If you're a college student, you know how difficult it can be to balance your budget, finances, work, and school. Whether you're struggling with the new semester or trying to work and attend class full-time, here are a few savvy college students who've been there, done that (and make it look cool).
Pilar is a student who understands the busyness with college life and balancing priorities. She moved to the U.S. from Brazil and is studying architecture. Pilar says, "Don't forget the reason and where you started."
To stay focused and disciplined:
- Try You Need a Budget (YNAB) for managing bills.
- Use a ridesharing program to save on gas.
- Reduce recurring monthly expenses and cut high rental payments with roommates.
- Set up income-based student loan payments.
Fact: There are over 44.2 million students with student loans, but a lot don't set up goals or budgets.
Julia or "Jules", is a college student who knows how to prioritize. "With all of our stresses in life, whether it be money, relationships, grades, etc, it can be so hard to stay positive."
To maintain a positive focus:
- Stop and smell the roses and look for ways to cut costs.
- Count your blessings and pray.
- Set goals into the future.
Fact: If you searched online for "personal loan for international student" but still got turned down, it might be your debt-to-income ratio. Nearly $620 billion is owed in credit card debt in the U.S.
If there's anyone who knows about maintaining perspective during college, it's grad student Valerie. Valerie balances her rigorous Biology coursework (for a masters program, btw) and her style and health conscious influencer status.
Earlier this year, Valerie published her New Year’s resolutions on her blog to make sure she held herself accountable. Here they are:
- Be clean (organized messes don’t count!)
- Be better at responding to people (don’t “lose” anyone you care about)
- Learn to say “No” (spend time with people you actually like)
- Stay fit (your metabolism can’t help you forever!)
Follow Valerie @ValerieDaBomb
Fact: Perhaps you searched online for "how to apply for loan without ssn" or "how to apply for loan without ssn but had your application denied. While over $1.48 trillion is owed in student loans, reducing your credit card debt can increase your credit score.
Kiara is busy. The college student is a blogger and influencer with a YouTube channel. About all the busyness, Kiara says, "Your work ethic may be admirable, but it's not worth your sanity to grind yourself crazy."
To increase your cash flow (and have less stress):
- Buy a used car so you won't have a car payment.
- Don't use the money on your cards as cash. Pay them off instead.
- Cut out cable and dining out. You can make your own meals and stream movies.
Follow Kiara @_KiaraNelson
Fact: If you searched online for "auto loan international student" or "auto loan no ssn", but still got turned down, it might be due to high debt. The class of 2017 graduated with an average of $39,400 in debt.
If school life and bills sound tough, can you imagine facing an illness as a student? That's what happened to Nyla, but she didn't let setbacks stop her. She started a non-profit to help others overcome their hardships.
She says, "Change your perspective...so that you may change your outcome."
To have a more positive perspective:
- Remember to talk to others about bills, exams, and life.
- Don't isolate yourself. Reach out to counselors, relatives, and friends.
- Find a cause to support. Helping others helps you, too.
Follow Nyla @HustleHard_Campaign
Fact: 40 percent of student loan debt is money used for graduate coursework and professional studies.
Ultimately, while school can be stressful, you're not alone. Use the tips above and speak to a financial advisor so you're not overwhelmed by the financial strain. Boro Credit offers no credit auto loans and personal loans for students. Loans can be used for outstanding debts, a new laptop, vacation, or other expenses. With no social security number required, they take the stress out of loans so you can focus on getting good grades and graduating.