Right about now you’re probably counting the days until classes are over, your papers are turned in, and those final exams are history.
Are your summer plans set?
If you need to make and save money for next fall, priority one is finding a summer job. By April, many students have one lined up. If you haven’t, look at our summer job hunt suggestions below.
But first, keep in mind that by not spending all your summer earnings, you can accumulate a nice stash to cushion your back-to-school landing!
Make a plan to save
- Review your finances. Determine how much money you need to earn this summer based on your situation. Are you looking for just enough to support you during the summer, pay down existing bills, earn spending money for fall, defray upcoming tuition or college expenses, etc.?
- Set a savings goal. Once you know what your summer wages will be and what you want to accomplish, set a savings goal and stick to it. Make your goal specific and achievable (for example, put away $50 or $75 or $100 a week for 10 weeks). Your stash of cash can help pay down your credit cards—or purchase on-campus items like a parking permit, lab fees, books, supplies, or a refrigerator full of your favorite foods!
- Develop a summer budget. To help reinforce your savings goal and keep your spending in line, create and follow a summer budget. It also makes sense to think before you spend, compare prices when you shop, and check newspapers and the web for coupons (there are countless websites with printable coupons).
- Choose direct deposit if your employer offers it, and have your paycheck deposited into your savings account. The less opportunity there is to handle your money, the easier it is to save. Also, withdraw cash from your ATM just once a week.
- Find an affordable place to live. The cost of housing can make or break your summer savings. Consider the summer sublet market in some suddenly-quiet college town versus an expensive resort area like Nantucket or Hilton Head—particularly if you’ll be waiting tables. Look around and find the best deals. Signing a seasonal lease with a bunch of students can run the gamut from fabulous to tolerable to a total mayhem—and not in a good way. Work out house rules (including money matters) in advance.
- Live below your means. It’s easy to kick up your spending over the summer, especially if you’re making good money. What spending can you trim? Pack a lunch. Fast food lunches can easily run $25 or more a week. That modest $2.75 morning coffee ($13.25/week) and the $1.25 soda each afternoon will set you back $200 over 10 weeks. Drink coffee from home or soda bought by the case. Shop with a list and coupons. Bypass costly convenience stores for lower-priced grocery stores. Pick a modest splurge or two, but save for it first. Find fun or entertainment that doesn’t cost much. The more you can stop your earnings from dribbling away, the better off you’ll be in the fall.
- Lock up your credit cards. Many college students get caught in credit card debt. Resist making casual charges this summer. Got balances? Pay them off or aggressively whittle them down. This summer, stick with cash, check, or a debit card.
Tip: Why not budget a little time this summer for a scholarship hunt? It takes detective work, writing, and a stamp, but isn't free money for school worth it? Use free search websites like www.collegeanswer.com.
Start your summer job search ASAP
Just starting your summer job search? You still have a good shot at lining up what you’re looking for—but get moving. The economy is going through tough times. Hiring is down, but there are summer jobs out there.
Many students use spring break to summer job hunt. With a bit of planning, you can put together a summer that meets a single goal or multiple goals—including earning money in a job or gaining experience in an internship. Here are a few ideas to get you started:
Define your priorities.
- Are you looking for cash, a resume builder, or a summer learning experience?
- What type of organization or work environment interests you?
- Will you consider both paid and non-paid opportunities?
- Have you targeted a geographic area for your job hunt? Is it someplace where you have friends or family to help with housing or a new place where you’ll need to find it?
- Do you want college credit for the experience? Check with your school to see how to arrange it, along with the standards and requirements.
Tip: Clean up your Facebook profile, content on similar sites, and personal blogs. Google yourself. Employers do this and may base hiring decisions on what they see.
Get organized.
- Have you touched base with your college career center? Whether your school's career center is adequate or outstanding, get to know these folks. This service is part of your tuition and fees. Set up an appointment and learn what they have to offer. Many college career offices have long-established relationships with local or regional employers or resorts seeking reliable summer staffing.
- Write a resume and cover letter that markets your skills and interests. Bring your drafts to a career center counselor to help you assess what you offer potential employers. Coursework, extracurricular activities, and other positions you've held may add up to skills that interest employers.
- Network. Talk to people you know about your job search, what you want to do and where. Who do they know? Get ideas from family, friends, classmates, professors, hometown contacts, former supervisors, and other professionals. Describe what you’re seeking and where. Get their ideas, contacts, and referrals.
Timesaver: Consider printing networking cards (a.k.a. business cards) with your name and contact information. Get a professional-sounding email account if you don't have one already. Ask for other people's cards or contact information as well.
- Practice a 30–45 second summary of your skills and interests (often called an “elevator speech”). Always have your personal introduction ready to go, wherever you go. A summer job lead may result.
- Check with your academic department, read the online classified sections of newspapers in your target area, and use job search websites.
- Apply for several positions, not just one or two. Use a variety of approaches, resources, and techniques. Follow up with your potential employers.
- By April or May, most organizations know their needs for the summer. If you’ve already made contact, you’ll be in a better position to secure an opportunity. Keep at it and follow up on leads and contacts.
- Check whether your college offers grants, awards, or stipends to help underwrite student participation in public/community service summer jobs or internships.
- As the semester ends, consider phoning organizations to ask about employment.
- Some students may land summer jobs once they get to their target location.
- Check the websites of interesting organizations to see whether they have openings. Follow up by phone after you’ve applied. Also check field-specific professional associations whose websites may list internship and summer job programs.
Check out these links:
www.MonsterTrak.com The largest and most visited college-targeted site. Services include job listings, resume posting, job search tips for college students, and a career contact network.
www.campjobs.com The online source for summer camp employment.
www.coolworks.com Seasonal jobs in national parks, ski resorts, ranches, theme parks, tour companies, and more.
www.snagajob.com Job opportunities in retail, restaurant, entertainment, automotive, office, and many other industries in all 50 states.
And also:
www.summerjobs.com (summer jobs and seasonal staff positions with camps, amusement parks, resorts, national parks, hotels, environmental organizations, and more)
www.backdoorjobs.com (short-term adventure jobs)
www.amigoslink.org (volunteer opportunities in Latin America)
www.groovejob.com/jobs/summer-jobs (part-time and summer jobs for students and teens)
Internships:
www.studentjobs.gov (detailed information on all student hiring programs in the federal government including summer employment)
www.tech-interns.com (science and engineering internships)
intern.studyabroad.com (internships abroad)
Additional information
Visit Nellie Mae’s money management center designed exclusively for undergraduate students.
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The FinMan Program is provided by Nellie Mae. Learn more at www.nelliemae.com/FinMan.