College is more than just a stepping stone to your career; it’s a transformative period that sets the stage for your future. While you’re likely aware of the financial commitment involved, what’s equally crucial is how you navigate your finances, academic choices, and personal growth during these years. The following college tips are a compilation of lessons I wish I’d known before starting college. They cover everything from building a solid financial foundation to strategic career planning and personal development, all aimed at helping you make smart decisions and enjoy a fulfilling college journey that sets you up for lasting success.
Financial Foundations
Building a strong financial foundation in college is key to securing your future. The habits you develop now will not only help you manage the cost of attendance but will also set you up for long-term financial success. From smart saving strategies to credit building, here are essential college tips to ensure you’re making the most of your money during these crucial years:
1. Invest Early
Kickstart your financial journey by investing in your IRA as early as possible. You can begin investing in a Roth IRA as soon as you have earned income. You can contribute up to $7,000 annually or the amount of your earned income, whichever is less. Set up a weekly auto-withdrawal of $20 or more—what seems small now will grow into something significant over time. As your income rises, gradually increase your contributions until you’re maxing out your Roth IRA. Make sure you invest in low-cost broad-based index funds!
2. Build Your Credit History
Start building your credit history by getting a credit card like Chase Freedom Flex and/or Freedom Unlimited early on. These cards are easy to qualify for, offer great rewards, and help you establish a strong credit history while earning points. As your credit improves, consider adding the Chase Sapphire Preferred or Reserve to your lineup for even more benefits. If you can’t qualify for the Chase cards initially, the Discover IT Student card is a great alternative. Later, you can transition to the Chase trifecta as your credit history strengthens.
These cards all work together well. The Chase Freedom Unlimited is your “catch-all” card that earns 1.5x points everywhere. The Chase Freedom Flex brings a 5x rotating bonus category that can be used to boost your points-earning potential. And last, but certainly not least, the Chase Sapphire Preferred/Reserve makes all the points you earn go further as well and brings premium perks.
This combination is a powerful strategy to maximize Chase Ultimate Rewards and dive into the world of credit card rewards and travel hacking, even while you’re still in college.
*IMPORTANT*
Pay off your credit card statement in full and on time every month.
3. Pay Yourself First, ALWAYS
Following the wisdom from George S. Clason’s The Richest Man in Babylon, commit to saving 10% of every dollar you earn in an account dedicated to your first real estate purchase (ideally a house hack).
*Bonus Tip*
Automate this process so the money is saved before it even hits your bank account. It’s much easier psychologically to save money you never “see.” Apply the same approach to your 401(k) contributions when you start your first full-time job—set it to 10% or more before your first paycheck and you will never even miss it.
4. Invest in Your “Worth it” Moments
Not every purchase needs to be financially optimal—think concerts, travel, or other experiences that enrich your life. It’s okay to spend on what truly matters to you because you’re not just optimizing finances, you’re investing in a life filled with unforgettable moments. Don’t miss out on once-in-a-lifetime opportunities to invest in a life you don’t get to live in yet.
5. Have a Fun Fund
Building off the idea of “worth it” items, setting aside money for fun ensures that enjoying life’s pleasures doesn’t come with guilt. By budgeting for fun, you create a dedicated stash of cash meant explicitly for enjoyment—so go ahead, spend it guilt-free.
6. Get Paid to Study
One of the best life hacks I discovered in college was finding a job that allows you to get paid while studying. Look for roles that offer downtime, like being an apartment receptionist, a library desk attendant, or even a computer lab monitor. These jobs often provide you with the perfect environment to catch up on reading or work on assignments, all while earning money. It’s a win-win—your pockets grow while you stay on top of your studies.
7. Scholarships, Scholarships, Scholarships
Any soon-to-be college student knows how much a good education costs (hint, it’s A LOT). Despite the hefty cost, an estimated $100 million in scholarships goes unclaimed and $2 billion in student grants goes unclaimed each year. That’s a goldmine just waiting to be tapped into.
To make the most of these opportunities, invest time in applying for scholarships from your school and outside sources. Many of them have similar questions, so streamline your application process by preparing a set of versatile responses. Tailor these pre-written answers to fit each specific application, and you’ll be well on your way to securing some of that unclaimed cash.
Academic and Career Success
While your financial habits are crucial, your academic performance and career preparation are equally important in shaping your future. The choices you make in these areas can open doors to opportunities that will impact your life long after graduation. Here’s how to make the most of your time in college and set yourself up for a successful career:
8. Choose Your Degree Wisely
When choosing your degree, aim for one that aligns with your career goals and financial plans. Degrees in STEM, Law, Medicine, and Business/Finance often offer robust career prospects and a solid return on investment (ROI). Outside of these fields, many valuable skills can be acquired without racking up significant debt.
Choose a degree that you enjoy and that provides a good ROI. It doesn’t need to be your life’s passion; instead, focus on how it fits into your life and goals. Remember, we don’t live to work, we work to live.
9. College Credits vs. AP Tests in High School
Coming to college with some classes completed from your time in high school is invaluable. In my experience, college credits earned in high school offer far more value than AP tests. Many community colleges partner with larger universities, ensuring that the courses you take will transfer as long as you pass. On the other hand, AP credits require you to take a rigorous course, pass a challenging test, and hope your desired university accepts your score. College classes offer a more straightforward path to earning credits that will count toward your degree. However, if there are no other options, AP is still a decent way to earn college credit.
10. Learn to Study
Many students who excelled in high school often struggle in college because they were never truly challenged by their high school coursework and never developed effective study habits. College demands a higher level of discipline and understanding, so it’s crucial to learn how you learn best before you arrive. Take the time to explore different study methods and find what works for you—whether it’s active recall, spaced repetition, or group study sessions. Developing strong study skills now will be imperative to your success in your academic pursuits at college.
11. Intern Early and Often
Begin gaining work experience through internships as soon as possible. Internships not only enhance your resume but also give you valuable insights into different career paths, helping you determine what direction you want to take. The earlier you start, the more opportunities you’ll have to explore various roles and industries, making you more competitive when it’s time to enter the job market.
12. Optimize Your Class Schedule
Plan your classes in a way that boosts your productivity. Consider stacking them back-to-back to create larger blocks of free time, or space them out if you need breaks to stay focused. Finding the right balance will help you make the most of your day and keep your energy levels steady.
13. Learn to Manage Your Time
College often marks the first time in your life that you have full control over your time. Developing strong time management skills is crucial not just for academic success, but for life beyond college. Mastering this skill will help you balance coursework, extracurriculars, and personal time, setting you up for a well-rounded and productive life.
14. Utilize Campus Resources
College campuses are packed with valuable resources that often go underutilized. Take the time to explore what your school offers and make the most of it. From tutoring centers to career services and mental health support, there’s a wealth of tools available to help you succeed academically, professionally, and personally. Don’t let these opportunities pass you by—use them to your full advantage.
15. Get to Know Your Professors
Building strong relationships with your professors can open doors to mentorship, research opportunities, and compelling letters of recommendation. Don’t hesitate to attend office hours—it is a great way to get to know your professors AND helps you grasp the material on a deeper level. Engaging with them early on can enrich your academic experience and pave the way for future opportunities.
Networking and Social Engagement
College isn’t just about what happens in the classroom; it’s also a prime time to build meaningful connections. Networking and engaging in social activities can greatly enhance your college experience and open up opportunities that you won’t find on a syllabus. Here’s how to maximize these opportunities and build relationships in your professional and personal life:
16. Engage and Excel
College is a fresh new world full of opportunities waiting for you. Dive into campus activities or organizations, find your niche, and excel. Your involvement and achievements outside the classroom can be more impactful than your GPA when it comes to job interviews. Being actively engaged on campus demonstrates leadership, commitment, and passion—qualities that stand out to potential employers.
17. Be the Social Catalyst
At times, college can feel isolating, and trust me when I say almost everyone else is missing home just as much as you are. Take the initiative to bring people together and create connections by planning events. Being the one who bridges the gaps will not only enrich your college life but also help others feel more at home.
18. Network, Network, Network
College is your chance to explore and shape your career path, beyond what you learn in the classroom. Engage with industry professionals at career fairs and networking events. Reach out for coffee or Zoom meetings, and guide your own career journey through the lens of their career experiences—what worked, what didn’t, and their best advice. Remember, your goal is to gain insight and knowledge, not just to land a job. Approach these conversations with genuine curiosity and interest. In the future, when opportunities arise, they may recall that impressive student who took the initiative to learn and connect.
Personal Growth and Well-Being
While academics and networking are essential, taking care of your personal growth and well-being is more important. College is a time to explore who you are, develop new habits, and set the stage for a balanced and fulfilling life. Here are some ways to invest in yourself and ensure that you’re not just surviving, but thriving during these transformative years:
19. Invest in Your Health
Eat clean, stay hydrated, and maintain an active lifestyle. Taking care of your physical and mental health is crucial for long-term success. The healthier you are, the better equipped you’ll be to weather any storm college, or life, throws at you.
20. Never Stop Learning
Learn both inside the classroom and out. Continuous learning broadens your horizons and lets you see new opportunities. Dive into podcasts, books, and other educational resources to expand the lens through which you view the world. Lifelong learning will benefit you in the long run and keep your options open as you navigate through life.
21. Capture Your Moments
Embrace college – have fun, try new things, take risks, and most importantly, take plenty of photos and videos to document these experiences. These memories will be priceless, and you’ll be glad you preserved them. Plus, your friends will appreciate you for capturing those unforgettable moments.
22. Keep Perspective
Don’t stress too much, life is long, and college is just the beginning. You have plenty of time to take risks, make mistakes, learn, and bounce back stronger.
23. Call Your Parents
By the time you leave for college, you’ve likely spent about 90% of the time you’ll ever spend with them. Call home, share your new experiences, and cherish every opportunity to connect—those moments are more valuable than you might realize.
24. Cultivate a Growth Mindset
Embrace challenges, learn from criticism, and view effort as a journey to mastery. A growth mindset will help you overcome obstacles and achieve your goals in college and beyond.
25. Dream it and Make it Happen
Envision the life you want during college and beyond—set dreams and goals that inspire you. Then, take consistent action to bring those dreams to life. They may seem distant now, but small, steady steps can lead to achievements beyond what you ever imagined. Remember, life doesn’t just happen to you, it flows from you. With belief in yourself and determined action, you have the power to achieve anything.
Conclusion
College is far more than just another classroom; it’s truly a transformative experience. By embracing these 25 college tips you’re not just setting yourself up for academic success, but laying the foundation for a fulfilling and prosperous future. Remember, college is just a chapter in your book of life. With strategic planning and a growth mindset, your story will be one of discovery, achievement, and increasing freedom. Stay curious, remain adaptable, and never stop dreaming. Your college experience is what you make of it, so start today by choosing one tip to implement immediately. Here’s to a future-proof you! Until next time, keep learning, growing, and chasing “Freedom by the Day!”