Tips On Budgeting

• Once you have a budget structure reevaluate your budget every other month. Remember expenses will change.
• Your budget should include 5-10% of your net salary going into savings. See hints below.
• Wait 2 weeks before any major purchase - if you still want the item and it fits into your budget buy it.
• Balance your checkbook every pay day!!!
• Once a month evaluate the amount you are spending on bank fees (ATM charges, check charges etc.)
• If you have bad credit or cannot make a budget work, seek help. Consumer Credit Counseling Services is a free United Way service or Valencia students can contact your Student Assistance Services (SAS) counselor.

Tips on Credit Cards

• If you do not posses a credit card, think twice about applying for one. Can you afford another monthly payment? Do you need a credit card? Can you control your spending?
• If you have a credit card or need to apply for one, shop around for the best permanent rate.
• Be cautious of low interest rate cards - the interest rate is usually temporary and the permanent rate can be EXTREMLY high.
• Be cautious about spontaneous credit card purchases - do not carry the card with you. Better yet, freeze the card in a bowl of water so you must defrost it before using it. This gives you time to think about your need vs. want to purchase.

Tips on Savings

• Open a savings account and write a check to the account each payday - treat this account like a bill.
• DO NOT have an ATM card for your savings account. Temptation is too great!!
• Open your savings account across town, thus, you need to plan to make a withdrawal. Make spending this money inconvenient.
• Do not spend any of the coins you receive - dump all of your change into a large jar or piggy bank at the end of the day. Hint - make sure the jar's opening is too small for your hand to fit into. If you use a piggy bank, choose one with no openings, the only way to retrieve the money is to break the bank when it is full.

Tips On Smart Shopping

• Shop around - never pay full price - everything goes on sale
• Be cautious of buying in bulk. If you cannot use all of the item before it spoils, the lower price is not a bargain?
• Be cautious about using coupons. Many times a different brand's regular price is cheaper than the coupon price of a name brand.
• Take mileage into consideration as part of the cost. If you must drive 30 miles to save $.25, is it really a bargain.
• Make a list of what you want to buy and how much you want to pay. Plan before shopping.
• Carry only enough money to buy what you planned to buy. This reduces spontaneous purchases.

Tips On Reducing Monthly Bills

• Shop around for the best cost on car insurance
• Eliminate add ons - pay for basic services only (telephone, cable, etc.)
• Sharing expenses can save money, but make sure the person you are sharing with is a responsible person who will keep up his/her commitment.
• Living at home while in school is the cheapest housing available. Following family rules is a small price to pay for the savings you can receive.