tools and skills to enter the workforce with confidence, so why not take advantage of the financial compensations along the way?
We have all heard the saying, “life happens in a blink of an eye,” but I don’t think we ever truly realize just how applicable this cliché is until we experience a life-changing event such as completing four years of college and advancing to the next stages of life.
For those of you students who may be feeling the anxious pre-college jitters coming on, I can sympathize; however, to help ease those unsettling feelings, I will let you in on a not so secret, secret. Zions Bank offers students multiple options to help keep track of spending as well as savings. To see which options best suit your needs, visit Zionsbank.com so you, too, can take a step towards a brighter financial future.
Cammie Johnson is a summer intern in Zions Bank’s Corporate Marketing and Communications Department. A recent graduate in English from Utah Tech University, she is eager to expand her knowledge and assist with various projects throughout the course of this summer.