Education is crucial to long term career success. This can come in many forms, but the core tenets of a long and illustrious working life begin with fantastic learning opportunities that open up doors for future promotion, career changes, and a rewarding and enjoyable environment that will pay off over the many years to come.
While schooling is key to long term success, financial stability is perhaps the most important tool that can facilitate those experiences. Building strong financial acumen in your early years is crucial to making smart money decisions later in life, but it’s also essential for opening up new possibilities while you are still studying. With these five helpful tips, financial success can be turned into a breeze rather than a nightmare.
1. Make time for mental and physical health.
Average college students in the United States, Canada, and elsewhere often find it difficult to make time for themselves. Mental and physical health are crucial to high performance in the classroom and beyond, yet Canadian and American college students often learn this lesson too late to take advantage of the full benefits that great health and personal care can provide.
Time spent outdoors, for instance, can be a powerful mood enhancer. As you sail through your college years, make sure you are making regular visits to the doctor and spending time on the things you love. This dedication to self will stand by you over the long run. Furthermore, stability in the mental health department provides a greater balance that can help you maintain strong financial habits with ease.
2. Carefully track your outgoing expenses.
Many college students forget about the importance of their savings account. Saving for a rainy day is important for everyone, but in your earlier years, these funds can be leveraged in a variety of important ways that only make themselves known as the years continue to pass by.
With a Tangerine student credit card, college students are able to track purchases and compare spending categories across months and even years in order to make the most of their financial health. A credit card is a great responsibility, but it’s also crucial for building a phenomenal credit score that can be leveraged one day for a mortgage loan, car loan, or other increased borrowing needs.
Beginning early with great credit card habits is a surefire way to build long term financial success that will stand by you for many years to come. Tangerine cards are offered by the Tangerine Bank, which was formerly known as ING Bank, in Canada. A Tangerine card offers students a great deal on bundled financial products as well like savings accounts and a no-annual fee credit account that gives back great rewards.
3. Lock in discounts on your regular purchases.
In addition to a rock solid credit card spending plan, saving money on the things you buy regularly is a great habit to begin cultivating early in your adulthood. Prescription discounts are a particularly important tool for saving on regular expenses. With a pharmacy discount card you can lock in huge savings on the prescription drugs that you need for allergies, chronic illnesses, and seasonal bugs that can wreak havoc on a college schedule.
A discount card for the pharmacy is easy to sign up for and can immediately impact your daily financial outlook. With discounts up to 80% on thousands of prescription medications, the savings can really add up, even after you first visit to the pharmacy with your new discount card. Signing up takes just a few minutes and can supplement your current insurance coverage with additional or alternative discounts on the medication you buy monthly or yearly to manage your healthcare needs.
4. Move with a plan.
Another place in which the financial health of a student can easily be upended is in the yearly shuffle from one apartment to the next. Using a storage unit in your local area during moving periods can really ease the mental and financial stress of a move, and searching for “search self storage in Irving, TX” can help get you started when looking for a space for your belongings.
Self storage is a cheap and easy way to safeguard your belongings during a summer away from campus or for a short period of time as you finalize the move from one student accommodation to the next. Self storage is a great way to facilitate a smooth and painless move as you continue to learn and grow as a student.
5. Don’t forget to enjoy the ride.
Lastly, it’s important to remember why you are in school in the first place while still enjoying this transition time. It’s easy to get caught up in the big picture and look solemnly toward a future of nine-to-fives, mortgage payments, and tax filings. Take time to enjoy this period of pure learning. Remember, when it’s gone you can never get it back. No one looks back on their college years and thinks about the money they’ve saved up through this time, so kicking back and enjoying the time is crucial to your development.
Still, this also serves to provide a strong motivation for future financial strength. In order to continue enjoying a fulfilling lifestyle after the scholarship or student loan money dries up, a great working relationship with your job is a must. Take these lessons to the bank—literally!
Life moves quickly, and creating a financial and personal blueprint for success while in school also must include some time for fun and carefree enjoyment. College days are some of the most rewarding times in a student’s life. Make sure you’re enjoying the ride while preparing for a bright future.