Spending and Protecting

Spend Wisely, Protect Yourself

Transitioning from high school student to college student involves a lot of planning. In addition to preparing for dorm life by purchasing extra long bed sheets and coordinating with your roommate-to-be, you also need to get your financial house in order. This can involve a variety of steps from creating a student budget and opening the right student banking accounts to buying your first car with the help of a student auto loan. You should also think about insuring yourself and your possessions and how to make money in college. If you're taking all of these steps for the first time in your life you should know you're not alone. Student Finance Domain can help you make sense of it all.

Surviving college on a student budget.

There are many reasons a college student should be interested in budget planning. Creating a student budget is the easiest way to keep track of your income and expenses. A budget allows you to take inventory of your financials and lets you set specific financial goals. Though your individual goals may range from ordering pizza every Sunday night, to investing for the first time, to taking a road trip to PCB for spring break, or learning how to go green ,one thing remains certain. You can't reach your goals without a plan.

Budget planning will help you prioritize what you spend your money on. In order to create your first student budget properly you'll have to ask yourself some tough questions. Is it more important that you have cable television or internet access, or can you afford both? Can you participate in a weekly study group where participants alternate buying pizza for each other? Can you afford to buy a used car with the help of a student auto loan and if so can you afford the car insurance? Do you have student travel insurance for your many trips home for the holidays?Are you prepared to use your student health insurance in case you have any unexpected trips to the school nurse? Student Finance Domain has outlined some tips to help you create a budget that will work for you and your particular circumstances. Take the budget planning process seriously and you'll get a handle on how you really spend your money.

Protect yourself now, protect your future.

Getting an education is not the only step you should take to ensure your future is full of possibilities. You need to have the right student insurance today. Because insurance delivers more than just peace of mind. It also helps to protect you, your assets and your future assets if the 'unthinkable' were to happen. That means having health insurance, auto insurance if you have a car, and even student personal property insurance to protect your stuff while living in a dorm or apartment.

Most colleges require students to carry health insurance coverage. Even if your particular school doesn't require it, it's a really smart idea to have it. The rising costs of healthcare make it seemingly impossible for the uninsured to afford care. Especially when an illness or accident could cost you thousands of dollars in treatment. If you're still covered by your parents' health insurance plans, consider yourself lucky. If not, student insurance coverage can protect you.

If you have a car, it's imperative that you include auto insurance in your budget planning. Although people under 25 pay the highest insurance premiums of any other age group, it's a mistake to forgo insurance altogether. Driving without auto insurance is illegal in most places in the United States and having an accident as an uninsured driver can deliver many legal and financial consequences. Your personal assets can be liquidated and taken from you to pay for damage you cause and harm you inflict on another person. Your credit will suffer throughout your 20s and perhaps beyond. In addition you could lose your license and in some cases serve a jail sentence. That's not a smart gamble for a college student to take. But don't banish your cruising dreams just yet, because you have many student insurance options and there are a number of ways you can lower your premiums.

Another type of insurance coverage that's important for students is personal property insurance. That's because living in a dorm or in an apartment puts your personal possessions at risk. There are many opportunities for theft while you're at college. Be sure to protect your stereo, your laptop, and the rest of your favorite things. You could save hundreds or thousands of dollars, and a lot of heartache.

Creating a student budget is a worthwhile exercise that will allow you to get smart about the money you have. The process of budget planning requires you to be honest with yourself about money; how much you have, how much you'll have coming in, and how much you'll need to spend each month as a college student. Arm yourself with college student budget tips and ways you can bridge the gap between budget and expenses..

Whether you live on campus or off, transportation options and of course the costs associated with those are important considerations. If you live off campus, or have a job that is off campus, you may be considering purchasing a new or used car. Luckily there are many different student auto loans that can help you finance your new set of wheels.

There are many student insurance options that college students should be aware of. Insurance provides you with financial protection and can also can give you peace of mind. From health insurance to personal property insurance and of course auto insurance for car owners, you should know what your options are. Although insurance premiums can be pricey on a tight student budget, the benefits almost always outweigh the risks you'd face by not carrying it.