Begin building a rainy day fund for your time on campus
September 28, 2011
Even though the many options of college scholarships, grants for parents and other forms of financial aid can significantly reduce the cost of tuition, you may never know when you'll need some extra money for an unexpected expense. College is more affordable than ever, but before you leave your current job and head off into the world of higher education, make sure that you have savings in place to get you through your program.
A healthy savings account is something that every responsible adult should have before heading off to school. In particular, if you are receiving student loans and there is a slight fluctuation in interest rates or payments, you'll be glad that you have an extra source of funds to pay off the difference.
Lastly, you never know if you're going to get into an accident or have something stolen and you'll need that nest egg to get you through it. While this is highly unlikely, having an extra source of money when you're on campus can make a huge difference and allow you to concentrate on your studies, rather than potential financial woes.
