One of the best investments that one can make, depending on who you ask, is education. For this reason, it makes sense to save money for college so that you can ultimately receive a degree. Robert Jain, as well as other authorities on finance, can tell you that there are right and wrong ways to save money. For those that would like to learn more, here are a few do's and don'ts that will help you get started.
DO save money as soon as you can. If your goal is to build an account for your education, understand that it's never too early to start. You can do this by applying for part-time work once you're eligible. If you have numerous odd jobs that you perform, it would be in your best interest to put a certain amount of your earnings by the wayside. By taking steps like this - and names such as Bob Jain will agree - you'll be able to build said account quicker.
DON'T let savings bonds go unrecognized. For those that don't know, a savings bond is a type of investment that offers fixed interest from year to year. What this means is that once it's time to pay out, the bond in question will provide a significantly higher value than when it was established. This is a common gift given by grandparents, which makes sense given their value. They are often used to pay for school, which is why it's worth recognizing them.
DO know your eligibility for financial aid. Another way to save money for college is by understanding financial aid. This is obtained by many students because it allows them to cover preliminary costs. Of course, your eligibility for this benefit will be determined by numerous factors, including your year in school and citizenship. It's in your best interest to get in contact with the campus to learn more.
DON'T be shy about asking for help. One of the ways that you can do this is by asking your parents for a loan. You can do this if you find that you're short on funds. It's also worth noting the possibility of asking your family for guidance. Chances are, they know more about finance than you, which means that you can use their advice to save even more money. The sooner that you ask for help, the more money you stand the chance of saving.
DO save money as soon as you can. If your goal is to build an account for your education, understand that it's never too early to start. You can do this by applying for part-time work once you're eligible. If you have numerous odd jobs that you perform, it would be in your best interest to put a certain amount of your earnings by the wayside. By taking steps like this - and names such as Bob Jain will agree - you'll be able to build said account quicker.
DON'T let savings bonds go unrecognized. For those that don't know, a savings bond is a type of investment that offers fixed interest from year to year. What this means is that once it's time to pay out, the bond in question will provide a significantly higher value than when it was established. This is a common gift given by grandparents, which makes sense given their value. They are often used to pay for school, which is why it's worth recognizing them.
DO know your eligibility for financial aid. Another way to save money for college is by understanding financial aid. This is obtained by many students because it allows them to cover preliminary costs. Of course, your eligibility for this benefit will be determined by numerous factors, including your year in school and citizenship. It's in your best interest to get in contact with the campus to learn more.
DON'T be shy about asking for help. One of the ways that you can do this is by asking your parents for a loan. You can do this if you find that you're short on funds. It's also worth noting the possibility of asking your family for guidance. Chances are, they know more about finance than you, which means that you can use their advice to save even more money. The sooner that you ask for help, the more money you stand the chance of saving.
About the Author:
Please contact Bobby Jain for more information about what you've just read.. Unique version for reprint here: The Financial Do's And Don'ts Of College, By Robert Jain.
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