All Students Need a Savings Account

saving-moneyYay! It’s pay day! You’ve been working all week for this paycheck, and now it’s time to go live it up (a.k.a. spend every penny you’ve earned). Or, instead of blowing your check in one weekend, you could save some of it for a rainy day.

Wait, what? Why would you want to save any of your hard earned money? You’ve worked hard and deserve to go out and have fun on a Friday night, but part of being a responsible, working adult is having an emergency savings fund tucked away. Here are some reasons why it’s crucial to have an emergency fund:

You might need extra cash. There’s no telling what curve balls life will throw at you. It could be something unexpected, like needing to buy new tires for your car, or it might be something cool, like getting the opportunity to take a mini-vacation with your friends one weekend. Either way, it’d be nice if you had some funds stashed away to cover the expense.

You earn money from it. Most savings accounts earn a small amount of interest. However, no matter how little interest your savings account is earning, it’s still more money that you had before. When you have a savings account, the bank literally pays you. Why would you pass up free money?

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How To Graduate Without Debt

MoneyIt is no secret that college is normally synonymous with debt but here are simple tips on how to graduate without destroying your credit score:

  • 1. Create a spending plan: Habits are hard to break, so even if your cash intake is minimal now, it’s important to figure out how you’re currently going to dispense it so you get into the habit of staying on course with a plan.

2.   Save something: Even if it is only 50 cents to a dollar a day, change can add up. Set aside an amount daily that you can commit to so that you become accustomed to delegating a portion of your income to a savings account.

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