Make It Last: Tips for Budgeting Your Financial Aid Refund

In a recent SwC poll, we asked students if they had set up a budget for their financial aid refund yet. Surprisingly, a whopping 63 percent said they had not.

Since it’s already February, now is the time to make sure you will have enough money to last the semester. After all, you don’t want to end up scrambling for cash when you should be studying for final exams. Setting up a budget can help achieve that goal by giving you a clear idea of how much you can reasonably spend each week. Use this handy calculator to help you figure it out by entering your remaining available refund dollars and the number of weeks left in the semester.

SwC Poll: Have you set a budget for your Financial Aid refund?

63% Responded NO

If you are struggling to stay within your budget, here are a few tips to help keep you on track:

  • Take full advantage of your meal plan at school to avoid dining out too much
  • Make food/snacks at home to bring to class instead of hitting the vending machines
  • Ask your friends to help support your savings goal through Facebook or other social media channels
  • Use your talents to make extra cash by tutoring, coaching, running errands, or pet walking
  • Look online for coupons and special deals, or shop at a dollar store for the things you use most such as shampoo, toothpaste and soap

 

Speaking of managing your money, tells us about your biggest challenge by taking our latest poll:

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