Consider a job.
If your schedule permits, part-time employment can help cover costs and help keep borrowing to a minimum. There are many on campus jobs that will work with your school schedule!
- Visit the Career Services Center for a list of available on-campus and off-campus jobs.
- Find a balance that works for you; most undergraduates can work 10-20 hours per week during the school year.
- Work and save money during the summer to reduce your need to work during the school year.
Do not forget to activate your Bearkat OneCard!
Your Bearkat OneCard offers you many student privileges that you should be utilizing such as the HKC, library, and getting into sporting events for free! You also need your Bearkat OneCard to get into your dorm and to use your meal plan. It will make things easier on you to have an active card. To activate your Bearkat OneCard, please go to www.bearkatone.com.
Pay attention to where your money goes.
Once you've gone through a few personal finance books, you'll realize how important it is to make sure your expenses aren't exceeding your income. The best way to do this is by budgeting. Once you see how your morning java adds up over the course of a month, you'll realize that making small, manageable changes in your everyday expenses can have just as big of an impact on your financial situation as getting a raise. In addition, keeping your recurring monthly expenses as low as possible will also save you big bucks over time. If you don't waste your money on a posh apartment now, you might be able to afford a nice condo or a house before you know it.
Keep good records.
Hold on to your receipts for deposits, ATM withdrawals, credit card charges and other transactions long enough to confirm that your monthly account statements are correct. (Later it's OK to toss these pieces of paper in the trash, but be sure to rip them up enough so that a thief cannot read or use them.) Also, keep copies of any contracts or other documents you sign with the bank (loans, certificates of deposit, etc.), along with any accompanying materials. If there is ever a dispute or a discrepancy, you will have those documents to refer back to.
Tips for Needs vs. Wants
To save money, it helps to really understand the difference between needs and wants. And you probably do understand that food is a need and a latte is a want. But some mornings, after cramming all night for a test or working late, a latte is sure to feel like a need. Maybe coffee is a need but gourmet coffee drinks are a want. Maybe a cell phone is a need for personal safety but custom ringtones are almost assuredly a want. Did you know that if you bought a latte every Monday through Friday that costs $4.28 per day, that equals to $21.40 per week, averaging out to be around $100 a month!!! That makes a total of $1200 a year that you are spending on lattes! Just think what you could do with $1200.
When spending your money, think about what’s really important to you and what has lasting value. Considering ways to save money and meet your goals is important to your future.
Tips for Identity Theft / Privacy
1. Do not give your Social Security number, mother's maiden name or account numbers to strangers who contact you, especially by phone, Internet or mail. Identity thieves sometimes pose as business, bank or government representatives to get you to reveal personal information. Legitimate financial or government organizations that do business with you already have this information and will not ask for it by calling you. Be conservative when filling out warranty cards, subscription forms, prize-drawing cards and web-site registration forms.
2. Put passwords on your credit card, bank and phone accounts. Avoid using easily available information like your mother's name, your birthdate, the last four digits of your Social Security Number, your phone number or an easy series of numbers such as 1234.
3. Do not carry PIN numbers, birth certificates, Social Security cards or passports unless absolutely necessary. Do not carry credit cards or ID cards you don't need.
4. Review your credit card and other credit statements each month and make sure you know exactly what you're being billed for. Challenge any charges you didn't authorize. Pay attention to what time of month your bills arrive. If they don't arrive on time, call the creditor to make sure an identity thief hasn't changed your billing address to keep you from discovering phony charges.
5. Guard your mail from theft. Don't leave outgoing mail in an unsecured mailbox. Use a locking mailbox or take it to a collection box or your local post office. Promptly remove mail after it has been delivered. If you are planning to be away from home, call the U.S. Postal Service at 1-800-275-8777 to request a vacation hold.
6.Tear up or shred documents containing personal information before throwing them away. Use a shredder to slice bills, charge receipts, copies of credit applications, insurance forms, physician statements, bank checks and statements, expired charge cards and credit offers you get in the mail.