If you're not a homeowner or you have very poor credit, consider debt relief instead of a mortgage.

1) Type of debt:

Credit Card Debt
Student Loan Debt
Tax Debt
Other Debt

2) What State do you live in?

 
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Budgeting

Many students have little experience with budgeting money, particularly if they have never had to pay their own living expenses or manage an income. It's vital that you now learn how to budget your money.

Budget Worksheet
You can create your budget worksheet on paper or on the computer in Excel. When you list your living expenses, make sure you include everything. Your list might include any of the following:

  • Tuition and fees
  • Rent or dorm charges
  • Food
  • Laundry
  • Transportation
  • Personal care items

Your income should include all money you have coming in, including work earnings, family support, and financial aid. You may have to pay some expenses in a lump sum and often, the financial aid office credits some of your financial aid directly to your school account to pay tuition, fees, and on-campus housing expenses. You must budget any aid you receive to pay your monthly expenses.

Maintaining your Budget
It's important that you keep up with your budget every month. If you find that you're consistently spending more than you're bringing in, reevaluate your budget. You don't want to run through your semester's money half-way through. It's not a good idea to accumulate credit card debt to make up your budget deficit.

If you need additional help to create or stick to your budget, talk to your financial aid office. They might offer budgeting resources, including budgeting workshops.

Money Saving Tips
Generally, students have limited incomes. For this reason, many business offer student discounts. Make sure to carry your student ID card everywhere you go. Colleges often make efforts to create free entertainment for their students. Take advantage of any free concerts, plays, or other events, both on campus and in your community. You can also save money by buying second-hand books, eating 'in' more than 'out,' staying away from credit card purchases, and using coupons.

Keeping a budget is hard, especially for young adults on their own for the first time. Doing so, however, will save you money while you're in school and afterwards.