The semester is over and now you’re going back home for the summer. You made it through the semester and now you’re broke. The big question is how are you going to have money to blow when you go back to school in the fall? Sure, you can mow lawns or go back to the part-time job you had last year, but you have to be smart and try to save some of that money instead of going out all the time with your high school buddies. Here are a few tips for you this summer so you have a little cash left in your wallet come September:

1. Find out what you’re blowing your money on and eliminate these actions. If you look at your bank statement online from time to time and wonder where your money goes, try to figure out where you’re blowing your cash. Are you spending too loosely on snacks or clothes you don’t necessarily need? Whatever the little extra expenses are you have get to the root of the problem and eliminate that spending.

2. Set goals for yourself. Figure out how much you’ll have to spend in the fall on books and then triple that number. That’s how much you’ll need for next semester. Books can run you close to a thousand dollars nowadays, so you’ll have to set that aside and then you have to figure you’ll need three times that amount for going out and any other expenditures that come along your way when you’re living away from home.

3. Avoid using your credit cards. This is the time when you can put your credit card away. You’re back at home. Eat your parents’ food. Get a job that requires you to work at least five days a week so you’re not tempted to go shopping all the time. Go to a friend’s house instead of going out to the bar every night. These are all ways you can keep your credit card in your wallet.

4. Don’t go to the mall. It’s that simple: don’t go to the mall. If you find yourself in the mall you’re going to spend money especially if you go with friends. If you need one thing then go to that store and buy it and then leave the mall.

5. Tell your parents your financial plans. If you can speak with clarity about your financial situation to your parents they will help you along the way. Let them know what you’re going to do this summer for work and then let them know your projected budget for next semester and if you need some holes filled in your wallet they’ll be more apt to help out versus asking them for money in October when you’ve blown your savings.

By-line:

Heather Johnson is a regular commentator on the subject of graduate school grants. She welcomes your feedback and potential job inquiries at at heatherjohnson2323 at gmail dot com.

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