Summer before college can feel like a whirlwind of packing lists, roommate group chats, and goodbyes. But amid the excitement, there’s one thing you shouldn’t leave until the last minute: your finances.
Getting organized before you set foot on campus can save you stress (and money) later. Here’s a simple guide to planning your college finances over the summer—so you can start your first semester feeling confident and prepared.
📊 1. Know What College Will Really Cost
Tuition isn’t the whole picture. Take time to calculate the true cost of attendance. Include:
✅ Tuition and fees
✅ Room and board
✅ Books and supplies
✅ Transportation
✅ Personal expenses (laundry, toiletries, coffee runs)
Tip: Many colleges list estimated costs on their financial aid websites—look for the “Cost of Attendance” breakdown.
💵 2. Make a Simple Budget
Once you know your expenses, figure out what money you’ll have coming in:
✅ Scholarships and grants
✅ Student loans
✅ Savings
✅ Family contributions
✅ Any income from a part-time job
Subtract expenses from income. If there’s a gap, you’ll know early and can look for additional aid or cut nonessential costs.
Tip: Apps like Mint, YNAB (You Need A Budget), or a simple spreadsheet can help you track spending.
🏦 3. Set Up a Bank Account
If you don’t already have one, summer is the perfect time to open a checking account. Look for:
✅ No monthly fees
✅ ATM access near campus
✅ Mobile banking features
Decide whether you want a local credit union, a national bank, or an online bank.
Tip: If you already have an account, make sure you have a debit card and know how to transfer money.
💳 4. Learn About Credit (and Use It Carefully)
Some students consider opening a student credit card to start building credit history. If you do:
✅ Keep your limit low
✅ Use it only for planned purchases
✅ Pay it off in full every month
Remember: Credit cards are not free money. They’re a tool—only spend what you can repay.
📚 5. Shop Smart for Textbooks
Textbooks can cost hundreds of dollars if you buy them new. Before you hit the campus bookstore, explore:
✅ Renting textbooks
✅ Buying used copies
✅ Checking your library’s reserve section
✅ Digital or open-access materials
Tip: Wait to buy until after your first class, when you know which books are really required.
🕒 6. Plan for Emergencies
Set aside a little cushion for unexpected expenses—like medical co-pays, surprise fees, or travel home. Even $200–$500 in an emergency fund can make a big difference.
Tip: Keep this money separate so you’re not tempted to spend it on impulse buys.
🎯 Final Thoughts
College is an exciting new chapter—and getting your finances organized now means fewer worries once classes start. Use this summer to set up your accounts, make a budget, and learn the basics of managing your money.
Your future self will thank you.
🔗 Additional Resources
If you’d like more support, check out these helpful links:
College-Ready 
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