In our culture, we usually don’t worry about our finances, because we think we have our parents back to support us financially until we get a job. In college when we start living on our own, still many o us worry least about our financial planning. We see College as a time for finding our passion, charting our career path, and, of course, partying. But very few value the act that financial decisions we make in college will reverberate through our life for years, even decades.

As we say we know a lot more secrets to living a financially balanced lie we still choose to avoid the future outcomes to get that instant gratification. We consider being broke as a college experience and fashion. But still many of us know how few of our friends were so good with their money management skills. Like all the qualities students who manage their money are really cool and smart. Considering it to be one o the important fact, College is a great time for us to learn several skills to build our life our own, will it not be better to learn money habits that could serve us or the rest of our lives. It brings you the practicality to utilize your money if you land a job. So college is the perfect time to learn financial skills.

Here are some ways mentioned on how you can manage your money effectively in college:

 Save from your monthly expenses, we all get some amount of pocket money on monthly basis, will it not be good If we open our savings account and transfer our money in that account, and you could also get interested over it.

A great goal for a student is to leave college without credit card debt,

If you don’t repay what you borrow in full every month, you’ll fall into a debt trap and potentially ruin your credit score for the future. “. Five or 10 years from now, when you have a steady income and money in the bank, a credit card will be a great tool for making purchases conveniently, and for building your credit score. Now, though, a credit card can be hazardous to your financial health, if not managed properly. For unprepared consumers, credit cards come with a potentially huge downside leading them to a hefty amount of debt.

“Use cash for big purchases, because it’s going to feel like you’re spending money.”

Spend less than you earn, this should be the simple motto. These basics of financial planning deceptively Spend less than you earn and save for the future. Basic though this advice may be, living within your means is easier said than done. But as an adult, we unsee this act always. In order to live a lavish lifestyle, we often pretend to be super-rich which we aren’t. It has become like our lifestyle controls our money, and this could be very difficult.

Insurance is another must. You’re unlikely to face hefty medical bills, but hospitalization is so costly that it can be financially devastating for you and your parents. They’re typically not as generous as insurance from a private carrier, but the premiums tend to be affordable, so the plan might make sense for you

So If you are someone who is running out of money at the of the month, it is advisable for you to look at your spending habits. The little you save adds up. You could avoid going to parties every weekend. And If you really want to control your money matters, take a hard line step and decide what you actually need than what you want.

No need to update your phone every 6 months or in every year, cell phones are really expensive. You could buy a cheap one If you truly need one. Keep your receipts or mark down each purchase, then enter the figures into an Excel spreadsheet.

This how you keep track of your money and it always reminds you where you are wasting your money.

 As it is said, Ramen now, filet mignon later. In other words, sacrifice now for rewards later.

One life.Live Boundless