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The internet is a treasure trove of information for saving and earning money in college. While this information is helpful, it’s also beneficial to understand why saving money in college or any post-secondary education is so crucial in the first place. The more value you see in saving money, the easier it might be to do.
Freedom to Find a Job You Love
After working hard to get a degree at some of the best value schools in the country, your ultimate goal is to find a job you love in your chosen field. That job may not present itself right away, which means you may be tempted to apply for jobs you know you will dislike just to make sure you can pay your bills.
Saving money in college can mean you don’t need to rush into the working world right away. With enough money put away to cover your bills, you may have more time to look at potential dream jobs rather than settling for something that doesn’t make you happy.
Having a Plan for Emergencies
Having a savings account that you regularly contribute to may put you in a desirable position if an unexpected bill arises. Rather than worrying about how you will pay for car repairs, a medical bill, or something else, you have peace of mind knowing the money you saved will likely cover it.
Security
No one knows what the future holds, and that can be a terrifying thought. Even if you find your dream job and begin earning right out of college, any number of curveballs can be thrown your way, like redundancy or illness. While there are plenty of easy ways to make money quickly, you can be less stressed by the idea of lost income if you have a nest egg to fall back on.
Life Enjoyment
No matter which college you attend, your goal may be to study hard, work hard, and eventually land your dream job. These few years can be stressful, but focusing on saving money can mean that you’ve got far more freedom to enjoy life once your college years are behind you. Instead of spending your weekends at home because you’re trying to catch up on bills, you can be focusing on your hobbies and spending money on fun things that promote a healthy work-life balance.
A Bigger Goal
In your final years of high school, your big goal might be to move onto post-secondary education and get a degree that sets you up for life. Once you achieve that goal, you can set larger ones. Sometimes, those larger goals have even larger price tags – like home ownership. Saving money as early as possible may put you in a desirable position to achieve those larger goals like big-ticket purchases and homeownership. Fortunately, there can be plenty of motivators for such plans, like wanting to avoid housemates with annoying habits.
While there are plenty of helpful resources out there to assist you on your money-saving journey, there’s one thing that’s missing: the reason for doing it. Consider any of these points above, and you may find the motivator you need to kick your money-saving habits into overdrive.
Save the Student
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