http://www.thesunsfinancialdiary.com/personal-finance/financial-tips-for-college-students/ Fri, 03 Feb 2012 17:42:24 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://www.thesunsfinancialdiary.com/personal-finance/financial-tips-for-college-students/#comment-62616 Hank Fri, 14 May 2010 19:02:45 +0000 http://www.thesunsfinancialdiary.com/?p=2233#comment-62616 Finding the time to really stay on top of your finances and tracking your spending can go a long way towards not being broke each month. Nice article. Thanks. Finding the time to really stay on top of your finances and tracking your spending can go a long way towards not being broke each month. Nice article. Thanks.

]]> http://www.thesunsfinancialdiary.com/personal-finance/financial-tips-for-college-students/#comment-43736 AndyS Wed, 27 Aug 2008 22:37:06 +0000 http://www.thesunsfinancialdiary.com/?p=2233#comment-43736 Some very valid points here. I did a recent post on this topic as well and I would say you need to be cautious with part time work. Extra money is great while at college, and necessary in some cases, but don't forget why you are here - to learn! When I was in college (or university as I called it) I knew a class mate who had 3 part time jobs (2 night jobs and one daytime retail role). This was great for his cash flow and he was always the biggest spender of the group. It also made him popular with others who would count on him for a round of drinks whenever he was at the bar. However, he sacrificed valuable study time for working (and maintaining an active social life) which meant he fell behind in his studies, including missed classes. He finally got back on track when he had to repeat and pay again for the entire semester, but still graduated a year after the rest of us. In financial terms, the opportunity cost of graduating a year later is equivalent to one year of salary from a full time job and the additional tuition costs - far more than most part time jobs are worth. Also you will be one year behind your peers in experience and top employers prefer not to hire students with poor grades. Money from part time work is great in the short term, but don't over do working while at college because you could be sacrificing much more in the bigger scheme of things. Some very valid points here. I did a recent post on this topic as well and I would say you need to be cautious with part time work. Extra money is great while at college, and necessary in some cases, but don’t forget why you are here – to learn! When I was in college (or university as I called it) I knew a class mate who had 3 part time jobs (2 night jobs and one daytime retail role). This was great for his cash flow and he was always the biggest spender of the group. It also made him popular with others who would count on him for a round of drinks whenever he was at the bar. However, he sacrificed valuable study time for working (and maintaining an active social life) which meant he fell behind in his studies, including missed classes. He finally got back on track when he had to repeat and pay again for the entire semester, but still graduated a year after the rest of us. In financial terms, the opportunity cost of graduating a year later is equivalent to one year of salary from a full time job and the additional tuition costs – far more than most part time jobs are worth. Also you will be one year behind your peers in experience and top employers prefer not to hire students with poor grades. Money from part time work is great in the short term, but don’t over do working while at college because you could be sacrificing much more in the bigger scheme of things.

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