Student #1:
In college, it is hard to balance going to school and working at the same time. It has been said though that
those college students who work do better in school than those who do not work. I believe that is true. Those
who have to work for their schooling learn to appreciate getting an education. Throughout college, I have
learned that saving money is particularly hard when you have so many little things to purchase to survive.
Because a student works so hard, I believe that everyone should at least save up for something they want to
buy in the future or maybe plan a trip to take a break from school. One way I have done this is by savings a
certain percentage of a paycheck for “fun money.” This could include little things such as going to the
movies or a big thing such as a trip to California or Vegas. Everyone deserves a break. I feel as a nation, if
someone sees that they have access to money so easily, then it is easier for them to spend. Therefore, I
have devised a strategy that has helped me save money and is not so easily accessible.
First, think of a certain percentage that you can use from your paycheck that you can set aside for savings. I
small percentage but not so overwhelming percentage could be around 5-6%.
Check out local banks and credit unions either around the area, or online banks. I personally have chosen to
bank with USAA bank. They’re an online bank where it makes it hard to access savings. Open up an
account with someplace that you know will not be easy for you to access the money.
Set up with your employer, bank or credit union an automatic deposit of that percentage into the account.
Watch your money grow!
Let’s say you get paid $1000 a month. If you take 5% of that $1000 and put it into a savings every month,
you will eventually obtain $600 a year in savings! If you are in school for four years, you will have saved
$2400 in four years. That is plenty enough to splurge on a nice vacation and buy things that you could not
buy in college!
By doing these things, a college student can successfully save money. It is harder to get access to your
money when you put it aside somewhere safe where you have to go out of your way to find.