Money Tips for College Students
What do homes, education, and retirement all have in common? They are major life milestones that require advanced planning and saving large amounts of money. The amount of advanced planning and money saved that is needed may make you doubt your ability to reach these goals. Even if you don’t feel that way today, you may have in the past, or may in the future.
The good news is, there are ways to plan and save for these major milestones in a way that aligns with your values and current life situation that still sets you up for success. Keep in mind:
With all these goals, while the sooner you can start saving for them the less you will have to save each month, recognize that your situation will determine when you are able to start saving. Delaying when saving for education may mean you need to take out more in loans. Delaying saving for home ownership or retirement may mean you have to wait longer to buy a house or work longer before you retire. These are your choices to make.
Confidence comes with knowing you have done your research, consulted with professionals, examined your current situation, made some predictions for future saving opportunities, and recognized that as life unfolds you can adjust your plans.
Article brought to you by America Saves. Learn more at americasaves.org.
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