Money Tips Every College Freshman Needs

Starting college is a huge milestone—you’re finally on your own! 🎉 But along with the freedom comes a new challenge: managing your money. Between student loans, living expenses, and just wanting to have fun, it’s easy to feel overwhelmed.

The good news? You don’t need to have it all figured out right away. Financial educator Yanely Espinal (NPR’s Life Kit) says it’s all about setting up small systems now that make life way easier later. Here’s how to get started:

💸 Don’t Borrow More Than You’ll Make

A quick rule: Try to keep your total student loans under what you’ll earn in your first year after graduation. It’ll save you a lot of stress down the road.

🗣️ Talk About Money

It might feel awkward, but being real about money with your new college friends helps. You’ll realize you’re not alone—and you might even find clever ways to save together.

💳 Be Careful With Credit Cards

Banks love targeting college students with “easy” cards. Shop around first, and don’t swipe for stuff you can’t pay off in full each month. Interest adds up fast.

🏠 Set Ground Rules With Roommates

Avoid drama later. Write out who pays for what—like internet, groceries, or utilities—so everyone knows the plan.

🎓 Keep Applying for Scholarships

Free money doesn’t stop after freshman year. Tons of scholarships are out there for continuing students—apply, apply, apply!

📉 Pay Down Interest Early

If you can, make small payments toward your student loans while you’re in school. Even $20 here and there helps keep your balance from ballooning.

👩‍🍳 Consider a Campus Job

A part-time gig nearby can help cover snacks, books, or weekend fun money—and it looks great on your résumé.

Bottom Line

College is about learning, exploring, and building your future. 💛 Don’t let money stress hold you back. Start small, stay consistent, and remember—you’ve got this!