One of the best investments that one can make, depending on who you ask, is education. For this reason, it makes sense to save money for college so that you can ultimately receive a degree. Robert Jain, as well as other authorities on finance, can tell you that there are right and wrong ways to save money. For those that would like to learn more, here are a few do's and don'ts that will help you get started.
DO start early. According to authorities on finance like Bob Jain, saving money for anything is easiest when it's done early. The same can be said about college, which means that you should take certain measures as early as possible. Whether it's saving a little money each week or applying for a part-time job, it's never too early to get a head start. Your account will thank you for it, too.
DON'T let savings bonds go unrecognized. For those that don't know, a savings bond is a type of investment that offers fixed interest from year to year. What this means is that once it's time to pay out, the bond in question will provide a significantly higher value than when it was established. This is a common gift given by grandparents, which makes sense given their value. They are often used to pay for school, which is why it's worth recognizing them.
DO your research when it comes to financial aid. If you want to make paying for school easier, it's wise to learn about financial aid. Not everyone is eligible for this, however. First, you must be a United States citizen. Second, you have to maintain a minimum grade point average. Specific requirements will vary from school to school, which means that research is that much more important. You'll have a better understanding of what's expected of you.
DON'T be shy about asking for help. One of the ways that you can do this is by asking your parents for a loan. You can do this if you find that you're short on funds. It's also worth noting the possibility of asking your family for guidance. Chances are, they know more about finance than you, which means that you can use their advice to save even more money. The sooner that you ask for help, the more money you stand the chance of saving.
DO start early. According to authorities on finance like Bob Jain, saving money for anything is easiest when it's done early. The same can be said about college, which means that you should take certain measures as early as possible. Whether it's saving a little money each week or applying for a part-time job, it's never too early to get a head start. Your account will thank you for it, too.
DON'T let savings bonds go unrecognized. For those that don't know, a savings bond is a type of investment that offers fixed interest from year to year. What this means is that once it's time to pay out, the bond in question will provide a significantly higher value than when it was established. This is a common gift given by grandparents, which makes sense given their value. They are often used to pay for school, which is why it's worth recognizing them.
DO your research when it comes to financial aid. If you want to make paying for school easier, it's wise to learn about financial aid. Not everyone is eligible for this, however. First, you must be a United States citizen. Second, you have to maintain a minimum grade point average. Specific requirements will vary from school to school, which means that research is that much more important. You'll have a better understanding of what's expected of you.
DON'T be shy about asking for help. One of the ways that you can do this is by asking your parents for a loan. You can do this if you find that you're short on funds. It's also worth noting the possibility of asking your family for guidance. Chances are, they know more about finance than you, which means that you can use their advice to save even more money. The sooner that you ask for help, the more money you stand the chance of saving.
