One has to worry about budgets whether you’re an adult or a college student. The minute you become an adult you have to start thinking about what job you will get and how to pay your bills. So many of us learned the hard way that trying to blow everything we make on clothes and eating out put us in debt that is not easy to come away from.
Looking after one’s finances and the proper way of accounting for them on a monthly basis is vital to follow. Whoever looks after the bills, the other in the house to know what is going on with them, as they may be called on to look after the finances at any time.
A bill plan needs to be created. With this one needs to create a list of the monthly bills, along with the quantum to be paid. Typically, this includes the house, the car, utility bills, telephone bills, loans, food and gas. Then you factor in the amount of money earned in that month. Taking all these together one can calculate the amount remaining, if any. Considerable assistance can be had using online money management here.
All owed bills must be paid on time. Delayed bill payment incurs late fees, often considerably enhancing the bill, even up to doubling it. It has to be ensured that all the loans are repaid in time as it keeps the credit rating high. Using free budget management software can help a lot in this financial management.
For those in school, there are many ways of saving money using different methods. Instead of purchasing textbooks, rent them and find savings of up to 50%. Instead of going the Microsoft route use Open Office from Sun Microsystems and save $120. Use a bus instead of a car on campus. Use online money management to look after the budget.
While plastic use increases, so do the ATM fees for college students. Out of state or out of region colleges tend to have local banks or credit unions with ATM’s that are not authorized, leading to significant charges for using the ATM. Getting a free checking account and using it instead of the ATM saves money.
