Tips to maintain financial well being--for college students

 With the high rates of tuition, college leaves many people in debt, especially those who don't get the full value of their education. You can make it through college with the least debt possible if you plan your college career accordingly and make buys reasonably. Here are some tips that if you follow extensively, may help you make it through college without taking out much or any loan money at all:

Picture from Fastweb's "How to Avoid being a Broke College Student"

• Look ahead on your budget and know what is coming up, and plan financially for what MAY potentially come up. 

• Make big valuable purchases. Making a lot of small purchases will make it harder to keep track of your transactions as well as cost you more time. We all know very well that time can translate to money. Making big purchases will also save you because most things are cheaper in bulk and you don't have to reload for a while.

•  Know all your benefits, as a college student get the full value of your education. Make use of on campus facilities that you are already paying for as part of your tuition. you can be losing money just because you are not aware of what you have and own and what benefits your job offers (if you have a job.)

• Have an educational planner or a budget planner that you use. These things help you organize your time as well as keep track of how you spent your resources. You can do this electronically or using a notebook.

• Work hard, play hard. Give yourself a good long period of working and making profit until you have reasonable earnings, then give yourself a period of more free spending and reap the fruits of your labor. Buy whatever it is that you enjoy video games, new clothes, exercise equipment or a new car. Rewarding yourself will inspire you to go back and work harder. 

• Look at time as an investment, look at every transaction you make as an investment. Is a product really worth the time and money to you personally? just because it is esteemed in the market, doesn't mean it's for you.    

•  Don't be afraid to make big buys on products that are suitable for you. Prioritize your budget so that you have what is needed first at the large base of your economic pyramid, and luxury and entertainment expenses at the tip top. According to many financial experts a good financial pyramid is made up of three main parts. Risk management or protection of your most valued resources at the bottom big chunk of the pyramid. wealth accumulation in the middle and wealth preservation and distribution in the top smallest chunk.