Sunday, December 6, 2009

Saving in College

By Laura Reginelli

Going to college can be an expensive endeavor. Not only can rising tuition costs be a heavy financial burden, but also the extra day to day costs of college can make quite a stamp on your savings. There are several ways to go about increasing funds for college and making sure that you have enough money to easily get by on a day to day basis.

One way to save properly for college is to look into student banking accounts. Generally there are both student checking and student savings accounts which can help students effectively save their hard earned cash. These bank accounts are usually easily accessible but you should check out all the available options before making a decision.

Another thing that come in handy when paying for college is those old savings bonds that your family used to give you before you were old enough to understand the concept of money. Since interest rates are likely to rise in the near future it may be smart to cash in your savings bonds and use the money for your education.

One last final tip for financially surviving college is to create a budget and stick closely to it. Make sure to allot money for any going out expenses and such along with food and extracurricular events. College can be expensive so it is smart to start budgeting early in the game.


1 comment:

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