If you think college students can’t plan ahead for future investments, then you better think again. As early as now, students are advised to think big while they are still mentally and physically stable. Financially? Well, we can always find a way where finances are not a hindrance to reaching your goals. Real estate investment in the Philippines is known to be ideal for future goals. That means college students can definitely join the real estate world.
Yes, as a college student, there are a lot of things you need to consider for you to graduate – assignments, projects and other activities that involve your time, effort and most importantly, money. How can they even save money for their future investments? Again, money is not an issue when you just know how to save money effectively. Moreover, being discipline when it comes to money is, of course, a must!
1.Where does your money go?
First things first, you cannot save effectively when you do not know where your money go. As a college student, it is important for you to know what and how you spend your money. Knowing such allows you to develop better spending habits.
2. Make a budget
As we all know, the budget may be a little bit tricky. You have to carefully estimate your monthly income and expenses. Right budgeting will determine how much you spend and save for a particular budget.
3. Live like a college student
Just because you have a dream to reach, that does not mean you are not going to live like a college student. Although it may be difficult for you, try not to spend too much money you do not have yet.
4. Don’t abuse credit
Credit cards are useful. However, you should not abuse and use it all the times. If you are not mindful of it, credit is a dangerous thing when it comes to financial matters. As a college student, only charge what you can truly afford to pay off each month. Moreover, make sure that it fits your monthly budget.
5. Nothing is impossible
Because there are a lot of things that you need for your school, you may think that saving may be impossible for you to do. However, if you are just determined enough to reach your dream home, then you will be able to do it.
6. Keep it safe
When it comes to money matters, it is important for you to keep it safe. Make sure that to keep receipts, student loan documents, and another financial statement. Moreover, students are also advised to open a bank account to make sure the money will be safe whenever and wherever they are.
7. But do you need it?
This is an important question to ask whenever you want to buy something. The moment you decide to buy a particular thing, you also have to think about what are you going to do with it, or is it necessary for you to have that thing at home or in school? Knowing such will also give you an idea whether to buy it or not.
8. Keep score
Unless you are still living with your parents, it is important for you to pay your bills and other fees on time. Delaying such will only lead you to pay its interest. Moreover, paying your bills on time is a big factor in having a good credit score.
9. Be a cheapskate
Whether you realize it or not, many colleges offer lots of free or cheap activities on campus. This will give you an opportunity to socialize other college students without the need to spend a lot of money.
10. Extra cash
Another way to help you with your budgeting is to have some extra income. Just make sure that your studies will not be affected, you can find an extra job for you to earn a little extra spending money.
Just because you are still a college student, that does not mean you cannot prepare yourself for your future goals. There are a lot of advantages of being a college student. Not to mention places that give discount by simply for being a student. Moreover, you should have a clear plan on how you can achieve your dream home.