Wednesday, September 21, 2011

How can you save money at the end of the semester?

A reader writes:
"I'm on financial aid and scholarship at my school, but that still means I spend thousands on textbooks, housing, and food. Could you do a post on how to save money at the end of the semester?" 

I got this question before my eye surgeries toward the end of last spring semester. I'm answering it now because the time frame does not actually change my answer....

Based on your question, I suspect that you were looking for some ways to make "easy money" at the end of the semester. Unfortunately, money certainly doesn't work that way for low income college students. Honestly, saving money at the end of the semester starts with saving money at the beginning of the semester!
Photo credit: http://qxmail.com/wp-content/

The two most important things you can do to help yourself financially toward the end of a semester is to stick to a budget all semester long and pay yourself first as soon as your get a paycheck, scholarship or loan disbursement, or financial aid refund by putting some money into savings. These two things will help you avoid being cash poor at the end of the semester.

To help you save along the way, you can always save on your entertainment costs, save on buying gifts, and make sure you look for deals when getting textbooks. You can also make money by selling your textbooks at the end of the semester. Some students even go as far as to sell their furniture, clothes, electronics, and other stuff when money is tight.

Really, though, there are no tips to make easy money at the end of the semester. Like I said, planning ahead at the start of each semester will help you survive financially toward the end of the semester.

Got questions? Please feel free to ask The Advisor about it.

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