smart money strategies
How to Get Ahead Financially
Balancing your budget helps insure you are able to meet monthly expenses and build savings. But this can be a challenge, especially given all the costs that come with college. If you find yourself struggling just to pay your basic expenses, like your dorm and food bill, what’s the best thing to do?
- Use a credit card to cover expenses you can’t afford outright.
- Use student loan funds to pay for nonessential items you want.
- Look for ways to increase your income and reduce your expenses.
If you guessed “C,” you’re right. Using credit or student loan monies to cover day-to-day expenses may leave you more financially vulnerable than ever. Increasing your income and/or cutting back on how much you spend can help you free up money to pay what you owe and build savings without added risk.