http://www.thesunsfinancialdiary.com/personal-finance/financial-tips-for-college-students/ Sat, 21 Nov 2009 20:14:32 -0800 http://wordpress.org/?v=2.8.6 hourly 1 http://www.thesunsfinancialdiary.com/personal-finance/financial-tips-for-college-students/comment-page-1/#comment-44916 Hot Link » Blog Archive » Labour Day Weekend Roundup - Aug 31, 2008 Sun, 05 Oct 2008 09:59:56 +0000 http://www.thesunsfinancialdiary.com/?p=2233#comment-44916 [...] The Sun’s Financial Diary writes about Financial Tips for College Students. [...] [...] The Sun’s Financial Diary writes about Financial Tips for College Students. [...]

]]> http://www.thesunsfinancialdiary.com/personal-finance/financial-tips-for-college-students/comment-page-1/#comment-44036 143rd Festival of Frugality: Celebrity Edition | LivingAlmostLarge Tue, 16 Sep 2008 14:39:59 +0000 http://www.thesunsfinancialdiary.com/?p=2233#comment-44036 [...] tells us tips he would any college student in Financial Tips for College Students posted at The Sun’s Financial Diary. I like his advice on saving in an IRA, but personally I [...] [...] tells us tips he would any college student in Financial Tips for College Students posted at The Sun’s Financial Diary. I like his advice on saving in an IRA, but personally I [...]

]]> http://www.thesunsfinancialdiary.com/personal-finance/financial-tips-for-college-students/comment-page-1/#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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