4 Easy Ways To Save Money For College

4 Easy Ways To Save Money For College

Are you already in the known of some major aspects college life comes with, and wish to come across a great strategy to be ready for the unexpected? If so, the next few lines are exactly what you need in order to get the outcome expected!

We know how hard it is to have the exact sum of money for college life, not only for the annual fees, but also for spending some money and having fun as any other student. In this case, we have managed to come up with some of the best ways to help you save money for college life. All you need to do is to stick with us and keep an eye on the lines below to get you in the… business!

College Fund

Find a part-time job

Nowadays, more and more teenagers are looking forward to getting any job that can provide them with some extra money. The advantage of it is that you can find a work place in almost any field – for instance, if you enjoy working with people, giving a handy hand in the library or joining in some charitable events is the job for you. On the other hand, if you are the kind of person who prefers working from home, being an article writer or a blog owner suits you perfectly!

Open a bank account

Savings are best to be kept in bank, due to the fact that you may find it hard to always go to the bank for getting them out. By this way, your money will remain intact and the sum will constantly grow, if you opt for an economic one. No one will say ‘no’ to savings for studies, so even if you don’t exceed the age limit for starting a bank account, your parents will gladly do that for you!

Do not panic

College fees are, in most of time, high above the sum of money you will ever save as a teenager. Still, there is no need to look for the entire college period of time (3-4 years or more) – make sure to first have the sum of money needed to pay the first year. As days go by, an opportunity will surely come across and you will get the second fee paid, as so on so forth.

Look for a student loan

These days, having your fees paid through a student loan is not a secret anymore. Moreover, more and more students are looking forward to taking up this modality, since they will repay it only when they start working – at that moment, a really small percent from their salary will be transferred to the paying fee for the student loan, which turns this method into a perfect one for a student, due to the fact that besides studies, college is all about fun and having the best time of your life you will never have the opportunity to live again.

These being said, if the steps mentioned above are followed as expected, you will slowly start to realize how benefic the decision you made some years ago was (and still is). Still, one aspect is utterly important to be taken into consideration in order to have, in the end, a sum of money that’s worth working for – time! The sooner you start making savings, the bigger they will be!

SOURCE CNN Money
Article writer, life lover, knowledge developer and owner at www.youngmoneymakertips.com
  • http://www.pipstoday.com PipsToday

    Great post Gabriela, thanks for introduce with these way that’s really helpful of us. But here I am not favor with student loan because student cannot predict the existing interest rates in the future so you may actually end up paying more for the repayment if the interest rate in the future is lowered.

    • http://www.youngmoneymakertips.com GabrielaC

      Hi there PipsToday,

      I agree with you, it is almost impossible for a student to say whether or not he will pay back the student loan without any additional fees when the moment comes. Still, my point here concerns the possibility of paying the university fees at a certain moment and also have a great time throughout this period. A student may not have the sum of money ready for university, and in this case, the student loan will surely be the best choice! :)

  • http://www.pipstoday.com PipsToday

    Hi Gabriela, Thanks for reply. Yeap@ I am agree with you.

  • http://www.curadebt.com/ Emmanuel Gonot @ CuraDebt

    A daughter of a friend recently graduated from college and as far as I can tell she never asked a dime from her parents to finance her studies. Of course, my friend Dave (her dad) felt bad not being able to contribute so she allowed him a few concessions, like paying for her rental on some odd months. She’s financially independent from her parents having been trained by them to save, invest, and become an entrepreneur at a young age. She was already earning from multiple streams of internet income by the time she went to college enabling her to finance her education on her own. There’s a lot of opportunities out there for young people who are willing to put in the time and effort to learn. Great post, Gabriela!

    • http://www.youngmoneymakertips.com GabrielaC

      Hi Emmanuel,

      Thank you for your kind words! :)
      I’m so glad to hear your story, it proves me once more there are still some of us looking for being independent, saving and investing money in things that really worth it. She’s surely one girl to whom a great respect is ought to be given!
      Thank you for stopping by, have a nice day! :)