This article is written by a student writer from the Her Campus at Auburn chapter.
Because when you’re in college, you need all the help you can get.
- Create an Emergency fund. Every time you get money, tuck away a small percentage into a savings account. Don’t let yourself get access to this account until an “emergency.”
- During your 20s, you should try to raise your credit score. If you get a credit card, use it wisely. Pay off your credit card bills while keeping the accounts open should help your score.
- Live by a budget. Plan how much money you want to spend on groceries, outings, clothes, and more each month. If you go over in one category, then shrink your budget in another category for that month.
- Stop impulsive spending. If you try on a cute top that you like, remember that it will probably still be there tomorrow. Give yourself a day or two to make sure you really love it and want to spend money on it.
- Save first, then spend later. Don’t spend your paychecks before you get them.
- Get health insurance.
- Open a Roth IRA.
- If you have two jobs, don’t spend both salaries. Instead, spend one and save the other.
- Read personal finance books. Examples of some really good books are “Total Money Takeover” by Dave Ramsey and “Think and Grow Rich” by Napoleon Hill.
- Invest wisely. If you do, you can make some serious money without even having to go to a job.