{"id":5356,"date":"2026-08-16T04:17:13","date_gmt":"2026-08-16T04:17:13","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=5356"},"modified":"2026-08-16T04:17:13","modified_gmt":"2026-08-16T04:17:13","slug":"seven-ways-college-students-can-manage-their-finances-because-money-decisions-impact-financial-security-when-starting-a-first-job-after-graduation","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=5356","title":{"rendered":"Seven ways college students can manage their finances \u2014 because money decisions impact financial security when starting a first job after graduation"},"content":{"rendered":"
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It\u2019s important for all students to build a solid foundation in managing their finances, said Sara Wilson, director of product innovation at Student Connections, an organization that helps students overcome financial barriers.<\/p>\n

Read more Harvard fund discloses $2.2 billion stake in Musk\u2019s SpaceX<\/a><\/p>\n

\u201cYou have to consider the financial decisions you make in college because they impact what your financial security is going to be once you enter your first job,\u201d Wilson said.<\/p>\n

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If you\u2019re starting college this fall or you\u2019re currently a student, here are some expert recommendations:<\/p>\n

1. Start building your credit<\/h4>\n

College is the perfect time to start building your credit score, said Courtney Alev, consumer financial advocate at Credit Karma. A\u00a0credit score\u00a0is a mathematical formula that helps lenders determine how likely you are to pay back a loan. Credit scores are based on your credit history and range from 300 to 850. A low credit score makes it more complicated or more expensive to obtain car loans, mortgages, credit cards, auto insurance, and other financial services.<\/p>\n

\u201cCollege is an ideal time to start building a credit report, because the earlier you start, the more time you have for that credit to build and then work in your favor when you eventually need it, whether it\u2019s for a loan or an apartment,\u201d Alev said.<\/p>\n

Alev recommends starting your credit card journey with secured credit cards. These credit cards are opened with a one-time deposit that serves as collateral. This first deposit is usually returned when the user closes the account with zero balance or when they move to an unsecured credit card with the same bank. Another starting option is student credit cards, which are easier to qualify for and tend to come with lower credit limits.<\/p>\n

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Regardless of the type of credit card you open, the No. 1 goal is to only spend what you can afford to pay off each month, Alev said.<\/p>\n

2. Budget as much as you can<\/h4>\n

During college, you might have multiple sources of income, whether from a part-time job, a financial aid stipend or family support. Having multiple or irregular streams of income might make it difficult to manage your finances, but\u00a0budgeting\u00a0is still a crucial step toward achieving financial stability.<\/p>\n

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You can budget by using an app, creating a spreadsheet or simply writing your expenses down on paper. No matter the format, it\u2019s important for your budget to include your earnings and spending each month. Having a\u00a0specific financial goal\u00a0in mind can help you stay motivated to budget.<\/p>\n

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\u201cBudgeting is simply creating a plan to get what you want with your money,\u201d Wilson said. \u201cFiguring out what you want, then the plan that you need to follow to get there.\u201d<\/p>\n

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To help juggle multiple sources of income, students should divide their monthly bills by four so they have a target for the amount they need to set aside each week, said Lindsay Bryan-Podvin, financial therapist and founder of Mind Money Balance, a financial wellness service.<\/p>\n

For example, if rent is due on the first of the month and it\u2019s $1,000, that means you need to save $250 each week. Dividing your bills can help you manage your money when your income is inconsistent throughout the semester.<\/p>\n

3. Start saving<\/h4>\n

While it might be difficult to earn extra income while you\u2019re in college, creating an\u00a0emergency fund\u00a0can save you a headache down the road. Many students can get excited about the idea of investing, but before diving fully into it, Alev recommends that you have a savings cushion.<\/p>\n

\u201cThe power of that compounding interest and the growth of the economy can really pay off over time, and it\u2019s so important, but an emergency fund is going to serve your immediate needs,\u201d Alev said. She suggests that you aim to have enough savings to cover rent and other essentials for a few months before starting to invest.<\/p>\n

Read more Anthropic revenue surges to over $11.5 billion in second quarter<\/a><\/p>\n

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4. Talk about money with your friends<\/h4>\n

One of the most exciting aspects of college is the new friends you meet. As you\u2019re building new friendships, Bryan-Podvin recommends that you practice open communication about your financial journey.<\/p>\n

\u201cIt can feel really hard to say \u2018I can\u2019t afford that or that\u2019s not a priority for me,\u2019\u201d Bryan-Podvin said.<\/p>\n

Being transparent about your finances can help you avoid feeling pressured to spend above your means.<\/p>\n

Bryan-Podvin recommends that you clarify your spending priorities to make it easier to avoid overspending. For example, if you pay for a gym membership because it makes you feel better, keep this expense in mind when you have to say no to ordering takeout with your roommates.<\/p>\n

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5. Have a plan for your student loans<\/h4>\n

While paying back student loans begins after graduation, it\u2019s crucial that you have a plan while you\u2019re still in college. Having a plan includes knowing how much you\u2019re borrowing each semester, what your expected total repayment amount is and how much your monthly payments will be once you graduate.<\/p>\n

\u201cAs long as you understand what you\u2019re getting into and you\u2019re making a plan for how to navigate and manage it, you\u2019re an informed consumer of that debt,\u201d Wilson said.<\/p>\n

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How much you borrow in student loans will affect your financial life after graduation, so it\u2019s crucial that you don\u2019t put off understanding the cost of the loans.<\/p>\n

6. Take advantage of the resources that your school provides<\/h4>\n

Universities typically have a number of resources, so it\u2019s best to take advantage of them while you\u2019re in school, said Phil Schuman, executive director at the Higher Education Financial Wellness Alliance.<\/p>\n

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\u201cThe nice thing about the system that you have on your campus is the people aren\u2019t going to judge you,\u201d Schuman said. \u201cTheir job is to help you figure out what the solution is to your question, and they\u2019re going to point you in the right direction.\u201d<\/p>\n

Whether your question is about financial aid or budgeting, making sure you\u2019re tapping into the free resources on campus can help smooth your financial journey. You can typically find resources at your school\u2019s library, student life office or recreation center.<\/p>\n

7. Don\u2019t panic if you make a mistake on your financial journey<\/h4>\n

Mistakes happen to everyone, not only students. But what is important is that you know how to cope when you make a mistake, Schuman said.<\/p>\n

Managing your finances is a learning process that will continue well beyond your college years. But starting your journey in college can help you kickstart that learning process.<\/p>\n

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\u201cMistakes will happen,\u201d Schuman said. \u201cGive yourself grace. Nobody is perfect when it comes to their finances, so don\u2019t feel like you have to be as well. Talk to somebody, acknowledge it, and then figure out what you can do moving forward to right the wrong next time.\u201d<\/p>\n

Read more Trump administration tells Supreme Court that ballroom construction must go on despite order to stop, citing recent missile threat on Air Force One<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

If you\u2019re starting college this fall or you\u2019re currently a student, here are some expert recommendations.<\/p>\n","protected":false},"author":1,"featured_media":5355,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[310],"tags":[],"class_list":["post-5356","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-colleges-and-universities"],"yoast_head":"\nSeven ways college students can manage their finances \u2014 because money decisions impact financial security when starting a first job after graduation - Cross Country Moving Team<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/crosscountrymovingteams.com\/?p=5356\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Seven ways college students can manage their finances \u2014 because money decisions impact financial security when starting a first job after graduation - 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