Tag Archives: summer

Savings Tips for Summer Utilities

30 May

With Memorial Day behind us, it’s finally summer (technically summer doesn’t actually begin until June 21st)! That means spending days on the water, grilling burgers, getting some sun and… higher utility bills.

You can’t do anything about the heat and humidity, and unless you want to be miserable for months you will need to turn on the A/C. Rather than saving money by sitting alone in the dark all of the time, use these tips to help keep your utility bill in check.

Unplug what you don’t use

If it’s plugged in to the wall and not a power strip, it’s going to be using power! Unplug those phone charges, lamps that are really just for decoration, and other appliances when you’re not actually using them.

Use ceiling fans (properly)

Useful for regulating temperature in both winter and summer, ceiling fans can give you a nice breeze if they are set the right direction. Remember that fans only cool you down if you can feel the breeze from it! If you can’t feel the wind coming off the fan, it is actually wasting electricity.

Shut unused vents

Have a room that you don’t use or that roommate moved out for the summer? Close the vents in that room. There’s no reason to pay to keep a room that’s always vacant at a comfortable temperature.

Master the thermostat

If you have a programmable thermostat, adjust it to make it cooler when you’re home. 5 minutes reading the manual can save you significantly! If you have one that can’t be programmed, make a habit of adjusting it if no one will be home.

Embrace the darkness

Make your parents proud by shutting the lights off behind you when leave the room! If you’re playing video games or watching Netflix, you can turn the lights off too and enjoy the screen in all its glory.

Friends have benefits

Have a friend whose utilities are included in their rent? As long as they are cool with it, they may now be living in the new go-to hang out spot.

Laundry savings

Wash your clothes exclusively in cold water and skip the dryer. Hang a clothes line and let your clothes air dry. If a clothes line isn’t an option, consider some sort of drying rack.

Avoid using the oven

Using the oven can heat up a kitchen real quick. If you have a toaster oven, it can be a great substitute that creates much less heat. However, don’t use this as an excuse to eat out! It only takes a couple meals out to blow through what you have saved from doing everything on this list.

Save Money & Time: Take 15 Credits!

28 Apr

Casey Doten, Financial Aid Administrator

One of the best things you can do for yourself in college is keeping yourself on track to graduate on time. Only 3 in 10 students in Indiana finishing their Bachelor’s degree within 4 years and that creates financial challenges for students who fall behind on graduation. Not averaging 15 credits per semester puts you off of a 4 year graduation plan which comes with a host of potential issues.

15 to finish Purdue.jpg

First and foremost is the cost of attending one extra year of college. An extra year at Purdue costs an extra $10,002 for in-state tuition ($28,804 for nonresident). Not to mention the costs of housing, food, books and other school supplies, and the cost of travelling home a few times per year. All in all, the estimated cost to be a Purdue student is $23,032 each year ($41,994 for nonresidents). That’s a lot of extra money to spend for the same degree that can be obtained in four years.

Remember: tuition at Purdue is at a flat rate for anyone taking 8 or more credits hours, so whether you’re attending part-time with 8 credits or are registered for 18 credits, the cost is the same!

If the extra tuition expenses isn’t enough of a downside for taking more than 4 years, the extra year lost also gives a couple other undesirable effects:

More time for student loan interest to accrue:
If you had borrowed all the $27,000 available to you in Federal Direct Loans for your first four years your balance on those loans would increase from $1,080 with an extra year of interest to accrue (assuming a 4% interest rate). This isn’t even considering any extra borrowing for the additional time or the interest that accrues during the repayment portion of the loan.

Lost wages and retirement: NerdWallet recently did a study into the impact of taking extra years to graduate. One extra year would result in approximately $46,355 in lost income and $82,074 in lost lifetime retirement savings!

Adding up the tuition paid, lost wages and retirement savings equals an incredible $138,431 for the extra year to get the degree ($157,233 for nonresident). Obviously this is not an ideal situation, so here are some tips to help keep you on track for graduating in four years!

So what can you do?

Take 15 credits every semester! Almost all degree require 120 credits which smoothly divides into eight semesters of 15 credits. While it might be tempting to take less credits your first semester or two, you’ll have to make those up another semester which you may regret when you’re taking those extra credits along with upper-level courses. Plus, students who start out at 15 credits per semester are more likely to graduate.

It may be obvious, but it’s important to pass your classes and earn grades that allow them to count for requirements. Many courses in your major or that you need for pre-reqs require you to earn Cs or higher to count. So contrary to what people may say, Ds do not really get degrees.

If you’ve fallen off the 15 credits per semester average, you can make either make it up during the summer or by taking extra credits in a fall/ spring semester. If the idea of taking 18 credits is a turn off, plan on taking summer courses! You can receive scholarships through both the financial aid office and the Think Summer office if you qualify.

Thinking Summer?

6 Apr

ThinkingSummer Blog.jpg
April is upon us and that means summer is closer than you think. Even with a bunch of projects and finals between now and then, it’s a perfect time to start preparing for the summer!

If your plans were to kick your feet back and finally get some time to relax, that’s great… Except you’re probably going to be incredibly bored after a week of nothing. So, here’s a handful of ideas on how to spend your summer:

Take Classes

Using your summer to take courses isn’t exactly the coolest sounding thing to do, but being able to graduate a semester or two earlier gets you that much closer to making real money. Worried about the bill for summer classes? You are able to use financial aid to cover it!

Be sure to fill out the Summer Aid Application on your myPurdue account. Without the summer aid application, the Financial Aid office won’t create an aid package for you even if you’re enrolled in classes. You can fill the application out whether you are taking classes on-campus, online, or for study abroad!THINKSUMMERLOGO

In addition to the Financial Aid office’s aid, if this will be your first time taking summer courses or you are a going to be able to graduate in August, you should check out the ThinkSummer website for the Summer Stay and Summer Finish scholarship applications.

Get a Job

Another classic summer option that might make your parents proud: get a job! Due to the large-scale migration out of West Lafayette in the summer there are plenty of job openings both on and around campus. Check out either the Financial Aid or Student Employment job boards to see what’s open and apply ahead of time.

The summer is prime time to find a job that can net you full days of hours which in turn can make a nice paycheck. If you spend the money you earn wisely, you can set yourself up with a nice savings safety net, reduce your student debt, or even have a little fun with a big purchase you haven’t had the funds for.

Get outdoors

Besides working and class, don’t forget to have some fun! Summer represents the prime months to enjoy the outdoors around West Lafayette. Whether you’re looking to get out and hike in the parks, visit the Wolf Park, or local Prophetstown State Park there’s plenty to do. So pause Netflix for an afternoon and do something you wish you could’ve been doing during the winter!

PSA: The State Street Project

Remember that State Street is going to be worked on continuously throughout the summer. As it’s the main route cutting through campus, you’re probably best off if you can find ways to avoid it entirely. If not, just check out http://statestreetwl.com/ to see what sections are currently open and what the current traffic conditions are.

 

Financial Aid February: Aid for the Summer

17 Feb

Taking summer courses is a great way to get ahead on credits and graduate earlier. Not to mention utilizing your rent to the fullest if you have a 12 month lease. However, summer aid is not automatically created for your account when you file the FAFSA. With a few extra steps you can get summer financial aid lined up and have you ready for summer!

How to Apply for Summer Aid for Summer 2017:

Complete the 2016-17 Free Application for Federal Student Aid (FAFSA) no later than June 30, 2017 and satisfy all additional financial aid requirements listed on your myPurdue account. Note: although you can file the FAFSA as late as June 30, you should file it much earlier in order to have your aid ready for the summer term.

Complete the 2017 Summer Aid Application under the Financial Tab of your myPurdue account. Once your application has been successfully submitted, it could take two to three weeks to receive a Financial Aid award. Please monitor myPurdue for updates. Initial summer financial aid notifications will begin approximately March 6th.Financial aid february think summer.jpg

Quick Info:

Eligibility for your Federal Loans is on an annual basis, with the summer term being part of the aid year for the semesters before it. If you used all of your federal loan eligibility up, you will need to utilize other sources of aid for your summer bill.

If you drop hours or do not initiate course participation at any time during the summer sessions, your aid may be adjusted and you may receive a bill.

If this will be your first time taking summer courses, check out the ThinkSummer scholarships!

You can also check out the Bursar’s Office site for current tuition and fee rates. Did you know that, in the summer, you pay the same amount for 6-9 credit hours?

Be sure to notify the Division of Financial Aid if you decide to cancel your summer aid application.

Choose the location you plan to attend for summer 2017 to obtain additional information about how to apply and aid eligibility.

Want more info about summer courses, internships, housing and more? Check out Think Summer.

The Great Debate: Living On-Campus or Off-Campus?

11 Jan

Where you live and who you live with can be one of the most important decisions you make each year. There are benefits and drawbacks of each option, but the best choice varies for each person. Taking stock of what you want in your housing, how you’re paying for it and the various perks it offers can help you find the right spot to call home for the next year.

While residence halls (dorms) are often the go-to for first-year students, they are not mandatory to live in. Apartments and houses are available for incoming students off-campus too, but often you’ll need roommates and finding them when you’ve only been to campus once for a tour can be difficult. But no matter how long you’ve been in school, it’s a decision you have to make every year and a little comparison can only help you make the best choice for you!

living on campus or off campus22.jpg

One of the main differences between living on-campus & off-campus is the distance from your classes and buildings you need to visit. Living on-campus puts you in the closest proximity for getting to your classes, going to the co-rec, or making it to meetings with your advisor. Depending on how far you live off-campus this may or may not be an issue. If you live across the street from campus this is basically on-campus. However, if you’re a ways away you’ll have to rely on the buses, biking in, driving (if you’re quite a distance away), or just hoofing it. Unfortunately all of these options become a lot less fun when the weather goes cold.

Comparing prices between on-campus and off-campus can be difficult since there’s a wide range for both choices and difference in how you have to pay for them. On-campus residence halls and apartments are generally going to cost you more than living off-campus. However, the big difference many people neglect is how you pay for them. Payment for your housing (and meal plan) is due at beginning of the semester along with your tuition if you live on-campus. If you live off-campus in a house or apartment you will be making a payment each month. These monthly payments are typically much easier to pay out of pocket rather than having to come up with a whole semester’s housing all at once.

If you’re living off-campus, you’ll also want to pay attention to your utility bills in addition to your rent – a problem that living on-campus doesn’t have as it’s a fixed rate. Paying for things like heat, electricity and internet can bust your budget if you had not factored them in. Additionally your laundry situation can involve many things including nothing in your place, having coin-operated machines, or even the mythical free-to-use machines in a place where you don’t have to pay utilities.

One cost that you’ll have to pay for whether you live on or off-campus is your food. There’s no difference in the rates for meal plans where you live, but if you don’t live close to campus your plans to eat every meal in a dining hall probably won’t end up happening. As previously mentioned, your cost for a meal plan is due up-front at the beginning of the semester. Even if you have a meal plan it definitely won’t be your source for 100% of your food as you’ll probably buy snacks, go out to eat at a restaurant or grab food to go from another source at some point.

Possibly the biggest make-or-break part of anywhere that you live is your roommate. Rooming with someone you never met, or even your best friend, can be extremely difficult. Whether it’s sleeping a few feet from them in a dorm room or just sharing a kitchen and living room in an apartment, roommate issues are a frequent source of contention. While you do have the option to have your own place, it comes at a considerable cost both on and off campus. The showering situation in the residence halls might get a bit of flack but sharing a shower with a few of your friends and not cleaning it properly or often enough can make its own frightful situation.

The last major consideration is whether you plan on being around during the summer for classes, internships/ jobs, or just because. Most off-campus contracts are year-round so if you’re splitting back to your family’s home once classes end you’ll still be paying for your place at school. However, living in a residence hall and having summer classes can put you in a spot in having to find a sublease too. While it’s not usually too hard to find options since so many students would rather have someone sublet from them than have to pay their rent during the summer it’s not always the easiest to find a perfect situation to slide into.

Remember, you can use your financial aid to pay for living both on and off-campus! If you live on-campus you’re billed for housing along with tuition and it is due when classes start. This makes it extremely important to have your aid lined up for the beginning of the semester. If your aid doesn’t cover everything that you owe, you’ll need to find a way to cover the difference or create a payment plan with the Bursar’s Office. Any extra aid above what you are billed (whether you live on or off-campus) will be refunded to you. If you’re living off-campus it’s usually a good plan to put this toward your rent. Paying ahead can be great for lifting any worries for a while, just be sure to get a receipt if you do!

Summer Is Here! … Now What !?!

11 Jun

Raysha Duncan, Financial Aid Administrator
www.purdue.edu/mymoney

Splash park

Summer is less than a week away and I am excited! Are you? I know I know it has felt like summer for some time but the first official day of summer isn’t until June 21st.  Are you looking to save money on activities, spend time outdoors, or find indoor activities when the weather isn’t stunning? The Greater Lafayette Area is brimming with outdoor activities during the summer from parks to trails to outdoor performances. You can visit the Lafayette-West Lafayette website here to get more information on all the outdoor activities this summer.  I’ve gone ahead and summarized some of the activities below.

Lafayette/West Lafayette/Tippecanoe County Parks

West Lafaeytte ParksLafayette alone boasts 17 parks. Some of these parks have trails, some parks have pools, most of them have picnic shelters, and some of them are just soccer fields with a concession stand. Not to mention there are 12 more parks just across the river in West Lafayette! There are 3 sizeable parks with hiking trails in West Lafayette (the Celery Bog Nature Area only is 195 acres!) for hikers and casual nature lovers to enjoy. But in my opinion, the most diverse parks lie outside of city limits in Tippecanoe County. The Tippecanoe Battlefield in Battle Ground, Indiana, features a lot of history, including a monument in honor of the Battle of Tippecanoe; it’s also the start of the Wabash Heritage Trail.

Wolf Park

Located in Battle Ground, this park is a sanctuary for, you guessed it, wolves. It’s also home to coyotes, foxes, and bison. They have limited Photographer taking pictures of a wolfhours (1PM – 5PM Tuesday through Sunday) but it only costs $8.00 for an adult, $6.00 for children 6-13, and free for children under 5 to get into the park. There’s a BUNCH of fascinating events happening over the summer also, including Howl Nights every Friday and Saturday where guests have the opportunity to see the wolves in the evening and hear them howl, something you can’t experience during normal business hours.

Outdoor Art Trail

If you’re into 3-D art, this is the walking tour for you. Scattered across both Lafayette and West Lafayette are dozens of outdoor art pieces that you can walk around and see. There’s even a handy online map for routing out your own personal trail for the day. More information on the art pieces (like Candy Change’s “Before I Die” murals here in West Lafayette) can be found online to give you some background on what you’re going to go see.

Prophetstown State Park

Not only is this one of Indiana’s newest state parks, it’s also full of fun activities to do this summer. You can hike, ride your bike down the bike trails, camp, or even swim for a small fee in the Family Aquatic Center. Also close nearby is the Farm at Prophetstown, where you can take a tour of a horse-powered farm and learn about agriculture.

…but what if it’s raining?

Raining on WindowThere’s still plenty to do around the Lafayette area indoors too!

-Visit some of the area’s art galleries or take an art class (glass working, anyone?)

-Check out the area’s nightlife. Whether you’re a pub or a coffeehouse kind of person there’s something for you. Most places offer live entertainment on Friday or Saturday nights too.

– Love all things vintage? Head to downtown Lafayette and check out all the antique stores on the “Antique Trail”. (Or pop over to the Tippecanoe Mall to completely avoid the rain and shop both vintage and major retailers – the vintage store Hot House Market!)

 

What are some of your favorite things to do in the Greater Lafayette Area during the summer? Let us know in the comments below!

Spending Summer $avings … the Right Way

1 Jun

Raysha Duncan, Financial Aid Administrator & Purdue Alumna
www.purdue.edu/mymoney

girl gazing at mountains

Summer vacation has just started for some, and for others we are a month or two into the season. By now you’ve probably been able to save up a bit of money from your summer job. And if you haven’t been saving, you’re realizing now is the time to start. It’s great to save money from your job over the summer, but what exactly do you do with all that money you’ve been saving up?

Tuition Money

This is the most obvious option. If you’re working over the summer to pay for your schooling, this is one major expense your savings should be going towards. Earning money over the summer and saving a lump sum of your earnings for your tuition can keep you from taking out loans. As a result, you graduate with less debt increasing your discretionary income (income after taxes and current bills have been paid). This will save you interest over time and allow you to fund other investments like a house, car, or your retirement.  The Project on Student Debt had the following to say: “Seven in 10 college seniors (71%) who graduated last year had student loan debt, with an average of $29,400 per borrower. From 2008 to 2012, debt at graduation (federal and private loans combined) increased an average of six percent each year.” Imagine being part of the 29% instead of the 71%….

Put it Towards a Big Purchase

If your computer broke down on you during the school year and it’s something that you really need (not just for Facebook or Netflix) this is a legitimate expense to spend your hard-earned cash on. Other big purchases like brand-name purses, designer shoes, cologne or designer sunglasses are not really a good use of an entire summer’s wages.

Another big purchase you could put it towards would be a study abroad trip for next summer or school year (and I’m sure a summer in Paris sounds really good right about now after working the cash register for 30 hours every week). Purdue has numerous study abroad options for students of varying interests and majors. It’s also highly recommended by students and faculty that any student who wants to goes on a study abroad; it’s an experience of a lifetime.

Have Your Own Safety Net

Adults are always talking about having a 3-month, 6-month, one-year safety net of funds in case something was to happen to them. This money is the minimum that they would need to get by for a set-period of time if they were to remain unemployed for a time period. This is something college students should have too! What if you end up having to take 18-credit hours and it’s a really strenuous course-load that causes you to leave your part-time job? What if your car breaks down part way through the semester? How will your rent, water bill, cell phone, etc. get paid? You’re a student first and foremost in college, and planning ahead and saving can help keep that priority in focus.

Invest It

One thing college students typically don’t think about is investing. Investing is something you do once you’ve graduated and are bringing in a steady paycheck. But, there’s no better time like the present to start investing! It’s important to do your research before you start. You may want to look into what options your own bank has for investments and compare them to other options like Roth IRAs or investing straight into the stock market. This is a good option especially if you have a large sum saved up, already have your tuition covered, and have a safety net established.

These are just a few of your options to help you get set up for the long-term versus just satisfying you in the short-term. It’s always good to plan ahead, and saving money is one tool at your disposal. Do any of you already have plans for what you’re using your summer savings for?  Share your summer plans below.

50 Free Activities You Can Do This Summer

28 May

Raysha Duncan, Financial Aid Administrator
www.purdue.edu/mymoney

two people hiking

Summer break is upon us! You have so much time! You can do so many things! You’re so excited! You’re so….bored.  You’ve got a looong summer ahead of you. We’ve gone ahead and compiled 50 things you can do for free when you’re looking for something to do this summer.

  • Go for a walk
  • Shoot some hoops
  • Visit a local park
  • Learn to do a cartwheel
  • Try to a handstand for a full minute (or longer!)
  • Clean out your freezer
  • Clean out your refrigerator
  • Clean out your pantry
  • Put together a donation bag for the food pantry
  • Volunteer at the food pantry
  • Bake some cookies
  • Take those cookies to your neighbor
  • Bake a cake
  • Learn how to ice a cake
  • Celebrate a celebrity’s birthday
  • Fill your ice trays!
  • Make lemonade
  • Go on a picnic
  • Use your apartment complex’s pool
  • Swim 20 laps
  • Finally learn (or re-learn) how to a flip in the pool
  • Scrub your bathtub
  • Clean the toilet (you know you need to)
  • Sweep the floors
  • Feng shui your bedroom
  • Fluff your pillows
  • Wash your sheets
  • Re-arrange your furniture
  • Clean out your closet
  • Throw away all your almost empty toiletries
  • Take your dog for a walk
  • Volunteer at the animal shelter
  • Invite friends over to play board games
  • Learn how to play a new card game
  • Build a huge domino chain
  • Try not to knock it down
  • Give in and knock it down
  • Read a book
  • Visit your library
  • Read the magazines at your library
  • Take a walk downtown
  • Window shop
  • Go to a grocery store just for the free samples
  • Read The Exponent
  • Read a new blog
  • Listen to a podcast
  • Read the news
  • Watch your favorite childhood movies
  • Compete with yourself to see how long you can leave your air conditioner off for the summer
  • Sit outside and enjoy the summer sunshine

Summer Is Here! … Now What !?!

16 Jun

Raysha Duncan, Purdue Alumni
www.purdue.edu/mymoney

Splash park

Summer is less than a week away and I am excited! Are you? I know I know it has felt like summer for some time but the first official day of summer isn’t until June 21st.  Are you looking to save money on activities, spend time outdoors, or find indoor activities when the weather isn’t stunning? The Greater Lafayette Area is brimming with outdoor activities during the summer from parks to trails to outdoor performances. You can visit the Lafayette-West Lafayette website here to get more information on all the outdoor activities this summer.  I’ve gone ahead and summarized some of the activities below.

Lafayette/West Lafayette/Tippecanoe County Parks

West Lafaeytte ParksLafayette alone boasts 17 parks. Some of these parks have trails, some parks have pools, most of them have picnic shelters, and some of them are just soccer fields with a concession stand. Not to mention there are 12 more parks just across the river in West Lafayette! There are 3 sizeable parks with hiking trails in West Lafayette (the Celery Bog Nature Area only is 195 acres!) for hikers and casual nature lovers to enjoy. But in my opinion, the most diverse parks lie outside of city limits in Tippecanoe County. The Tippecanoe Battlefield in Battle Ground, Indiana, features a lot of history, including a monument in honor of the Battle of Tippecanoe; it’s also the start of the Wabash Heritage Trail.

Wolf Park

Located in Battle Ground, this park is a sanctuary for, you guessed it, wolves. It’s also home to coyotes, foxes, and bison. They have limited Photographer taking pictures of a wolfhours (1PM – 5PM Tuesday through Sunday) but it only costs $8.00 for an adult, $6.00 for children 6-13, and free for children under 5 to get into the park. There’s a BUNCH of fascinating events happening over the summer also, including Howl Nights every Friday and Saturday where guests have the opportunity to see the wolves in the evening and hear them howl, something you can’t experience during normal business hours.

Outdoor Art Trail

If you’re into 3-D art, this is the walking tour for you. Scattered across both Lafayette and West Lafayette are dozens of outdoor art pieces that you can walk around and see. There’s even a handy online map for routing out your own personal trail for the day. More information on the art pieces (like Candy Change’s “Before I Die” murals here in West Lafayette) can be found online to give you some background on what you’re going to go see.

Prophetstown State Park

Not only is this one of Indiana’s newest state parks, it’s also full of fun activities to do this summer. You can hike, ride your bike down the bike trails, camp, or even swim for a small fee in the Family Aquatic Center. Also close nearby is the Farm at Prophetstown, where you can take a tour of a horse-powered farm and learn about agriculture.

…but what if it’s raining?

Raining on WindowThere’s still plenty to do around the Lafayette area indoors too!

-Visit some of the area’s art galleries or take an art class (glass working, anyone?)

-Check out the area’s nightlife. Whether you’re a pub or a coffeehouse kind of person there’s something for you. Most places offer live entertainment on Friday or Saturday nights too.- Love all things vintage? Head to downtown Lafayette and check out all the antique stores on the “Antique Trail”. (Or pop over to the Tippecanoe Mall to completely avoid the rain and shop both vintage and major retailers – the vintage store Hot House Market just moved in in May!)

Spending Summer $avings … the Right Way

9 Jun

Raysha Duncan, Purdue Alum
www.purdue.edu/mymoney

tree made of money

Summer vacation has just started for some, and for others we are a month or two into the season. By now you’ve probably been able to save up a bit of money from your summer job. And if you haven’t been saving, you’re realizing now is the time to start. It’s great to save money from your job over the summer, but what exactly do you do with all that money you’ve been saving up?

Tuition Money

This is the most obvious option. If you’re working over the summer to pay for your schooling, this is one major expense your savings should be going towards. Earning money over the summer and saving a lump sum of your earnings for your tuition can keep you from taking out loans. As a result, you graduate with less debt increasing your discretionary income (income after taxes and current bills have been paid). This will save you interest over time and allow you to fund other investments like a house, car, or your retirement.  The Project on Student Debt had the following to say: “Seven in 10 college seniors (71%) who graduated last year had student loan debt, with an average of $29,400 per borrower. From 2008 to 2012, debt at graduation (federal and private loans combined) increased an average of six percent each year.” Imagine being part of the 29% instead of the 71%….

cartoon man with briefcase overflowing with moneyPut it Towards a Big Purchase

If your computer broke down on you during the school year and it’s something that you really need (not just for Facebook or Netflix) this is a legitimate expense to spend your hard-earned cash on. Other big purchases like brand-name purses, designer shoes, cologne or designer sunglasses are not really a good use of an entire summer’s wages.

Another big purchase you could put it towards would be a study abroad trip for next summer or school year (and I’m sure a summer in Paris sounds really good right about now after working the cash register for 30 hours every week). Purdue has numerous study abroad options for students of varying interests and majors. It’s also highly recommended by students and faculty that any student who wants to goes on a study abroad; it’s an experience of a lifetime.

Have Your Own Safety Net

Adults are always talking about having a 3-month, 6-month, one-year safety net of funds in case something was to happen to them. This money is the minimum that they would need to get by for a set-period of time if they were to remain unemployed for a time period. This is something college students should have too! What if you end up having to take 18-credit hours and it’s a really strenuous course-load that causes you to leave your part-time job? What if your car breaks down part way through the semester? How will your rent, water bill, cell phone, etc. get paid? You’re a student first and foremost in college, and planning ahead and saving can help keep that priority in focus.cartoon roadmap

Invest It

One thing college students typically don’t think about is investing. Investing is something you do once you’ve graduated and are bringing in a steady paycheck. But, there’s no better time like the present to start investing! It’s important to do your research before you start. You may want to look into what options your own bank has for investments and compare them to other options like Roth IRAs or investing straight into the stock market. This is a good option especially if you have a large sum saved up, already have your tuition covered, and have a safety net established.

These are just a few of your options to help you get set up for the long-term versus just satisfying you in the short-term. It’s always good to plan ahead, and saving money is one tool at your disposal. Do any of you already have plans for what you’re using your summer savings for?  Share your summer plans below.

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