Eureka! You finally made it. The days of ramen noodles, stiff dorm rooms, and cheap living is over.
The question is, are you one of the lucky few that managed to escape college unscathed? Perhaps you still have a while to go in your studies – but you are trying to figure out how to keep the debt shackles at bay?
The scary thing is 71-percent of all graduates who leave college have a loan to their name.
The life of a student is tough. No one enjoys sacrificing the good things in life just to afford the basic necessities.
The good news is through this article we aim to show you how you can get to that Eureka moment in your life, without the constant weight of student loan borrowing down on your shoulders.
So whip out your pencils, and let’s get started.
How Lame – The First Thing To Do Is Create A Budget
I know, trust me. Budgets really blow. Not only are they annoying to set up, but it’s almost impossible to stick to, which leaves you feeling guilty every time you go a few pennies over budget.
But that’s the entire point to it.
In truth, budgeting is almost impossible. In fact, only 30-percent of Americans bother to set up a budget.
But the entire point of a budget is to give you a sense of value behind the money you are spending. That guilt you feel for going over budget is fantastic, because it keeps you from overspending and blowing the bank to smithereens, get it?
Here is a step by step article showing you exactly how to set up a budget suited for the college life.
Ramen Noodles Just Doesn’t Cut It, Ya Know?
As a college student, in the beginning – it’s all about living cheap. Ramen noodles, toasties, and anything else cheap but somewhat good.
But over time, it really starts to get dull, and your body craves something different.
Which is where fast foods enter the picture. Which is pretty much the equivalent of your budget’s mortal enemy.
So what’s the solution?
Instead of feasting on delicious ramen, grab a cookbook. Cooking in bulk will not only help you save a fortune in the long-run, but you will also be developing a skill that will be needed until the day you graduate life.
Heck, let me make it easy for you – here is a starting guide with a couple of recipes you can try out.
Start Working On Your Credit Record Now For Later
Want a car? Want to buy a nifty laptop, or anything expensive for that matter? Don’t want to land up in debt because of it?
You need a credit record.
You know, that thing that tells lenders whether or not you are a risky buyer. If you plan on any investments, you really need to get cracking on building up your credit record as quickly as you can.
How does this help with financial freedom?
Well, more and more Americans are turning to loans in order to help cope with the month-to-month expenses of living. With the rapidly increasing prices, it’s almost impossible not to rely on some form of quick cash.
The problem is low credit means higher interest. The better your credit record, the better deals you can get when taking out loans.
Some suggest taking out a credit card to help build your credit. But personally, I believe a credit card is a one way ticket right down to debt street. I would suggest going with something less risky such as getting a personal loan, and keeping the sum to pay back in full.
Scholarships Over Student Loans Any Day
It’s always a daunting task when scholarships come into the picture. After all, this is only for the elite right? The kids who have their A game on.
The entire point of bursaries, and scholarships is to help kids who need funding. Instead of taking out a student loan to pay your college debts in full – first exhaust all your other options.
Go to your finance office at college, ask them for the necessary forms to see if you qualify. What’s the worst that can happen, you get rejected?
Don’t Be Afraid Of The Hustle
Nothing irks me more than hearing someone complain that they work to hard. Well, when they work a 9-5. Or when they attend a 2-hour seminar in the morning and slack off for the day, completely blowing off their studies.
I am sure you know what I am talking about.
The truth is no matter how hard you work, there is always someone out there working harder than you.
If you really need to take out a student loan, and you don’t want to leave college tied up in debt – get a job. Start your own freelancing career – jump on the blog ship.
We live in the digital era. It’s ridiculous how many different ways there is to make money now days – all you need is dedication, determination – and of course, to not be scared of a little hard work.