Bryan’s tips for living young and free in college

Manage Your Money!

Have a savings account so you can save, then splurge. If you must have a slim PS3, save up for it and pay with cash. If you still want it after you’ve saved the money and can afford it, go ahead! Avoid buying something on impulse.

Pay your bills as soon as you get them in! DUH!! Right? Well, its easy to set bills aside and miss due dates, if you mail them or pay online as soon as you get them in, you won’t forget!

Have only ONE credit card and make sure you can pay the balance each month! Otherwise you’ll get eaten alive by interest, and end up paying 300 bucks for an original charge of 100.

With today’s technology of online banking and debit cards, most people don’t keep checking account registers like they did in the past. A great way to keep track of your finances is to integrate your online account with money management programs such as “Quicken.”

Make a budget and FOLLOW IT! All your budget should be is how much money you bring in each month, and how much it will take for you to survive that month. Anything over that, should be saved.

Making More Money!

Be a GREAT employee! Good work ethics will do more for you than you may realize, like job promotions, social networking and references that can help you in the future. Hard work WILL pay off!

Start your own business!

Three years ago, after learning how to produce video and websites, I printed some flyers and hit the streets! Today I’m still ‘in business’ doing all types of productions, and I would have starved for a little while, had it not been for my initiative to make money. Can you upgrade/repair a computer? Mow Lawns? Fix Cars? Use your pickup truck to haul things? Check the classified section for help wanted ads, Figure out what you can offer people and try it!

SAVE!

As much as you possibly can. A good rule of thumb is to always save 10% of you income for long-term savings that you never touch unless it’s an emergency! You should always have a “cushion” of money incase of job loss, car trouble or unexpected health problems. Most credit unions offer share savings and checking accounts that you can manage online. This is a great way to see you funds and move money from checking to savings and vice versa.

Until next time, keep living young and free Alabama!

Bryan