3 Ways to Save Money for College
December 19, 2017
As you plan for your future, it’s smart to start saving money for college as early as possible. But no matter how close your college start date is, you can still find many ways to save for college, ways both big and small. From your current job to pursuing additional work on the side, there also many ways of earning money for college for those able to put in the time. Below are few tips for both earning and saving money for college to get you started.
1. Always look for the best deals available.
One of the most straightforward ways to save for college is stop overspending. From small buys to big-budget items, get the most out of every dollar. For starters, review the recurring payments you make monthly—your phone bill, video streaming services, subscriptions, and more. On some payments, you may be able to negotiate for a lower price. After identifying places to cut back or opportunities to reduce these bills, find price comparison tools online to see where switching providers or packages could save you big. You can also use these and similar online services for comparing more everyday items before you make a purchase. Many apps and browser plugins also exist to help you take advantage of all available coupons and savings.
2. Start saving more of your paycheck.
What percent of your paycheck you can save varies per person, but you should have a goal to put at least part of your regular earnings into savings. You may even want to create a separate savings account with money just for college. To make this easier, many apps or banks allow you to schedule regular automatic transfers from your checking to your savings. Of course, to increase how much you save, you may need to first review your budget and spending habits and find areas where you can make some changes.
3. Be sure you’re earning what you should be.
If you’re saving money for college, maybe it’s time to start thinking about earning money for college too. If you’re already employed, many sites, including PayScale, Salary.com, and Glassdoor, can help you get a feel for what your salary should be. Do your research and if what you’re earning is below average, collect your information and approach your employer about the possibility of a raise. Even if you aren’t eligible for a raise, you may be able to take on more responsibility to increase your earnings. If you do any contracting or freelancing work on the side, you’ll also want to ensure that you’re charging enough to make the effort worth your time.
Financing Your Education at The Art Institute of Pittsburgh - Online Division
Want to discuss your plan for saving and paying for college? If you’re in interested in a creative arts education, The Art Institute of Pittsburgh - Online Division can provide with you a Student Finance Counselor who can help you build your personal plan.