College Is The First Step To Fantastic Finances, What Comes Next?

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We all know that to get a decent salary in life, you need a college degree. Yes, there are exceptions to this rule, but for the most part, that’s the hard truth. A degree will get you in at a ground floor position in a company, and if you do exceptionally well in college, getting great grades, it might even be a prestigious company. What is often not discussed is what comes next.

It’s worth pointing out that we said a decent salary, not a great one. We also said a ground floor position not a key figure in a company. We should be teaching students and perhaps even kids that their journey to financial success isn’t over once they have that degree in hand. There are a few other things that they will need to do to gain the income level they hoped for. Let’s start by thinking about making sure that they do stand out on the market.

The Side Hustle

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Side hustles like blogging, writing or freelancing aren’t about making money. Anyone who tells you that these types of activities (completed in your spare time) are going to have a substantial impact on your finances is lying. But that’s not the point of them. The point of side hustles is to show initiative and to show some skin to your employers. By doing this, you can make sure that you stand out on the market and that you do look like the type of person that they want in their business.

Remember, for the best positions, employees aren’t looking for someone who is green. They want an individual who had experience even before they left college. That’s how to ensure you’re considered for the position that brings that big paycheck.

The Additional Degrees

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The first four years of college should never really be the end of your learning path. You should, in your spare time be looking for ways to boost your official qualifications further with additional degrees. You might think that this means you have to go back to college, but that’s not true. Even industrial degree likes engineering can now be obtained online. a masters in engineering management online will give you the qualification you need to soar in this industry. It won’t just gain you access to a position in the company, it will ensure you are considered for a top role in the business.

Nothing Less Than Your Best

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Last but not least, you must make sure that you are always giving your best in any position you take on before or after the end of college. It’s unrealistic to think you’re going to get your dream position in your ultimate company straight after you leave school. There’s going to be a lot of positions that you use the fill in the gaps. That’s fine as long as you treat them with the importance that they deserve. You can not afford to mistake these jobs as a place where you can complete the minimum work until something better comes along. References matter when you want to succeed and get your income to the highest possible level.

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Money Math: Valuable Lessons To Learn At College

When you leave school, there’s every chance that you can solve equations, plot graphs, and measure angles, but many college students have limited experience when it comes to managing money. In school, you’re often taught how to solve problems, but these aren’t issues that will necessarily crop up in real-life situations away from the classroom. If you’re preparing to go to college or you’re moving on to the next stage of your course, this guide should come in handy.

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Evaluating your accounts

Going away to college is an excellent time to look over your accounts and determine whether they still work for you now that you’re about to become a college student. If you’ve been with the same bank since you opened your first account, you may find that there are other options out there worth considering. Look at accounts that are geared towards students. Some features, such as online bill payments and low daily balance limits, may be particularly beneficial if you’re swapping high school for college. Before you start your course, take a few minutes to have a look online, explore your options and choose the best account for you. It’s not hard to open a new account, and in many cases, you can do this online.

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Learning to budget

When you go away to college, there’s every chance that this will be the first time you’ve had to budget properly. Whether you’ve taken out a student loan to help with your fees or the cost of living, or you have an allowance from your parents, it’s essential to learn to budget as quickly as possible. When you’ve got money in your account, it can be very tempting to spend it, and you don’t want any nasty surprises when you go to an ATM or check your balance online. It’s very easy to get carried away at the beginning of the semester, but remember that your money has got to last several weeks.

There are many different ways you can budget. Some people prefer to stick to tried and tested traditional methods, such as noting down outgoings in a notepad and updating your spending record with a simple pen. Others use apps or spreadsheets. Whatever technique you prefer, you need to write down exactly how much money you’ve got coming in and what’s going out. Remember that with loans, you’ll usually get a lump sum, rather than regular payments. When you’ve got everything written down, you can ascertain how much disposable income you have. This is the money you have available to spend on socializing or buying new clothes, for example.

From a budget you’ve done for the semester, you can then break this down into a monthly and weekly budget. This will give you a figure to stick to every week. If math isn’t your strong point, don’t worry. You don’t have to sit and work out complex calculations for hours on end. There are really useful features like a fraction calculator and budgeting tools online that make life much easier. If you find it hard to control your spending and keep track of how much money you’ve spent in a week, one option is to take your weekly allowance out of the atm and keep it in a safe place. It’s usually easier to monitor spending when you have cash.

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Understanding loans and credit and planning for the future

When you’re a student, you may not even think twice about taking out a loan or filling in a credit card application. The trouble is that the decisions you make at the beginning of your college journey could affect you long after you’ve graduated. In many cases, college isn’t a viable option without a loan, but be careful about borrowing too much money or getting into debt that you can’t afford to repay. With college loans, it’s common to start repaying your loan when you start working, and you have an income. However, the terms differ according to the type of loan, and if you’ve taken out a private student loan from a bank, rather than a federal fund, you may be required to start your repayments much sooner. If you take out additional loans to your student loan, this will increase your debt, so make sure you can afford the repayments. If you miss payments or you get into a lot of debt, this affects your credit rating.

The average US student accumulates around $30,000 worth of debt over the course of their college career. This is a significant figure, but if you’re sensible with money and you understand the impact of borrowing, you should be able to manage your finances in a way that makes college affordable. As soon as you start working, and you’re earning a certain amount on a regular basis, you can start paying back your loan.

The trouble with accumulating debt comes when you can’t afford the repayments. If you’ve taken out a loan or you have credit cards, and you can’t meet the minimum payment every month, you’re likely to encounter penalties and charges, and your credit score will be affected. If you have a low credit rating, this will make it more difficult for you to borrow money in the future. This may mean that you’ll struggle to take out a mortgage and it may also have negative implications for your employment prospects, as many companies carry out credit checks.

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Going mobile

In this day and age, many of us rely on our phones to carry out a range of simple, everyday actions, including checking our bank balance. If you’re a student, it’s really useful to have access to mobile banking. This enables you to check your balances whenever and wherever you want, make payments and get in touch with your bank. If you don’t already have online banking, download your bank’s app now.

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If you’re preparing to go to college, you’re probably looking forward to broadening your horizons, taking on new challenges and forming friendships, but don’t lose sight of the importance of managing your money. Work out a budget that will see you through the semester, keep an eye on your accounts, and think very carefully about borrowing money. Use apps to take control of your finances, seek advice if you need help with debt, and make sure you’ve got the best account before you leave home.

And finally to make your money go further you may want to take advantage of the many discounts and savings available to students. For a comprehensive list visit the simple dollar

3 Simple Steps To Help Students Save Money

Life as a student can be a mixture of things. It can be fun, stressful, enlightening; and so on. While many student experiences differ, there is one thing a lot of people have in common; money struggles.

It’s no secret that students find it hard to save money, and often end up in massive amounts of debt thanks to the rising tuition fees and the cost of living in university. So, it’s always helpful when you can find ways to save money as a student.

Keeping that in mind, here are few simple steps to follow to save more money as you study:

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Buy Food From ‘Discount’ Supermarkets

Buying food is probably the biggest expense a student has to face during their studies. It’s likely you’ll be buying food every week, and the costs can really add up. One way you can reduce the costs is by shopping at ‘discount’ supermarkets such as Lidl and Aldi. These supermarkets often sell off-brand food that’s a lot cheaper than the mainstream branded stuff you find in regular supermarkets.

If you don’t live near any of these supermarkets, then there is an alternative. Shop at your local supermarket but avoid branded products. These are normally the most expensive products, and they rarely provide you with more than a store-branded alternative. So, stop buying branded food, and you will save a lot of money as well.

Shop Online Using Discount Codes

As a student, you need to constantly be on the lookout for online discount codes. In fact, it’s suggested you only buy yourself something when there’s a code available. As seen on https://www.vouchercodespro.co.uk, there are discount codes out there for so many popular online shops. But, as a student, you should also be on the lookout for student discount codes. These are codes offered by certain places specifically for students. They can help you get a good 10% off every order, and some even have student discounts of around 20%. These little discounts may not seem like much when you look at one purchase. However, they can soon add up to massive savings throughout your studies.

Make Good Use Of Your Student Card

Following on from that point about online student discount codes, you can also get discounts in traditional shops too. Whenever you walk into a shop, look for signs claiming there’s a student discount. Or, simply ask the cashier if they have student discounts. Often, you just need to flash your student card to get the discount and save lots of money. There are many sites like http://www.savethestudent.org that show you some of the best places that offer student discounts in their stores. You can also use student discounts at various cafes, cinemas, and restaurants as well.

Saving money really is about being smart and conscious with how you spend your cash. If you’re always looking out for voucher codes and student discounts, you’ll automatically save money. Also, by tackling a huge expense – your food shop – you can limit how much you spend every month and save so much more cash.