Tag Archives: college budgets

college

Savings Hacks for College Students

While college remains one of the best ways you can invest in yourself and your future, it doesn’t change the fact that the costs of attending college only continues to grow. Focusing on your education should be your top priority while you’re in school. However, developing strong saving habits can not only cut costs while you’re attending college, but those habits can also help you be more responsible with your money once you’ve graduated.

Set a Budget

While this may seem simple and obvious, creating a budget is the first step in any successful savings strategy. Outline what your monthly expenses are, including things like going out with friends on weekends, and figure out how much money you have. If you’re working while in school, your goal should be to have your income be more than your expenses. If you’re living off money you made during the summer, figure out how much you can afford to spend so that it lasts you throughout the entire year.

Saving on Supplies

While your school’s bookstore may have the latest and greatest when it comes to logoed swag, shopping there won’t help you when it comes to saving money for your school supplies. When it comes to notebooks, pens, pencils and backpacks, you’re much better off going to a local big box store.

Additionally, buying new course textbooks from the campus is usually more expensive than exploring other options. Whether it’s purchasing a used copy of the book, using an older version of the text book or exploring book rental programs online, finding alternative textbook solutions can save you hundreds.

Getting a Part-Time Job

Even if you’re considered a full-time student, you probably have some free time outside of attending classes, doing your homework and studying for exams. If you find yourself with extra time, getting a part-time job is a great way to earn extra money and start saving. If you can find a job on campus, you can save money and find a job that will work with your class schedule. But, don’t be afraid to look for a job off-campus. Just be clear with any potential bosses about what your class schedule is and set realistic time expectations for yourself.

Develop a Strategy that Works for You

There are countless ways to responsibly save while you’re in college. All you need to do is develop a strategy that works for you, and stick to it. We hope these tips will give you a good starting point that can help you develop strong savings habits that will serve you well throughout your life. Place your new savings into an account with us – we’d be happy to help your money grow!


Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

Finding Financial Success as a New College Student

Prepare yourself for college with these financial tips for new college students.

Prepare yourself for college with these financial tips for new college students.

 

You’ve purchased your dorm room furniture, met your roommate and have your fall class schedule in hand, so you must be all set for college, right? Think again!

Going off to college is a major life changing event as you are one step closer to entering the adult world. Part of being an adult is responsibly managing your bank accounts. Peoples Bank & Trust wants to make sure you are supplied with the tools necessary to find financial success as a college student.

Consider this “off to college banking checklist” to before you head to campus this fall:

  1. Set up a checking account. Set up a basic checking account with a debit card. This is an easy way to get introduced to banking responsibilities without having to worry about additional payments and bills. Peoples Bank & Trust offers a variety of checking accounts that you can choose from.
  2. Learn how to balance a check book. Once you have a checking account set up, understand how to balance your transactions and follow your accounts. It is much harder to know how much money you have if you use a card rather than cash, so it is important to track your checking account to prevent overspending.
  3. Understand check writing basics and how to pay bills. Depending on your living situation at college, you may need to make rent and/or utility payments. While many landlords and utility companies offer an online payment option, knowing how to write and send a check is still a very important skill to have. Making regular and on-time payments is the base of building good financial habits.
  4. Access online banking services. In today’s world, we understand that you are more likely to do your banking from your phone rather than physically going into the bank. You can access, make transfers and manage your accounts by utilizing Peoples Bank & Trust’s online and mobile banking services.
  5. Create a budget. At this point, your financial goals are probably to eat dinner tomorrow night and to pay for school. However, taking time to sit down and creating a list of your financial goals can help you create a budget that is realistic for you at this time in your life.

We hope that you have a great first semester of college and are able to find success managing your money! You are always welcome to contact Peoples Bank & Trust if you have any questions or concerns.

Peoples Bank & Trust

Equal Housing Lender

Member FDIC