By Basil Alfaro - Andover
As high school students, we often look to spend our money for things to make our lives easier. However, we've all made mistakes spending money, and below are the top 5 mistakes all of us have made.
When it comes to textbooks, they should never be bought with the school. They're often overpriced, and on backorder frequently. Chances are your books will come late and you might even change your classes, getting behind before you’ve even really started. Instead of ordering through the school, look to other ordering through Amazon or Chegg.com.
Not Keeping Track of Spending: Monitor Your Blue Card
High school students often spend their money as if it's limitless. We refuse to check our balance and hope we can afford something when we swipe their Blue Card. Check your balance to avoid unnecessary conversation with your parents for more money.
Not Even Thinking of Saving: Try Mint.com
Ever hear of time value of money? A dollar today is worth more than a dollar tomorrow because you can earn interest on it. Don't feel obligated to spend just because you have more money than you're used to. Save the money and earn interest on it over time.
Lack of Trip Planning: Try Hipmunk
Booking travel the week of a trip? You're probably going to get ripped off. Plan any trip at least a month in advance and monitor flight or train amounts. Tools like Hipmunk make it much easier to see where you need to go and create a budget around your trip.
Buying Things You Don't Need
This one is pretty obvious, but "want" and "need" are two incredible different things, yet we all often get the two mixed up. Retail therapy will not cure your midterm stress. Students get distracted by items online, like clothing, and immediately think they have to have it. In reality, you will probably forget about it in the next half hour. Don’t hit checkout.
Ordering delivery food should not be a regular activity during the week. A student, especially in a boarding environment, has food on campus that's close by. By going to the cafeteria, dinner takes 10 minutes. By ordering, it can take over an hour of time. Not only are you wasting money through delivery, yet also time by waiting an hour for food.
Want to write for NextGenVest? Email firstname.lastname@example.org with your name and school!