(WTNH) – Time is ticking on summer vacation and college students will be heading back to campus soon. Before you go, we are Stretching Your Dollar with four money moves to make before you move back into the dorm room.
First, spend this time before you go looking for paid work. Those who can find work may not have to borrow as much on a day-to-day if they have some income that doesn’t interfere with their studies. You can also start making payments on your student loan interest to lessen the burden once you graduate.
Next, create a monthly budget. There are lots of free apps to help you get started. Track your income and expenses so you don’t get off on the wrong foot while living on your own.
Third, begin to build credit. You can ask to be an authorized user on a guardian’s credit card. Also make sure rent, utility bills, and even subscription services are reported to credit bureaus.
Also get ready to take advantage of perks offered to you. Meal plans may help you save and avoid overspending. Utilize the computer labs and fitness center to save. Also keep your student ID on you since many restaurants and businesses offer student discounts year round.