In 2015, many people dream of getting their finances in order. While it can feel overwhelming there are ways to make small changes today that will help you make big shifts in the future. Today’s I will give you four quick tips to help you become more financially stable, even while attending university.

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These four things, while they can be common knowledge, are a good basis for starting your base knowledge of money. These things are narrowed down from a list of 32 things that financial consultants want you to know about growing your money. learning and talking about money, protecting what you have, and spending wisely.

1. Live within your means: I know that you may want a nice bag or those new pair of shoes, but save for them instead of buying them with a credit card or paying for it in installments. It’s good to spend with money you have versus money you don’t have. You never know what will happen down the line, so be prepared and spend within what you can afford. Plus the interest rates on some credit cards are insane.

2. Have adequate insurance: As a college student you may not think about insurance as much, but it is still important to have good coverage and make sure that the insurance you are signing up for covers what you need it to cover. Nothing is more horrible than wanting to cover loss of your own property and finding out all you have is a liability plan. You don’t want to be over insured, but it is good to have insurance on all your nice belongings such as cars, your apartment, and more.

3. Have an emergency fund: Starting an emergency fund is as simple as starting a savings account with your bank. Being able to depend on your own funds when you need to buy new tires or you need to buy a new car battery would be much better that buying these things on credit. Your emergency account should not be linked up to your checking account. It is important to only use these funds in an emergency. So having the funds a little out of reach is not a bad thing. Ally Bank is an online bank that is perfect for emergency funds. You can automate your checking account to deposit a set amount of money from your checking account each month. That way you never forget.

4. Lower debt: As soon as you turn 18 the credit card applications start flowing in. Stop falling prey to these advertisements. Don’t get a credit card. Or if you do only use it for gas and pay it off every month. It is easy to get over your head and become trapped in high interest rates.

I hope these four tips helped you out on your road to becoming more financially fit. If you would like to learn more information about the Financial Four–check out this website! (http://www.financialfour.org/)

Or if you need an online budgeting tool check out LearnVest. They make it easy and fun to get your money in order. (Learnvest.com)

 
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