From midterms to all-nighters, college is hard enough without having to stress out about money. Only half of the students entering college feel like they are prepared for life on their own, especially when it comes to being smart about their finances. However, this is an excellent trial opportunity for students to learn how to manage their money before they graduate and get a full-time job. From online banking to restaurant coupons, use the following guide to learn how to manage your money this school year.

3 Money-Managing Tips for College Students

1. Ask About Student Discounts

If you’re taking out loans to pay for your tuition, it might feel like the odds are stacked against you as a college student. However, many businesses and companies offer student discounts to make their products and services more accessible to a younger demographic. Some restaurants, concert venues, and stores might offer discounts they don’t advertise, so always ask before you swipe your debit card. You might be surprised how quickly those 10% and 20% rebates add up!

2. Use Online Banking

Today’s college students are no strangers to using apps and devices to complete daily tasks. So why not use these for online banking? Instead of writing down your spending in a notebook or a spreadsheet, bookmark your bank’s online portal and check-in at least once a day. You can even set up notifications to alert you to unusual expenses so that you can stay one step ahead of identity theft. You can also use online banking services to put money directly into your savings account from your checking, whether you’re saving up for a spring break vacation or a new car. 

3. Set Limits

Amid a hectic class schedule, piles of homework, and campus events, it’s easy to lose track of your spending. To prevent this, make financial limits for each aspect of your life at the beginning of each semester. Say you want to allow $100 a week for groceries and coffee runs and no more than $50 a week on nights out with friends. By staying within these limits, you can avoid having to use your credit cards and piling up more debt on top of your hefty student loans. If you have to go over this limit one week, adjust the next week’s budget to even things out.

If you’re excited to spend the next year on campus but stressed out about how to handle your finances, turn to The Missouri Bank in Wentzville, MO, for help. With their online banking services, keeping track of your spending and saving habits is easy. They also offer free online bill pay, so you can pay for your necessities without taking a significant amount of time out of your day. They can help you find the best balance between having a fun and exciting college experience and being a responsible financial citizen. To learn more about their services, visit the website, or call (636) 327-4900 to schedule an appointment with one of their bankers.