Manage your bank account
Being in college, it is easy to lose focus on responsibility, especially when it comes to saving money. You do not realize how quickly going out for pizza every now and then adds up, until it is too late.
It is really easy to fall under the pressure of your friends constantly asking if you want to go out to eat, or go see a movie, or whatever the case may be.
Saying no, you might feel like the odd one out when in reality, you are being the smarter one of the group in the long run.
It is always a good idea to manage your money and save as much as possible. Things are unpredictable, and you never know when you might get into financial trouble.
Whether it be a car payment you need to make, buying groceries, or paying rent, it is better to learn these kinds of habits now.
That is not saying you cannot spend money at all, but saving more than you spend and putting yourself on a budget is a great idea.
Spend your refund check at one time
It is so exciting when you go to your mailbox and see an envelope addressed to you, with a nice hefty check inside ready to be spent.
Even though it can be so tempting to cash the check and take the money straight to the mall, or out for drinks that weekend, it is a good idea to save it.
There is a catch with refund checks — it is not free money. If you do not need it, it is an even better idea to just not cash it at all.
Every refund check you cash from your loan company needs to be paid back at some point. While that $300 check looks really good right now, in three or four years when you graduate and have to pay back double that amount, it will not be worth it.
The loans students have to pay back already hurt, adding any dollar amount to them will be another month or two you need to spend paying it off in the future. All for a night out? I do not think it is worth it.
The opinions expressed in this article are solely those of the writer and are not representative of The Slate or its staff as a whole