We're busy getting ready for New Student Enrollment! We're sharing our best-kept money secrets for new freshmen. Following is the first of 5 money secrets!
Money Secret #1: Save Money Through Practicing Good Habits
Have an emergency fund for unexpected expenses. If you have an emergency fund for unexpected expenses, you will not have to borrow money and pay interest charges.
Keep all debt as low as possible. The less debt you graduate with, the more money you will have after college to put towards your financial goals. Use our interactive Student Loan Planning Guide to help you minimize borrowing.
Develop financial goals to help avoid impulse spending. For example, if you want to study abroad, saving for your trip can help you avoid unnecessary purchases.
Avoid the most common student money-wasting mistakes. During the academic year, students commonly spend: $430 on eating out, $540 on entertainment, and $540 on personal items. Solutions = Use your meal plan or learn how to cook, attend free UNL entertainment events, and identify your wants vs. needs.
Have a spending plan. Having a plan for your money will help you spend your money wisely, and is good practice for managing your money after college. Check out mint.com, a free tool that will help you easily create your own spending plan.
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