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August 2009 |
Heading to College? 6 Tips for Managing Money  No matter if it’s your first or fourth year as a college student, you may experience financial frustration. “Where does my money go?” you may ask as you peer into your empty wallet. But taking some extra effort to organize your money can help you spend – and even save! – wisely.1
Keep track. In a notebook, write down the income you receive each month (from parents, financial aid, and/or a job). Then list your required expenses, such as food and utilities. From there, list what you spend and where you spent it. Now you have a monthly spending plan! You may want to keep it in your
wallet as a reminder.2
Take advantage of student discounts. Many stores and restaurants offer discounts to students when they show their I.D. Keep your card with you
so you don’t miss out!
3
Use your receipts. If you use your DCU Check Card often, remember to record all purchases and transactions in your checking register. At least
once a month, compare your register with your statement on PC Branch at
dcu.org to make sure everything balances.4
Pay bills right away. Don’t let bills sit too long – you may forget about them and have to pay extra fees or overdraft charges. Worse
than that, you run
the risk of damaging your credit rating. Pay them in full before the due date.5
Fine-tune your shopping. If you have roommates, make sure you aren’t all buying paper towels at the same time – designate who buys what. Buying
in bulk and splitting the cost may make sense if you have storage space.6
Organize your wallet. Keep your wallet neat so you know how much cash
you have. Place gift cards and coupons in visible spots so you use them
and can save money.
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Visit Show Me and FoolProof Solo online for more money management advice and ideas. Visit dcu.org and select "StreetWise" then "Show Me." Images may be from one or more of these sources: ©Jupiterimages, ©Getty Images, ©iStock, ©SnapVillage. ©2009 Digital Federal Credit Union. Digital Federal Credit Union PO Box 9130  Marlborough, MA 01752-9130508.263.6700 • 800.328.8797 • dcu.org • dcu@dcu.org TTY 800.395.5146 (For hearing impaired only) |