Set : Managing Your Money
It’s important not just to save up for college tuition and classes, but for the other many costs associated with your education. These can include mandatory fees, room and board (rent and food), books, transportation, and supplies. You can’t control the price of tuition or mandatory fees, but you can control the others by becoming financially literate, saving money in advance, and learning how to save on the other costs. For example, you can save on books by buying used ones rather than new!
Set a savings goal and figure out how you can achieve that. 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.