MONEY MATTERS

No matter how well you budget and despite

your best efforts, you've probably found

yourself a little short on cash. Perhaps you

just had to go see a concert on campus or

bought a few too many pizzas. Regardless of

the situation, managing money is just as

important as managing time, and you have to

find a balance between what you want and

what you need.

Easy Come, Easy Go

Expenses can be divided into two categories:

Sometimes it’s okay to get F’s…

Fixed expenses

Expenses that do not change and must be

paid

o Tuition

o Phone bill

o Car insurance

o Other?

Flexible expenses

Costs that can be manipulated or

eliminated by you

o Coffee

o Late night take out

o Shopping

o Entertainment

Budget sample sheet

http://www.osfa.uiuc.edu/forms/Monthly

BudgetWrksht.pdf

http://financialplan.about.com/od/money

andcollegestudents/l/blcollbudget.htm

http://www.education.com/reference/arti

cle/college-budget-worksheet/

There’s a method to money madness

College Budget Worksheet

Amount Budgeted Actual amount

Income

(list forms of income below)

Expenses

Loans payments

Book and Supplies

Car insurance

Gas

Food

Necessities (hygiene products, medication

etc.)

Entertainment (Restaurants, shopping, concerts etc.)

Other Items :

For more money managing tips:

http://www.bankrate.com/brm/news/special/20010425b.asp

http://financialplan.about.com/

http://money.msn.com/

Control your credit

Don’t let it control you

Credit cards help teach financial independence and

can be an excellent security blanket when those

emergency situations arise. However, many students

fall into the credit card trap early in their college

careers.

Before whipping out the credit card, stop & think,

is this really an emergency?

Don’t charge anything you can’t pay off right away.

If you have a real emergency, allow yourself three

months to repay the charge in full.

So, STOP & THINK before you swipe!

Keeping track of your credit

Free Credit Report https://www.annualcreditreport.com

Understand your credit http://www.smartmoney.com/borrow/debt-strategies/

Building Savings

It doesn’t how small the amount you start

saving. Every penny counts!

Tips:

Include your savings in your budget

Have it automatically taken out of your

paycheck

Put any loose change from the day in a

jar and see how much you have saved at

the end of the month

Set a savings goal

Financing your future

.

URI has options in all categories of financial aid, but the first step is to renew your FAFSA

(Free Application for Federal Student Aid) early in January or February. (You must submit an

updated FAFSA to be eligible for aid the following year.) Once we have your FAFSA, we

can build a package for you that may include:

Federal Pell Grants and Federal Supplemental Educational Opportunity Grants, as well as

special University Grants direct from URI. Get more details.

Scholarships offered by organizations, corporations and alumni, as well as state scholarship

and grant programs. Below are some scholarship search engines.

FastWeb College Answer

FedMoney.org FinAid.org

MACH 25 Database Scholarships.com

.

URI 101: MONEY MATTERS

However, pay close attention to potential scholarship scams, many of which ask you to provide

a fee upfront. These sites will keep you in the know:

The Student Guide

Federal Trade Commission for the Consumer

Federal Student Aid

Loans are available from both private and government sources.

Student employment is also an option through the Enrollment Services Office at URI, which

offers a referral and placement service to students seeking employment. College Work Study

includes federal and state-funded employment programs that provide part-time jobs to

undergraduate students who show financial need. Jobs are arranged through the university.

Check out additional information on College Work Study and other employment opportunities

at URI.