25 Money Management Tips
Every College Student Should Know
Financial Wellness tips from
CashCourse and
LiveWell UC San Diego
Take Charge of Your Life
and Your Money
#1- Create a budget and stick to it
– Know how much your monthly income is and your
mandatory bills
#2- Get organized
– Save important documents, review your accounts online
#3- Protect your personal information
– Make sure to shred all documents with personal
information like your SSN
Banking
#4- Find the best deal for your
checking account
– Look for free checking and no
minimum balance
– Find an institution that will match
savings deposits
#5- Don’t bounce checks
– These can hurt your credit history
– Before paying bills or making
purchases, check to make sure you
have the funds for it
Saving
#6- Learn about savings
and investment options
– Money market accounts,
CDs, bonds, and mutual
funds
#7- Get into the habit of
saving
– Learn to set aside an
amount every month into
your savings to earn
interest
Financial Aid and Loans
#8- Keep looking for financial aid
– Just because you didn’t qualify your
first year, doesn’t mean you won’t
ever qualify.
– Submit your FAFSA each year! You
can update your FAFSA if your
financial situation changes during
the year
#9- Use loans as a last resort
– If you do need to take out a loan,
make sure it is subsidized (you start
paying interest after you graduate)
#10- Look for an on-campus job
– Flexible hours, great staff, and convenient location!
#11- Take time now to prepare for your career
– Find internships, prepare your resume
#12- Turn a hobby or a skill into a money-making
endeavor
– Baby-sit, design your own clothes, fix computers,
photograph a friend’s wedding or special event, or
tutor!
Cutting Expenses
#13- Use campus computers instead
– If you can do without a laptop, there are lots of computers to use on
campus– for FREE!
#14- Take advantage of student discounts
– No need to pay $11 for a movie when you can see it at Price Center for $3
#15- Plug everyday spending leaks
– If shopping is your thing, check out thrift stores!
– Cut back on the number of songs you download and stream music for free
with programs like Pandora
#16- Set ground rules regarding money
– Talk with your apartment-mates about how you
will split utilities or food
#17- Pay the rent on time
– You will avoid late fees and earn points with the
landlord!
#18- Save on snacks
– Bring your own food to school and avoid vending
machines
#19- Separate needs from wants
– When it comes down to it, paying for school and
mandatory bills (like rent) should be priority #1
#20- Ditch the car
– Parking on campus is expensive, not to mention the
other costs of a car. Opt for FREE public transit instead!
#21- Resist peer pressure
– You really don’t need the latest gadgets
– If a friend wants an expensive night out, suggest a fun,
cheap night in!
Manage Your Money
#22- Keep track of your money
– Whether you balance a checkbook or
review your accounts online, make
sure you know how much money you
have
#23- Avoid credit card schemes
– Students really only need 1 credit
card.
– Pay balances on time and as much of
the whole amount as possible; that
will boost your credit score
#24- Re-think credit cards
– Think of your credit card as a loan.
“Would I really go to the bank and
take out a loan for this?”
– Don’t use a cash advances unless for a
SERIOUS emergency
“HELP!”
#25- Get help if you get into debt trouble
– The Financial Aid office can counsel you in your
options
– fao.ucsd.edu