Saving Money in College

It’s not just for rainy days. Save early and often.

The key to financial success is really pretty simple – spend less, make more, and save for the future. If you’re a student who thinks you’re too young to save, think again. The sooner you start saving – and investing your savings – the more interest or earnings you could potentially make. Here are a few tips to make the most of your money:

Comience con los costos altos: matrícula, habitación y alojamiento.

  • Be sure you have searched every possible source for scholarships and grants. 
  • Make the most of the tuition you're paying. Are you taking a full load? Challenging classes that will pay off in the future? Learn all you can - don't take the easy route. 
  •  If you have a meal plan, use it! You're paying a lot of money for that privilege. And if you're not using it, see if you can reduce your plan or cancel it. 

Los gastos diarios no deben ser muy altos.

  • Consulte cuánto le cobra su banco. Como estudiante, puede calificar para opciones como cuenta corriente gratuita y Operaciones bancarias en línea.
  • Use los cajeros automáticos que no cobran cargos. Caminar una o dos cuadras más puede ayudarle a ahorrar mucho dinero.
  • Cut take-out in half by splitting a meal - and the costs - with a friend. 
  • ¡Corte los cupones! Y busque tiendas que ofrezcan el doble o el triple de cupones.
  • Busque ofertas de teléfonos celulares. Podría ahorrar cientos de dólares a lo largo de sus años en la universidad.
  • If you frequently go out to entertainment spots, consider inviting your friends over for a “movie night” at home instead. 
  • Walk or bike instead of drive. Gas is expensive, and so is the wear and tear on your car. The exercise will do you good.
  •  If you're tired of your clothes, consider clothes-swapping. You probably have a friend who's tired of his or her wardrobe, too.

¡Haga algo gratis!

  • Go to the library instead of the bookstore. The books are free, and you won't be tempted to buy a latte, either.
  • Busque eventos gratuitos. Mire en el periódico local, en las sedes de entretenimiento o en las carteleras informativas en busca de las últimas noticias.

Use el sentido común para sus finanzas.

  • Watch for sales. But don't buy something you don't need, just because it's on sale. 
  • No compre por diversión. Compre con una lista de artículos necesarios y no se desvíe de ella.
  • Registre todos sus gastos en una lista. Revísela después de una semana y controle los destinos de su dinero.
  • Don't use a credit card when you could use cash. And never lend your card to a friend. 
  • WORK! You should not jeopardize your grades by devoting too much time to a job, but holidays, breaks, weekends, and evenings are a great time to earn money. Some places have benefits like employee discounts and even tuition support. 

Make your savings work for you.

  • Put your savings into an interest-bearing savings account, a money market account or a CD. You could also invest it in a mutual fund, a stock, a bond, you name it. Talk to a financial advisor or banker about some of your options. Even putting away $1 a day can add up.
  •  If you're in your 20s, now's the time to start saving for retirement. Because the more you put away now, the harder your money can work for you by earning interest. It can be tough finding the money to save, but take a look at what a little bit every day can add up to over the years.

Este contenido no constituye un asesoramiento legal, impositivo, contable, financiero o de inversión. Le sugerimos que consulte con profesionales legales, fiscales, contables, financieros o de inversión competentes según sus circunstancias específicas. No brindamos garantías sobre la precisión o la integridad de esta información, ni respaldamos compañías, productos o servicios de terceros aquí descriptos y no nos hacemos responsables por el uso que usted le da a esta información.

Información importante

Before applying for a private student loan, SunTrust recommends comparing all financial aid alternatives including grants, scholarships, and both federal and private student loans. View and compare the available features of SunTrust private student loans.

Union Federal is a federally registered trademark of Cognition Financial Corporation used by SunTrust Bank under license. The Union Federal Private Student Loan is funded by SunTrust Bank and is not offered in connection with any other lender or the federal government. Cognition Financial Corporation is not an affiliate of SunTrust Bank.

Es posible que se apliquen ciertas restricciones y limitaciones. SunTrust Bank se reserva el derecho a cambiar o interrumpir estos programas sin previo aviso. These loan programs are subject to approval under the SunTrust credit policy and other criteria and may not be available in certain jurisdictions.

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