The start of a new year brings about new beginnings, new hopes and dreams and, of course, new resolutions.
If there’s one important lesson we learned from 2012, it’s that knowing how to manage money is important. Creating a budget is fairly simple, but sticking to it is a whole different story!
Here are 5 tips to help you keep your resolution, and your wallet, in great shape.
Avoid over-spending
You created a budget — now stick to it. If you’re unsuccessful at doing this alone, seek out help. Partner with a friend who will keep you accountable or utilize an online resource (like Mint) to stay on track.
Use your bank’s resources
Many banks have resources available — you just have to know where to find them.
Bank of America offers student accounts with eBanking to help you manage your money. Additionally, its Keep the Change program will help you save without really trying.
Wells Fargo offers similar online banking services and you can build your savings account with its Save As You Go program. It also offers a Way2Save program, which can be linked to your Wells Fargo College Checking account, and serves as a college ID, Visa credit card and ATM card.
Take advantage of student discounts
Most companies will give you a discount (sometimes as much as 20%) just for being a college student. Even if the discount isn’t posted clearly in the store or online, be sure to ask for it. Check out this list of discounts on everything from apparel to transportation.
Donate your time instead of your money
Your time can be just as valuable to a non-profit or volunteer organization as your money. Take an afternoon to volunteer at the Red Cross or local children’s hospital — not only will you feel good about yourself, but you’ll feel good about your bank account, too.
Set goals and reward yourself
Are you saving up to pay off your credit card or to invest in your student loans? Whatever your reason to save, be sure to have a goal that you can work toward.
It might seem counterintuitive to reward yourself for saving, but it can be a great incentive to achieve your goals. Reward yourself (without going overboard, of course) and then set a new goal.
Do you have more tips on keeping and sticking to a budget? Be sure to comment below!
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