Set : Managing Your Money
In order to afford college, you will need to know how much it will cost. You may think of tuition, room and board (where you will live and your food), books, transportation, and supplies. Some of these costs you can’t control, such as tuition. However, you can learn to live on a budget and keep costs down on the items you can control, such as transportation and food.
You can also help your future self by saving money now. The earlier you start saving money, the closer you’ll get to your savings goal. Talk to your family about savings accounts, federal savings bonds, stocks and mutual funds, college savings plans, and the other ways they can save. If you earn money by babysitting, mowing your neighbors’ lawns, or something else, practice setting up a budget of how much you’ll earn, how much you can spend now, and how much you want to save in your bank account. If you don’t already have an account with a bank or credit union, talk to your family about starting one.