If you’re starting college this fall, you’re on your own for the first time. That’s exciting but it also brings responsibilities you may not have had before. Whether you’re living on checks from your parents, a student loan, financial aid, or a part-time job, there is a limit to how much you’ll have to spend. Oregon’s credit unions have some tips for you: * Set up a spending plan, and stick to it. This may sound basic but it’s really important. List your monthly income and the costs of your necessities such as food, transportation, and housing. Track your spending so you’ll know how much you may have left for entertainment. * Take advantage of your credit union’s mobile app. Not only will that help you to track your spending, but it will also alert you to the potential of fraud or suspicious activity with your account. * You’re going to get bombarded with credit card offers. Be careful! Know that as not-for-profit cooperatives, credit unions offer lower interest rates on their credit cards than you may be getting from other financial service providers. If you do have a credit card on campus, try to be disciplined and pay the balance off every month. * Leverage discounts for college students. Many computer manufacturers offer student discounts. Your campus may have a card entitling you to discounts at on campus stores and restaurants. Keep your eyes open for free on campus entertainment such as concerts or art shows. * Don’t be the life of the party! If you’re going out with friends, agree ahead of time that you’re each paying for your own food and drinks. * If you’re a credit union member, chances are you can avoid paying annoying ATM fees when you need to withdraw some of your money. Most credit unions network their AMTs so they’re surcharge-free.
