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Learning About Money – Must-Read Financial Advice For Students

Whether you’re already a college student or preparing to begin your freshman year later in 2018 doesn’t matter. Taking responsibility in all aspects of your life is essential, not least when it comes to your finances.

Ignoring the need for stability will lead to repercussions that could harm your studies, happiness, and future. Use these five simple tips to stay in control, and you should be just fine.

Earn While You Learn

Regardless of which type of job you want, college is the ideal gateway. However, education alone only ticks some of the boxes. To truly prepare yourself for life in your desired industry, work experience is vital. Paid internships are the perfect way to develop new skills, gain insight that could aid your studies, and meet new contacts. The fact that you’ll be removing some of the financial pressures in the process is simply a bonus. Above all else, this background in the industry will serve you well when seeking future graduate roles.

Build Extra Income Streams

In addition to an internship or paid role elsewhere, you should aim to increase your earnings through alternative methods. Every dollar helps, especially when the efforts won’t impact your studies. Becoming an investor or trader can be a particularly useful solution, although you must accept the potential risks too. Meanwhile, completing surveys or playing esports can help you earn money in a more recreational manner. The options are plentiful, which is why there is no excuse for missing out.

Borrow Wisely

Unless you are lucky enough to secure a scholarship, college tuition fees will hit you hard. For most, borrowing money via a loan is the only viable solution. If you are going to take this route, however, it’s vital that you use a lender that understands the student situation. This Lendkey review shows the importance of choosing a suitable lender while pinpointing the key factors that you’ll need to get right. Aside from the financial rewards of making the right selection, the emotional reassurance can make a world of difference. If nothing else, you’ll be ready to concentrate on your studies.

Spend Money Efficiently 

Accessing funds is great, but it’s important to remember that your finances are far from unlimited. Aside from tuition fees, there are various living costs to consider. Saving money on daily overheads will make a world of difference to your situation. From using coupons with Couponmom to buying used books from past graduates, those savings are key. Meanwhile, it’s always worth asking stores whether they offer staff discounts. When combined with improved lifestyle habits, like trading takeout foods for pre-packed lunches, you will see an impact.

Build Your Credit Score

Budgeting is a vital element for all students, especially with regards to social events and luxury items. Nonetheless, you will find yourself using credit options for some purchases and services. Therefore, finding ways to build your credit score as a student can be the key to seeking better deals. This will follow you into grad life too, which could be crucial in the first year or two of being a fully independent worker. Just remember to avoid bad credit, and dangerous items like store cards, and you should be fine.

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How To Be Better with Money and Turn your Life Around

There is more to money than just trying to make it through the month. Most people find it difficult to budget properly and this causes them real problems, especially when payday is just around the corner. If you want to put an end to this and all while having good financial skills then don’t just sit back and let the same thing happen every single month. Get up and make a difference, it could change your life!

Always Think and Be Aware of Your Finances

You may find that you face situations every single day that call for you to spend money. This could be buying a coffee or it could even be having a bet with a friend. It’s important that you don’t just assume that you can afford something. You need to know that you can afford it and that you have not already got those funds wrapped up in something else. It may seem like a pain to check your budget every single time you want to buy something, but there are actually plenty of money-saving apps out there that can help you to do this and you don’t even need to spend a long time sorting it all out either. It’s important to know that just because you have money now, that doesn’t mean that you can spend it.

Budget Properly and Stick To It

A lot of people don’t budget because they can’t face the thought of going through their finances every single month. If you aren’t good with money however, then it is more important than ever for you to budget and you really do have to make sure that you do everything you can to stick to it as well. Update your budget as you pay off any bills and give yourself a budget when it comes to your unbudgeted spending. A lot of people think that if they have a budget, they can use whatever is left after their bills for their own spending.  This should not be the case at all, and if you have any money left over you should set yourself a set amount for unbudgeted spending. The rest can then go into an emergency fund, so you don’t find yourself short at the end of the month.

Limit your Credit Card Usage

When you are low on money, you may find it tempting to go and look into personal loans online and even credit cards. This is a great way for you to pay off any high-interest cards and it is also a great way for you to get things back on track with your payments, as long as the interest rates are lower than what you’re paying right now.

There are plenty of ways for you to get your finances back on track, and if you go to the right loan provider or sign up for the right credit card then this can really help you to get things back to how they were. The main thing that you have to take note of here is that if you can’t make the payments, you may find yourself in an even worse situation, so be smart and don’t let your credit card balance get too high without paying it off.

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Smart and Surprising Ways to Save More Money

From new clothes and vacations to birthday celebrations, it seems like there are almost endless opportunities to spend money, and too few to save. However, that isn’t really the case, and you can save more money than you spend if you get your priorities straight and you do some of the following smart and surprising things to save you more money…

Get an App

Sometimes, saving more money can be as simple as downloading an app. Mint, for example, is an excellent app which allows you to keep track of your spending, savings and even investments, so you know where you’re at and what you can do to save more. It is also really good at helping you to stay on budget.

Fix Your Credit Score

Why should you fix your credit score? Because the higher your score is, the easier it will be for you to access lower interest home and car loans, for example. If you need to access these sources of ‘good debt’ then you’ll benefit from a good score.

How can I fix my credit? You can do numerous things from settling old debts to paying all of your credit cards, loans and bills on time. It really depends on what your current situation is, but make sure you do what needs to be done because it can be of huge benefit to your life.

Buy Produce in Season

Want to save money on your groceries? You can save a surprising amount of money by simply buying fruits and vegetables when they are in season. Because they are more plentiful, they tend to be cheaper and have a longer shelf life than out of season foods, which means you can save money on two fronts.

Take Out a Loan

How does taking out a loan save you money? When it’s a debt consolidation loan to clear your debts and lower the amount of interest you have to pay annually. If you have various debts, it is definitely worth looking into such a loan because not only can it save you money, but it can make managing your finances a whole lot easier too.

Be a Little Risky

I know a lot of people are hesitant to risk any of the money they have earned, but really investing in stocks, shares, commodities or even real estate is a pretty smart way to save more money, not least because, if you play it smart it will increase your capital by a little, or hopefully a lot.If you don’t know where to start with investing, ask a financial adviser to help you out. If you tell them you’re pretty risk-averse, they won’t advise you to do anything too scary.

Switch to Streaming

A lot of people are surprised when they hear that they can get a number of streaming accounts, including Netflix, Hulu and Amazon Video for a fraction of the cost of cable, making it a smart and surprising way to save more money. It’s also one that doesn’t see you losing out on anything.

What are your top tips for saving more money?

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The Guide To A Cost-Effective House Move

Moving house is a costly affair, and you likely don’t need to be told that if you’ve already given it some thought or done research into the matter. Of course, if you have to leave your current home for whatever reason then you probably feel backed into a corner. There’s no way to avoid spending a fortune on moving house, right? Well, not necessarily. Yes, it’s going to cost you money, no matter what you do, but there are ways to ease the financial burden. Here’s the guide to a more cost-effective house move.

Upsell your current home.

The best way to make your house move as cost-effective as possible is to build up as many funds as possible towards the process. And seeing as you’ll be moving from one home to another, the most valuable asset you’ll have to sell is your old home. You should be aiming to make as much money as possible from the sale of your current house so as to increase your “house move fund”. Get into the mindset of a property developer, and think of ways to increase the value of your current home. You could move your belongings to storage before you move so that you can give your house a minimalistic design. If you remove signs that the property has been “lived in” then buyers are more likely to see themselves living there. Spaciousness and minimalism are timeless and effective design features.

Sift through your belongings.

The best way to have a cost-effect house move is to sift through your belongings so as to cut down the number of things you’ll be bringing with you. You’ve probably built up a cluttered collection of personal possessions over the years, but do you really want to keep all of these things? Dragging your clutter to your new home isn’t a good way to start. You should look through your belongings and throw out anything you don’t want or need anymore. If you sell anything of value then you can raise money that could go towards easing the cost of the rest of the house move.

Additionally, decluttering your house will make moving easier. That way, when you look into movers to help you transport your belongings, it’ll be a simpler and more cost-effective process (quotes are based on how many things need to be moved). This explains the process of hiring a particular moving company. You’ll most likely need help from professionals because you don’t want to damage or lose any of your possessions whilst moving to your new home. Whatever your situation, the fewer things you own, the less stressful the whole process will be.

Cut ties with providers before you move.

Obviously, you can’t give up electricity or water before you’ve moved house because those are essentials. However, you should aim to cancel the service for your landline, WiFi, or cable a couple of weeks prior to moving because it takes a while for such services to cancel. You don’t want to waste money by paying certain bills for a couple more weeks when you’re no longer living in the old house. Anything you can live without (say goodbye to YouTube for two weeks) should be canceled. You might not save a lot of money, but it’s something.