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Summer Jobs and Savings
It’s hard to believe, but summer is in full swing! Are you spending part of your summer working? Summer jobs are a great way to earn money and gain experience. Saving even a portion of your summer earnings to help pay for next year’s college expenses can make a big difference! Think about the piecemeal approach we talked about last week. Every additional "piece" (funding source) you can add to your funding "pie" will make paying for school easier and give you more options.
What are some ways to make saving easier and more successful? First, set a savings goal. Setting a goal provides focus, allows you to measure your progress, and can help boost your motivation. Decide how much you need to save each week to reach your goal. Next, have that amount directly deposited into an account that’s not tied to your debit card. When money is directly deposited and not seen, you tend not to miss it as much. Not having easy access through your debit card removes some of the temptation to spend it.
Taking these steps now will get you off to a great start! Next week we’re going to add another important piece to your funding pie: scholarships. We’ll provide important tips to help you ace your scholarship search!
FAME's Financial Aid and FAFSA Help is Always Free!
Have questions? We’ve got answers! You can reach us by phone at 800-228-3734 (TTY: 207-626-2717), or by email at Education@FAMEmaine.com.
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