1. Set up a student bank account.
Entering college comes with many new responsibilities, including being accountable for your money, whether acquired from your parents or from your own efforts. Setting up a bank account is a good place to start! Keep track on a regular basis of what goes in and what goes out. Balance a checkbook! Also, make sure you understand all of the account fees and their justification before signing up. In addition, setting up an account will make it easy for your parents to send you money; the best way to do this is to find out what banks have branches located on your college campus, and then see if any of them also have a branch in your hometown.
2. Learn to budget your expenses and don’t overspend.
Make a budget and stick to it. Here are some small ways to get the most out of what you have:When you go out to eat, order an appetizer. Appetizers are usually meant to be shared by a party of four, yet are cheaper than an entree.
Buy as much food as you can in bulk (from Costco, COST 0.00% if you can), and don’t waste any of it. If fruit starts to go bad, then freeze it and make it into a smoothie later.