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Seven Secrets to Managing Your Cash for the Semester

College tuition can be a major expense.  What’s worse is that you likely don’t have a lot of money while you are in college, due to the fact that you are spending your time gaining the education needed for a decent-paying job.  Finding ways to survive the semester on a limited income can be challenging, but there are ways of ensuring that you make it through without having to take out a government loan or secure a line of credit from the Bank of Mom and Dad.  Money management is an important life skill for anyone, but it can be even more vital if you are attending school.

Making a Budget is Half the Battle

Make sure you have limits on what you are able to spend in each of your expense categories.  You can do this by noting how much money you have each month, and then breaking it up into the various categories that you need in order to survive.  You should start by budgeting for the necessities first, and budget for luxuries based on what money you have left.  For instance, you should always budget for groceries before entertainment.

Monitoring Your Expenses Will Keep You on Track

It is easy to say you are only going to spend $200 on food in a given month, but actually accomplishing that target is unlikely if you aren’t monitoring your expenses.  Make sure you write down each time you spend money.

Eating at Home as Often as Possible Will Help You Limit Expenses

Eating out can be a massive expense that is sure to deflate your savings account at a rapid pace.  Cooking at home will ensure you aren’t spending huge amounts of money on restaurant food, and it can also help you eat healthier.

Buying Used School Books is Cheaper

Used school books can be much less expensive than books that are new.  Ensure you get to the bookstore early so that you are able to pick up copies of the books that you need.  Used textbooks are typically less than half as expensive as new textbooks.

Selling Your Used School Books Can Net You Some Cash

At the end of each semester, there is a list of books that the bookstore is accepting used.  Selling books can net you some spare money if you don’t need the book anymore.  You can get about one-quarter of the value of the book that you have, or about half the value if it is already used.  However, you can usually get more money by selling your books on commission through a used bookstore or by setting up a private sale to another student.

Controlling Your Drinking Will Help Keep Your Money in Your Account

This isn’t just about the money you spend on alcohol itself.  If you have become overly tipsy, you could be more inclined to spend your money, even if you don’t have much of it.  If you are able to keep your wits about you, saving money can be much easier.

Getting a Student Loan Can Be the Saving Grace

Most students graduated from post-secondary school with a heap of debt.  They needed the government’s assistance to get through their studies, and you may very well need that assistance, too.  A government student loan can provide you with the funds necessary to pay for school, and for your living expenses while attending.  While school is almost necessary in the modern world if you want to secure a decent job, it does cost a lot of money.  You will likely need to be frugal, and these tips can help you maintain your accounts.  You may also consider going to online cash advance lenders in an emergency.