10 Financial Management Tools for Savvy College Students

It’s no secret that college is expensive. It helps tremendously when students have financial management plans, since they won’t feel overwhelmed by college loans and the stress of having to deal with everyday expenses without a blueprint. Learning how to manage finances is an immense help to students. Unfortunately, learning these skills proves to be harder than one would expect.

Luckily for college students (and parents alike) there are many tools available to students to aid them in managing their finances. Below, we have gathered what we feel are some of the best sites and resources to help students manage finances.

1. Mint: We often think we are doing what is best with our money. But, have you ever wished you could go back and check what your spending habits have been, and how to improve them? If your answer is “yes,” then Mint is the perfect resource for you. This online resource tracks all spending and categorizes it, so you can see what your spending habits are, without having to keep cluttered receipts around.
2. MyMoney: The U.S. Government offers an online resource to help offer financial education to the public. Making smart choices with money has never been easier, thanks to the aid of this resource. Offering advice on spending, saving, and protecting money, as well as money quizzes, this resource aims to help maximize any and all financial decisions.
3. Federal Student Aid: This website is one that offers students a tool for every step of the financial aid process. From preparing for college, all the way up to how to manage the money, the website offers students a valuable resource. Students can find information about the types of aid available and how to file applications, students are guided in every step of the financial aid process.
4. Jump$tart: Promoting financial literacy is the goal of this website. Preparing the next generation with information and skills in financial management is of the utmost importance to these financial education stakeholders. Together, they offer a plethora of opportunities to educate students and youth on money management.
5. Money 101: Created by the Colorado Department of Higher Education, this site provides students with free financial tools to help make the money management process less stressful. Offering tools such as budgeting worksheets, calculators, and information videos, this site seeks to aid students in developing long-term skills in financial education. The site is best suited for not only students, but also their parents, as well as school organizations.
6. Student Loan Calculator: Sometimes, taking out a loan can be stressful for students, because the daunting thought of “now I have to pay all this money back,” looms overhead. This online calculator offers students, and recent graduates, a way to figure out what their monthly payment will be towards their college student loans. This resource can also be used for students just starting out in college, and who want to know if their loans will be payable easily, or if they will be problematic.
7. Budget Calculator: Offering students a way to effectively spend their income, this budget calculator allows students to visually see what they income amount is, and what it is spent on. This resource will aid students in paying for their most important resources, and to see what they can and cannot afford.
8. Power Wallet: A powerful online money management resource, Power Wallet offers students the opportunity to not only monitor spending, but also to setup personal calendars. Monitoring cash flow, and checking all budgets are just some of the perks of this helpful tool. This also offers students the opportunity to receive alters when payments are due.
9. InEx: Graphs and charts are part of the technique this recourse utilizes to keep students on track with their spending habits. Offering a section for financial goals and personal calendars for recurring events, this resource help keep students on track, as far as their finances are concerned.
10. ReadyForZero: This is an online tool for students who want to visually see a plan to pay off the debt they incur from their student loans. This resource offers a personalized plan that is tailored to the income level of students and available funds. Also, having this tool available on a mobile device makes saving money even easier!

Taking out student loans, managing day-to-day college expenses, and being prepared to make payments on loans after college is stressful. Utilizing these tools is one way for students to stay on top of their financial challenges!