How to avoid falling in debt as a college student

SmartGirl By SmartGirl, 18th May 2015 | Follow this author | RSS Feed | Short URL http://nut.bz/2vizdo-1/
Posted in Wikinut>Money>Debt

In today's time, the value of money has really increased. Moreover, the college students are one of the sections which are really affected by the money matters. College students usually have a tendency to spend money impulsively. So, here are some of the important tips which can be followed to void falling in debt.

How to avoid falling in debt as a college student


1. Budget your money: Always make sure that you prepare a proper budget of spending the money you possess. In this way, you can know how much money you can spend and how much you need to save. Budget ensures that you don't spend impulsively and start saving lot of money from young age. Always remember to save money whenever you can so that you don't need to borrow money from anyone and not even your parents. A plus point in this is that you will also uplift you confidence levels.

2. Avoid borrowing money: Many a times, when college students are lack of funds for their expenses they tend to borrow money from their friends. This leads to the development of the worries of returning the money thus increasing the debt manifolds. Also, various relationships including the one with the friends are affected.

3. Get a job for yourself: This might sound quite hectic, but in the long term you will find the job helping you a lot. It can be an online or an offline job. But the main thing is that you need to "make your own money". So, just gear up yourself before it's too late. Also, you can make sure that you get creative to make money e.g. start a new online business like an online shop on etsy or teach online. In this way, you will have multiple income online thus moving you away from the debt line.

4. Don't compare yourself to others: If you compare yourself to others then you will be more attracted to compete with others thus directly or indirectly harming your pockets. Everyone has different priorities in life and therefore the spending also varies accordingly. Therefore you should focus on your own life and not on others. In this way, you can protect yourself from debt in every way.

5. Find creative ways of entertainment: You can look online for free passes or take up voluntary work in order to get free entertainment at your favourite places. In this way you can prevent yourself from wasting money in costly sources of entertainment. Look for new offers from startups or new launching products.

Tags

Avoid Debt, College Student, Money, Save Money

Meet the author

author avatar SmartGirl
I just love writing. Writing is my passion . :)

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Comments

author avatar WOGIAM
29th Jul 2015 (#)

These are brilliant tips, Smartgirl
It is possible for students to avoid debts, it may not be easy, but with determination, it can be achieved.

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author avatar SmartGirl
30th Jul 2015 (#)

Thanks WOGIAM!
With determination and perseverance everything is possible in life. :)

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author avatar writestuff
5th Aug 2015 (#)

Thanks for this informative and inspiring post.

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author avatar SmartGirl
6th Aug 2015 (#)

Hi writestuff!
Thanks a lot. Many more inspiring articles will be written by me soon. Happy Writing! :-)

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