Going to college is already a huge change from what you’re used to during your high school days. But maybe you wanted to take a step further and live on your own. Whether it’s your very first apartment or the college dorms, living on your own isn’t easy. In fact, you’d be amazed how many new students get overwhelmed when they first start out. But with the right knowledge and expectations, living on your own as a college student won’t be so hard. In this article, we’ll be going over how college students can live comfortably on their own.
Start Building Financial Security
The first thing you need to do is start building up your financial security. Financial security is basically how much money you’re able to keep around after your monthly expenses. Saving money is often considered to be a very challenging task to accomplish. That said, many may need to fall back on external methods of financing. This can be a personal loan or a credit card. Since you’re a new college student, you’re far better off applying for the latter. Credit cards are easier to acquire and can help you build up your credit as well. College students have an advantage when applying as there are some options that have no fee.
Stick to Your Budget
Knowing how to budget and sticking to it are both money management tips but are still two completely different beasts. Your budget is your entire financial plan laid out on paper. But sticking to it isn’t always easy. It’s only natural to find something you want to buy, but that doesn’t mean you should. With all the expenses you must pay, splurging is far from recommended. Doing so can leave you with less money in the bank each month. Sticking to your budget doesn’t have to be some uphill battle either. A simple, yet very effective method is the 50/30/20 rule. You devote 50 percent of your budget to the necessary expenses; 30 percent goes to your splurges, and 20 percent goes to the bank. This is a great way for beginners to find a balance in their spending.
Socialize with Your Peers
College is, unfortunately, known to be physically and emotionally draining at times. The work you must complete can be very challenging and stress you out. In fact, you’d be surprised how many new students experience college burnout. As important as the work is, you shouldn’t neglect your personal needs. One of these needs includes socialization. Humans were meant to socialize with others, not isolate themselves in their dorm room. Being in college gives you a wonderful opportunity to mingle with like-minded people and make friends. Having a social circle can really make a difference between feeling burnt out and completing your work diligently to spend time with your friends.
Apply for a Scholarship
If there’s one thing that can help any college student live more comfortably, it’s not having to pay student loan debt. The best way to do so is to apply for a scholarship. Scholarships are basically a free education and can really help take a load of stress off your back.