6 Great Financial Habits to Have in College

Brought to You by Our Partners at College Ave

Once you set foot on campus, people are quick to let you know how important it is to develop healthy eating habits and solid study habits. But, what about great financial habits? When it comes to learning to manage your money, we firmly believe: the earlier, the better. Set yourself up for success while still in college and you’ll be on the right track by the time you graduate.

Our partners at College Ave Student Loans shared 6 great financial habits to have in college. Keep reading!


1. Save first, spend later. 

Lots of people (and we mean LOTS) struggle with this, so it’s important to start developing this habit early. It’s tempting to spend your money first and then save whatever is left over, but you’ll end up limiting how much you save this way. Instead, pay your bills first, contribute to your savings, and then use a little on yourself.

In the words of Warren Buffet, “Do not save what is left over after spending, but spend what is left over after saving.” 

2. Understand that just because you can afford it, doesn’t mean you should buy it.

Funnel your money toward occasional, planned, or necessary purchases. For example, if your laptop moves more slowly than a tortoise and you have the money for a new one, this might be a wise purchase to go ahead with. Try to avoid splurging on something new and unnecessary every week just because you feel the urge.

3. Track your spending.

The easiest way to stay on top of your finances? Track where you money is going. Regularly take a look at what you’ve been spending your money on and see where you can make cuts or spend more effectively. You might not realize how much your small, daily purchases add up to.

Financial Habits Image


4. Pay your bills on time, every time.

This sounds obvious, but it’s so important. Why pay late fees or additional interest charges when they can be avoided…just by paying a bill on time? You never know when an unexpected expense may arise, so make sure everything else is taken care of when it’s supposed to be.

5. Save for retirement.

We know, we know – “Retirement?! But I’m only 20 years old!”

The thing is, the earlier you start storing away funds for your future, the better. Plus, the sooner you develop the habit, the easier it is to stick to it.

6. Understand that money doesn’t equal happiness.

This might be the single most significant habit to develop. Yes, it’s important to stay on top of your finances and be responsible with your money. However, don’t tie your happiness or well-being to being rich or spending large amounts.


Success doesn’t happen overnight, so keep working on these habits every day. If you have any of your own healthy financial habits you’d like to share, please post a comment below!


CJ_ Common_Financial_Mistakes




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  1. Brie M says:

    Some financial things I do are 1) paying off my credit card each month (on the due date) to avoid paying any interest and having a balance going into the next month, 2) I keep track of what I’m using my credit card for, like bancing your checkbook, 3) I have the app for my bank downloaded on my phone (convenience) and try to transfer $100 to my savings account every or every other week

  2. TahShea Jones says:

    I started my saving journey back in elementary school. I always had a think for making money just to save it, then I later learned that I was saving money just to spend it. Something that helped me save better and not spend my savings was having more that one savings jar/account. Now I save in a more complexed way, yet a more progressive way. Now I have a savings for my young child, a savings for events/ occasions, and my own savings. This helps me to not dip into money that I may need for unexpected things.

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