TENCU Chronicles

College is full of firsts: first dorm, first all-nighter, first 8 a.m. class you swore you'd never skip. It might also be the first time you fully manage your finances. While it's tempting to live in the moment (hello, pizza delivery and spring break plans), getting a handle on your money now sets you up for success later. Here's what every college student should know about managing money—without making it boring.

1. Create a Budget (and Use It)

Yes, the "B" word. Budgeting isn't about restriction—it's about knowing where your money's going. Apps like Mint, YNAB, or a spreadsheet can help you track income (like part-time job paychecks or student loans) and expenses (like textbooks, groceries, and your daily latte).

Quick Tip: Use the 50/30/20 rule as a starting point—50% for needs, 30% for wants, and 20% for savings or debt.

2. Avoid the "Free" Credit Card Trap

Credit card companies love to set up shop on campuses, offering swag for signing up. While credit cards can help you build credit, they can also lead to serious debt if used carelessly.

Do This Instead: Start with a student or secured credit card. Only charge what you can afford to pay off each month, and never miss a payment.

3. Find (and Use) Student Discounts

Your student ID is a secret weapon. Many retailers, restaurants, and streaming services offer student discounts—so don't be shy about asking. Even browser extensions like Honey or Student Beans help you find deals automatically.

4. Build Good Habits Early

Saving $5 a week might not seem like much, but it adds up. Create a habit of saving, even if it's small. Open a savings account and set up auto-transfers when you get paid.

Extra Credit: Start an emergency fund. Even $300 tucked away can save you when surprise expenses pop up.

5. Know the Basics of Student Loans

If you're borrowing to pay for school, learn the terms of your loans now—not the month you graduate. Know your interest rates, grace periods, and payment options.

Pro Tip: Try to pay off interest while in school if you can—it helps reduce your loan balance after graduation.

6. Learn to Cook (Yes, Really)

Meal plans and fast food are convenient, but cooking meals is one of the easiest ways to save money. Plus, it's healthier and can even become a fun hobby.

7. Say No to FOMO Spending

Refusing a night out, a pricey concert, or a $6 coffee is okay. Not every experience needs to cost money. Learn to enjoy low-cost or free events—your future self will thank you.

Need school financing? Get a student loan with TENCU

Money management in college doesn't have to be intimidating. With a few smart habits and a little awareness, you can enjoy your college years without stressing about your bank balance. And the best part? These habits will follow you long after you cross that graduation stage.