As summer winds down and the school bells start ringing, a new academic adventure awaits. Whether you're stepping onto campus for the first time or gearing up for another semester, one thing is certain financial preparation is crucial. At Excite Credit Union, we get it – managing money during your college years can be a puzzle. Here are five simple money tips to help you breeze through the back-to-school season while staying in control of your finances.
Craft a Realistic Spending Plan
Okay, let's break it down – a spending plan is just a fancy term for a budget. Think about all the things you'll need to pay for this semester: tuition, textbooks, groceries, and that occasional coffee or boba tea to keep you going. List it all out, add it up, and compare it to what you have saved in your bank account and any other income you will earn each month. Focus on must-haves (maybe one boba a week instead of daily). Psst, you don't need to be a money whiz – just be smart about where your cash is going. Tracking spending is the key.
Unleash the Student Discounts
Picture this: your student ID is your golden ticket to savings. Yep, tons of places hook you up with discounts, so don't be too shy to ask. Restaurants, shops, even movie theaters – they're all in on the deal. There are also several student discount apps available for additional discounts. Be sure to check in with your school’s administration office, they may have other great recommendations for student savings.
Embrace the Go Checking Account
We've got something that fits you like your favorite hoodie – it's our Go Checking account. Perfect for college go-getters like you. No complicated rules, just simple banking made for students. Keep track of your money with confidence and control in the Excite’s mobile banking app. Our app helps you manage your money, send and receive money with Zelle®, set spending goals & alerts, know your credit score, locate thousands of ATMs and keep your account secure. With Excite you focus on earning that degree, not hidden fees. Managing your money? Done and done.
Dream Big, Set Goals
Let's talk dreams. Maybe it's saving up for a spring break getaway or taming those student loans. Set up your goals like a boss: specific (think details), measurable (track that progress), achievable (keep it real), relevant (make it count), and time-bound (give it a deadline). Check out Excite’s Financial Education resources for side by side help in goal setting. Your wallet will thank you later.
Rock the Right Plastic – Responsibly
Credit Cards can be a great way to build credit and provide a back up for unexpected needs. Excite has great options for students who want to build their credit with no annual fees. It’s important to only use what you need, using credit comes at a cost. By paying your balance off in full every month, you avoid paying interest on what you buy.
As you dive into this back-to-school season, keep these simple money moves in mind. Whether you're scoping out the best discounts, owning your Go Checking account, or setting killer goals, know that Excite has your back. We're all about helping you navigate your college years with money tips to help you along the way.