” This means sitting down to craft a budget

canada goose The 10 smartest things to do with your money in college Kathleen Elkins Sep. 22, 2015, 12:05 PM In college, you can learn about history, writing, programming … and money.Flickr/José Manuel Ríos Valiente The college years fly by, and before you know it, you’re thrown into the real world. It’s important to get a head start on building sound financial habits before this point, but how do you do that as a full-time student, when you might not be working and making a consistent income? Here are ten smart places to start: 1/ Don’t stop applying for scholarships once you’ve been accepted. Notre Dame Admissions/Facebook Continue seeking financial aid. Many students believe scholarships are not open to enrolled students, but this is a costly misconception. There are many scholarships awarded to sophomores, juniors, and even seniors, so take the time to research and apply for various opportunities. Start by visiting your school’s financial aid office and searching online. Sites such as College Board, Fastweb, and Scholaroo are also good places to start. Then www.zoetermeerinbeeld.nl , hunker down and start applying. Many scholarships have deadlines in January, so keep that in mind as you’re filling out applications and gathering recommendations and other necessary materials. 2/ Consider opening a credit card account to start building credit — just be diligent with your payments. iStock Establish credit. While often overlooked or forgotten about, building good credit early on is essential. It will allow you to make big purchases later on, such as insurance, a car, and a home. There’s no better time to start than college. “It’s easier to establish credit in college rather than wait and try to do so afterwards,” says Jonathan Meaney, a certified financial planner and wealth manager at Carter Financial. He says he has seen many cases of young people waiting to apply for credit cards until after college and being rejected because of their lack of credit. If you’re going to open a card, though, it’s important to establish smart credit card habits and be diligent in your payments. It’s not unheard of for college students to open credit card accounts for the free tee-shirt, rack up a huge balance, and land themselves into debt before they even graduate. Start by looking into great credit card options for students rather than jumping on the one that offers up the free tee. Meaney recommends opening up a credit card, setting up at least one automatic payment, and not using the card for much else — that way, the account will stay open, and you won’t risk falling into dangerous credit card habits. There are also other effective ways to build credit without opening a credit card if you want to bypass the card altogether during college. 3/ There are plenty of free activities you can find on college campuses — take advantage of those rather than spending excessively on dinners and concerts. Flickr / John Morgan Start getting used to living with a budget. It can be tempting to try to keep up with friends or peers who blow through cash going out, but don’t get students loans for spending money, Meaney emphasizes zoetermeerinbeeld.nl , as you’ll be paying off your late-night dinners and concert tickets for years. Know how much money you have available to spend, and make sure to stay within those bounds. “You’ve got to make sure that more money is not going out than is coming in,” he says. “Learn to live below your means, even while in college.” This means sitting down to craft a budget. Creating a budget does not have to be the daunting process that people make it out to be; in fact, managing your money can be quite simple with the proper resources and attitude. For ideas, take a look at the insight offered by 14 regular people who keep diligent budgets. There are also many free budgeting apps to help you categorize and monitor your monthly and annual spending. 4/ The late night pizza trap can be dangerous — from a money and health standpoint. REUTERS/Adrees Latif Use all of your meal plan. As tempting as it may be to make a Chipotle run or order late night pizza, take advantage of your meal plan if you have one. Meaney equates it to the match on your 401(k) plan (a type of retirement savings account offered by many employers, some of which will contribute company funds to “match” your own contributions up to a point) — if you don’t use it, you’re essentially missing out on free money. 5/ Start investing in quality goods, such as a nice suit you’ll have for years. Marcos Mesa Sam Wordley/Shuttershock Buy quality. College is a good time to start investing in things that have value. While it may be hard to part with your cash, some things are worth spending money on, such as a nice interview suit or winter coat. Check out Business Insider’s guide to smart purchases to make in your 20s. Quality purchases don’t necessarily mean big-ticket items; there are several everyday items to invest in that can pay for themselves in a short amount of time, such as a commuter bike or coffee maker. 6/ Tutoring is a great option if you’re looking for a way to make money. Jeff J Mitchell/Getty Images Get a part-time or on-campus job. “If you feel like you have the time and if it’s not going to hurt your grades, get a job,” Meaney advises. Many schools offer a selection of on-campus jobs — ranging from tutoring to sports information correspondents to dining service aids — and will oftentimes give preference to students on financial aid. Check with your college’s HR department or adviser to see what options are out there. While on-campus jobs are more convenient, if that’s not an option for you, there are a slew of high-paying jobs you can do on the side. 7/ It’s helpful to have a bank close by in case you need cash at a moment’s notice. Justin Sullivan/Getty Images Open an account with a local bank close to campus. If your main bank doesn’t have a branch on, or close to, your college campus, consider opening a checking account with a bank you can easily access. “It’s good to have something local that you can get to if anything happens and you need to access money quickly,” Meaney says. Make sure you either open a fee-free account, or that you know the rules of your checking account (like any minimum required balance) so you don’t get hit with fees. 8/ Even just 10% will go a long way. Flickr/Caden Crawford Start saving. There’s not much to go around as far as excess cash when you’re in college, but saving just 10% — even if that 10% looks measly — is still meaningful and a good routine to establish, Meaney says. Once you start to provide for yourself, setting savings goals is one of the most important practices to establish. “You can never save enough,” he says. “There will always be something to apply that towards. The key is that you set goals and prioritize the things that you want and might want down the road.” This may be a new laptop, a speaker system, graduate school, or the security deposit for your first post-college apartment. It may be helpful to set up multiple savings accounts in order to save for specific purchases. Check the online interface of your bank and see if it will allow you to create sub-savings accounts for different goals. 9/ Living with buddies is fun — and much more cost effective. Getty Images / Christian Science Monitor Live with friends. Generally, on-campus housing will be cheaper than living off-campus, so take advantage of that option if you can. However, many universities cannot guarantee on-campus living situations all four years. If this is the case for you, avoid the one-bedrooms and bunk with friends to save a significant amount of money. Getting just one roommate would save the average American renter about $6,000 per year, while getting two roommates would save $7,600 per year. Plus, living with friends is fun! You never know where your friends will scatter after graduation — you’ll want to get as much time as possible with them while you can. 10/ Professional associations offer great networking opportunities, which could come in handy down the road. Flickr / Public Information Office Invest in your future career. Join a professional association that represents the industry where you hope to find employment, Meaney advises: “Not only do you learn by going to their events and hearing some of their presentations, but you also get a great opportunity to network.” While many professional associations charge a fee, students can typically get a discount, and it’s a worthy expense that can pay off in the long run. If you don’t want to commit to a year-long membership, attend a major convention or job fair for the industry you want to get into. These can be found in cities all across the country, and the travel expense would be well worth it, especially if you’re considering moving to a city post-college. “It’s another opportunity to hear different topics from lots of different speakers,” Meaney says. “If you don’t know exactly what you want to do within an industry, these can help you get more focused, and of course, the networking opportunities and potential for jobs at these events are tremendous perks. That would be money well spent.” Previous 1/ Next SEE ALSO: The 9 smartest things to do with your money in your 20s canada goose parka