Right about now you're probably counting down the days until your classes are over, your papers are turned in, and your final exams are history. And pretty soon, you'll be counting all the cash you'll be making at your summer job and all the ways you can spend it! But before you do that, think beyond your tan line and consider the bottom line. By not spending all the money you earn over the summer, you can have a nice stack when you head back to school in the fall. Here's how:
1. Set a savings goal. Once you know what your summer wages will be, set a savings goal and don't spend that money. Make your goal specific and achievable, like putting away $50 a week for 10 weeks. When you're back on campus, your stash of cash can help pay for things that you'll need, like a parking permit, lab fees, books, supplies, or a refrigerator full of your favorite foods!
2. Develop a summer budget. To help reinforce your savings goal and keep your spending in line, create and follow a summer budget.
3. Have your earnings automatically deposited. Choose direct deposit to your savings account if your employer offers it. The less opportunity you have to handle your money, the easier it will be to save. Also, try to withdraw cash from your ATM just once a week.
4. Continue to live like a student. You may be tempted to kick up your spending over the summer, especially if you're making good money. But the more you can continue to live below your means until you finish school, the better off you'll be.
Check out www.nelliemae.com/finman for more FinMan tips on how to save your cool cash this summer.
| ENTER to win a prepaid AT&T calling card! Send an e-mail to finman@nelliemae.com by May 12, 2006 and provide the following information: your name, school name, campus mailing address, campus e-mail address, and campus telephone number. All responses will be entered into a drawing and winners will be randomly selected. Click here for additional drawing details. |
© 2006 Nellie Mae
campjobs.com
The online source for summer employment opportunities.
coolworks.com
Seasonal jobs in national parks, ski resorts, ranches, theme parks, tour companies and more.
snagajob.com
Job opportunities in retail, restaurant, entertainment, automotive, office, and many other industries in all 50 states.
summerjobs.com Career resources and employment opportunities for high school and college students, resort and hospitality staff, expatriates and international job seekers, part-time workers, and adventure seekers.
