When I was in college, I had a bit of a spending problem. I loved to buy new clothes, go out to eat and go to concerts.
Even though I tried to budget, I always wound up overspending.
The one financial rule I did follow? I always had a small emergency fund, with at least $100 in it. That emergency fund kept me from doing any drastic when I needed money and didn’t want to ask my parents for it.
Learn what an emergency fund is and how to build one in college.
How Much to Save
A basic college emergency fund should have at least $100 in it. That can cover small expenses like a parking ticket, a trip to the doctor’s office or a week’s worth of groceries if your student loan deposit hits your bank account late.
If you can afford it, try to have closer to $500 in your emergency fund. This may cover a last-minute flight home for a family emergency, replacing something if…