***SIMILAR TO THE “MANAGING MONEY FOR COLLEGE” ARTICLE****

1. Don't wait in starting that account/investment. By saving a little money aside from a paycheck, a student could potentially accumulate enough funds to cover textbooks, dorm supplies or flight costs. I would suggest beginning a savings account (if you do not already have one) by the start of senior year.

2. Try to start accounts at small, local banks/credit unions for lower interest rates.

3. Try to set up an automatic withdrawal from your paycheck for your savings account. It’s a great way to ensure that your account is growing and you won’t feel the loss of funds as much. You’ll also be more adept at planning/paying for things around this automatic payment.

4. If you are interested in investing, owning stock under AMD, EFT or mutual funds under an IRA are a good start.

5. Continue to apply for scholarships even after application season (even if awarded with a full-ride) to cover miscellaneous costs (travel, clothes, etc.).

Ways to pay for College:

1. The Rule of Thirds is a method to look at college expenses more efficiently. It divides college expenses into thirds, one third of the cost of college should be paid through savings, another third should be paid for through current income (month to month, paychecks, etc.), and the last third should be paid for through loans.

2. 529 college plans is a popular way to save for college.The money in these accounts are tax-deferred. When the money is used to pay for a student’s tuition for either undergraduate or grad, parents are not required to pay taxes on those funds.

3. A prepaid tuition plan is a for parents of in-state public university students. This plan allows parents to pay for tuition in advance at a set price.

4. Other accounts to look include include ROTH IRA or UTMA accounts.

Ways to Save Money While in College/during application season:

1. Email schools in advance to see if they’ll accept PDF/counselor-verified versions of test scores to avoid the extra costs of sending official score reports.

2. Don’t send AP Scores to colleges unless you are enrolled there.

3. Email materials (if allowed) instead of mailing (may be more expensive) or faxing (may be more expensive/documents could get mixed up with another party’s)

4. Don’t buy new textbooks, borrow from friends, upperclassmen or use websites or library PDFs.

5. Use campus amenities or anything free that they offer students.

6. Buy food and supplies in bulk.

7. Wait for back-to-school savings/tax-free weekends in the US to do most of your shopping.

8. Use Coupons.

9. Sign up for store cards (like at Kroger) for discounts, different from applying for store credit cards.

10. Try to bring as many clothes to college as you can, or buy more on campus, in order to avoid having to spend so much on laundry.

11. With Credit Cards, to not spend more than a third of your credit line at a time.

12. Try to gain access to possessing your own credit card in college, building credit score at an early age can give students a leg-up in terms of securing job offers/loans.

13. When utilizing a credit card, buy items you would buy regularly with cash and then pay it off immediately/by the end of the month.

14. Have at least three credit accounts open by your mid-twenties (with each bill being regularly paid off), one (youngest) of which is used for regular, daily purchases, the other (older) for bigger purchases (appliances) and the oldest account for huge purchases (housing, car payments, etc.). Or have separate credit cards to separate business expenses from personal expenses.