How Do You Stay Afloat Financially?

Hey lovelies, how are y'all doing? Today I am going to be sharing with you some tips

to staying debt free in college. I hope you are able

to learn a thing or two from this. :) 

The first thing every college student needs to do in order not to go flat broke the day after resumption is to be on a budget. As you make that transition from high school to university, you will find that you are taking on a lot more responsibility than you previously have, and the best way to keep your finances organized and in check is to create a reasonable budget and stick with it.

Making a budget may seem daunting to a lot of people but is actually easier than it seems. The spending pie chart is a great way to go when creating one but if this seems confusing, I will be making another post giving step by step details of how to create a budget. Keep in mind that the most difficult thing about a budget is not the work that goes into creating it, rather, it's the willpower to stick to it.

..or get a prepaid credit card. If you have any credit card in your name, there is no better time than now to put a pair of scissors to it and do the needful. Don't get me wrong. I am not trying to pass the message that a credit card is the devil's offspring. In fact, a credit card is good in the sense that it helps you when unforeseen circumstances come your way. So if, for example, you find yourself suddenly in a bookstore faced with the last copy of a textbook that you really need, you can buy the text book on credit if you are sure you would be getting money the next day to pay it off. If, however, you don't see yourself paying back the money in the next 365 days, please don't bother with the book. Borrow from a friend instead. 

Another thing college students tend to do is use their credit card like it is a source of income.

We often times fall into the trap of making SEVERAL purchases on the visa so that when it comes the time to pay it back, the sum is so intimidating that we shy away from it. We do this forgetting that every penny you put on your credit card accumulates interest every month and that initial amount you shied away from could only become something bigger if it is not taken care of. You have to recognize that credit cards are enablers. They give you the option of living above your means. The onus is on you to say no to self-deceit. You know what you can afford so stay within that range and away from the credit card. 

If you are anything like me, you always want to make sure everyone around you is happy even if that means making certain decisions you know very well you shouldn't be making. While having friends that are fun seekers is cool, the spending that comes along with all that fun could lethal to your pocket. Again, look at your budget and examine carefully the amount you have set aside for fun. Limit yourself to that amount or say a flat out "no, I can't afford it" to the invitation to spend money. Always keep in mind that at the end of the day, if you are in debt, it is your debt and your friends will not help you out of it!

I hope you are able to apply these to your life. Wishing you a debt-free, money-full college experience.