CREATE A PLAN FOR FINANCIAL SUCCESS ENTERING COLLEGE College requires a lot of work; in addition to several exams and papers, there are also new social situations to learn how to navigate. But despite how challenging it sometimes seems, you are actually living a reasonably carefree existence at this point. As long as your job gets done and you’re taking care of your health, you’re pretty much set. You don’t yet have the duty of running a home or caring for a family, nor do you have a career that you need to maintain. Due to this, now is a wonderful moment to invest in your future, namely your financial future. Here are a few approaches you can take.
: BEGIN A SIDE HUSTLE
A side business can be started in college. Yes, this is a hectic time in your life when you’re studying and socializing a lot, but you do occasionally have time to yourself, and you should make the most of it. Why not set up something that you can work on over the next few years instead of watching Netflix repeats in your dorm room or scrolling through social media when you’re bored? This might be an dorm room business , a blog, or a YouTube channel. You can fit these kinds of adaptable side jobs around anything else you’re doing, and after a few years, you could have a strong following. By the time you go, you will already have a source of income that you can use to supplement whatever post-graduate employment you may obtain.
GROW YOUR MONEY BY INVESTING IT
Put whatever money you earn from a side business—or any other source of income—right away into a savings account. While you still have the chance, live on a tight budget, enjoy being a broke student, and use any extra money to start saving. By the time you depart, you might have amassed a sizeable sum of money that will be quite helpful as you transition into independent adulthood. Even better, consider investing and learning how to maximise your investments return where it can keep expanding for many years. Your expenditures and expenses will probably increase once you graduate from college and move out into your own place, making it harder for you to save as readily as you can today. Make the most of it since over the duration of your college career, even a few bucks a week will add up.
ACCESS SKILLS
Finally, make the most of your undergraduate years to obtain experience in the field you wish to pursue. If you’re pursuing a degree in the health field, you might consider volunteering in a hospital; if it’s in the social sciences or psychology, you might look into volunteer positions with the police, courts or probation services opportunities. Even one hour a week can be quite helpful, and it will make you stand out from the competition when it comes time to apply for postgraduate positions after you graduate. College students may easily fit these kinds of activities into their schedules, but many don’t realize their potential benefits.
