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Apr 13

Teen Tuesdays: Money Smart College Tips

Posted on April 13, 2021 at 12:00 AM by Elizabeth Land

Staff Note: The author of this article is in no way a financial advisor, college advisor, or professional in this field. All the information provided in this article comes from college-life experience and reliable Internet resources.

Money Smart Week is April 10-17, 2021It's Money Smart Week! Celebrated April 10-17, 2021, libraries across the country are highlighting financial tips for all ages. So for this week's Teen Tuesdays post, we wanted to share an important financial topic for all of our teens and tweens: College finances.

For some of you, high school is coming to a close; for others it's just starting. Even if you aren't reaching the end of your high school career, many of you are already considering heading to college. Before you begin packing, here are some easy tips on how to save some money.

  1. What to skip buying
    • Cars — Many schools don't allow underclassmen to have cars, especially if you live on campus. By not buying a car, you can save quite a bit of money on costs like gas, registration, parking, and insurance.”1
    • New Textbooks — Many colleges are moving toward e-books. If your college is still going with traditional textbooks, save money by buying used or discounted. Remember, your campus bookstore may not offer the lowest prices available.”1
  2. Save money while in college
    • Check out this handy resource to learn how to save money on: Housing, food, tuition and supplies, transportation, entertainment and more!2 Follow this link to read more about money saving tips with financial expert, Anthony ONeal.
  3. Food finances
    • Avoid junk food — Freshman 15 is no joke. Most young adults who take control of their eating habits for the first time at college often times go overboard. Don’t waste your money on empty carbs and sugary foods just because you can.
  4. School Options
    • 4 year schools — Great for students seeking careers that require 4-year-degrees and students who don’t know what they want to do yet.
    • 2 year schools — Great for students seeking careers that require 2-year-degrees and who want to avoid 2 extra years of unnecessary student debt.
    • Trade Schools — Great for students who know exactly what job/career path they want and it usually only requires a high school diploma or GED. Follow this link for more information.3
All this information can be very helpful, but also overwhelming. For more guidance check out our Money Smart Booklist with a few resources accessible at the York County Public Library. And don't forget to check out ALA's Money Smart Week website for a webinar on federal student loans, as well as resources focused on other topics.

Sources:
1.College Spending Dos and Don’ts” by Miriam Caldwell from “The Balance.”
2. How to Save Money in College” by Anthony ONeal.
3. Trade School vs College – What’s the Difference?” by Northeast Technical Institute. 

Tag(s): Tips, Teens, Money, Finances