How to start managing money as a college student
College students face anxiety and uncertainty around how to begin budgeting, handling student loans, and saving for long-term goals like retirement and homeownership. This lack of a clear starting point leaves them feeling hopeless and unsure about how much to set aside.
What people tried
Every workaround mentioned in the threads below. We haven’t tested any of them — and nobody here is claiming they worked.
Found another way around this?
Share your steps and trade-offs so fellow engineers don't have to reinvent the wheel. No account required.
- 1saving moneyDid this help you?
- 2working in the summersDid this help you?
- 3taking out loans for collegeDid this help you?
- 4Making a bare-bones budgetDid this help you?
- 5Building a small emergency fundDid this help you?
- 6Using budgeting tools and spreadsheets or apps like YNABDid this help you?
- 7Reviewing community wikis and financial flowchartsDid this help you?
- 8Reading subreddit wikis and common topics guidesDid this help you?
- 9Setting up direct contributions from workDid this help you?
- 10Opening high-yield savings accounts at separate bank entitiesDid this help you?
- 11relying on family accountsDid this help you?
- 12asking for community recommendations on beginner cards and banksDid this help you?
- 13searching wikis and financial forumsDid this help you?
- 14Focus on good grades, studying hard, and securing college scholarshipsDid this help you?
- 15Relying on parents for financial support during school and collegeDid this help you?
- 16Planning for full-time work only after finishing high schoolDid this help you?
- 17Learning a trade after graduation instead of pursuing traditional academic pathsDid this help you?
- 18Reading financial wikis and beginner guidesDid this help you?
- 19Reading personal finance books like Rich Dad Poor DadDid this help you?
- 20Setting up automated deposits into a high-yield savings accountDid this help you?
In their words
Unedited, grouped by where they were said, most upvoted first within each place, each linked to the thread it came from.
“I am currently a highschool junior, working as a music teacher at a company ($22/hr) and as a performer ($100/hr)”source ↗
“It is super difficult to get gigs, especially living in a small city, and hours are unstable as a teacher and hard to get due to balancing competitions, school, and college prep”source ↗
“I barely spend any money either, per month I spend around $20 on food while I’m working”source ↗
“I am trying to become financially independent early so I could move out and be able to support myself, any suggestions on what I can do?”source ↗
“I am 20 years old and was never taught on how to save,have a HYSA, credit card or retirement account and such”source ↗
“I would like to know what are some steps that I should take to start since I’ve been told it’s better to start now than later.”source ↗
“I would like to be able to live comfortably in the near future without worries and would want to learn now on how to be able to do that”source ↗
“I'm a full time grad student and have never had a credit card, or a bank account of my own (I've always had one under my parents), and I just moved in with my partner so I want to establish my own finances independently.”source ↗
“I really appreciate the kind words, I don’t want my parents supporting me throughout college because they will use that as leverage for me to come back and visit, which I do not want to do, is there any way I can earn more?”source ↗
“Thank you for the kind words, if I rough it out and hop around friends’ houses, I do still have 2 years of school to go and then college”source ↗
“the biggest struggle I’m having right now is finding a jumping off point. None of my friends or anyone my age that I know is trying to set them selves up like this right now.”source ↗
“I guess I’m just worried I’m going to do something wrong or this isn’t what I should be worried about”source ↗
“Idk why I’m just really nervous about it and am not going crazy over it which is why I’m posting.”source ↗
“Not sure how to start managing my money. Need advice.”source ↗
“Ultimately my goal is to have a home and family, but I have been feeling rather hopeless. I’m just looking for advice on how I should save money and how much I should put into retirement etc.”source ↗
“I am 18 and recently started a job in robotics, Im making approximately 51k before taxes and need to become more financially literate.”source ↗
Where this came up
People with this problem also raised
- 4How to balance saving money and traveling in college
- 6Where do beginners learn personal finance?
- 2How to handle massive debt while still in school
- 3How to survive the summer pay gap after taking teacher leave
- 3How do I get off my parents' credit card without ruining my credit?
- 18Taking intermediate accounting, tax, and cost accounting all at once