Personal Finance

Better Finances for a Better You

Topic: "Personal finance topics for college students"

← Curating the web to find the most interesting and helpful information about your money.

Serious stuff

Making financial decisions – including around budgeting, taking out loans or investing – can be daunting, and many college students feel ill-equipped to do so.

Financial Literacy: What College Students Need to Know by Sarah Wood →

Investing

How to Start Investing in Canada: 9 Steps to Success by Steven Porrello

1. Assess your risk tolerance 2. Choose Your Investing Style 3. Decide How Much You Can Invest 4. Pick the Right Kind of Stock Investments 5. Choose a broker 6. Open the right investment account 7. Diversify Your Stocks 8. Keep a Steady Eye on Your Portfolio 9. Invest Consistently for the Long-Term

You may only have a little money, but consistently investing a little bit every month grows over time →

Did you know?

According to the national average of searches, student loans are the most Googled financial topic, with 2,441,000 searches on average across the US.

The most googled financial topics by state →

Budgeting

Budgets are the building blocks of financial stability

  1. Automate bill payments
  2. Create a “wants list” to curb overspending
  3. Use cash or a debit card for your problem spending areas
  4. Sock away funds for emergencies
  5. Get realistic with sinking funds
  6. Save on homeowners and auto insurance
  7. Gulp your daily “budget smoothie”
  8. Budget with your partner
  9. Use a free budgeting app like Neontra
9 budgeting hacks that help build financial strength and resilience from Empower.com →

Saving

Our consumer culture pressures many of us to live above our means. The good news is that making a personal and household commitment to a more frugal lifestyle can be a fulfilling, healthy choice and can save you a lot of money.

Saving 65 Tips to Save Money Through Self-Reliance By Kale Roberts →

Budgeting

5 common credit mistakes you should avoid in your 20s by Megan DeMatteo 1) Spending without a plan 2) Using debit over credit 3) Waiting to establish credit 4) Not understanding key terms 5) Getting store cards on a whim

It can be hard to get your finances together in your 20s, learn how avoid common credit mistakes →

Infographic of the week

Ranked: Median Student Debt for a U.S. College Degree

According to the Federal Reserve, student loans added up to $1.6 trillion in Q2 2023, making them the third largest category of U.S. household debt behind auto loans ($1.8 trillion) and mortgages ($12 trillion).

Ranked: Median Student Debt for a U.S. College Degree The Visual Capitalist ranks student debt by U.S. college degrees →

Did you know?

At the national level, full-time graduate students paid, on average, $7,437 for the 2022/2023 academic year, whereas undergraduate students paid $6,834. This represents a 1.7% and 2.6% increase, respectively, from the previous year.

Tuition fees increase for Canadian undergraduate and graduate students →

Word of the week

Exchange-Traded Fund (ETF)

An ETF is essentially a basket of investments such as stocks or bonds. In this sense they’re similar to mutual funds, but unlike mutual funds, shares of ETFs can be traded throughout the day on an exchange, much like an individual stock.

Learn about the benefits of ETFs →

Budgeting

While you would be forgiven for being nose-deep in your books, it’s time to take a minute to reflect on how you’re managing your money. Do you have a budget? Or are you spending on the go?

21 money-saving tips and tricks for students →

Word of the week

GIC (Guaranteed Investment Certificate)

"Guaranteed Investment Certificates (GICs) and term deposits are secured investments. This means that you get back the amount you invest at the end of your term. The key difference between a GIC and a term deposit is the length of the term. Term deposits generally have shorter terms than GICs."

Learn about the key details before buying a GIC →

← Curating the web to find the most interesting and helpful information about your money.