This blog post is about money tips for college students.
Being a first-generation college student means you’re not just learning how to succeed in college—you’re figuring out careers, finances, and adulthood all at once. It’s a lot. And unfortunately, most of us didn’t grow up talking about money openly.
In some cultures and families, talking about money can even feel taboo or “disrespectful” but it doesn’t have to be. We all deserve financial education, and it starts with having honest conversations about how to manage your money—especially as a student.
I truly believe every college student should learn basic personal finance, because once you graduate, you’ll need to manage both your time and your money in the real world.
I feel lucky that I cared enough to learn how to manage my finances early. What started as survival turned into a hobby, and eventually, something I feel passionate about sharing. I know it can feel intimidating at first—but don’t worry, I’ll keep it simple and real.
You’re not going to have a million dollars in your bank account after reading this. But you will walk away with practical, beginner-friendly money tips for college students that actually make a difference.
Disclaimer: I’m not a financial advisor, and nothing in this post should be taken as professional financial advice. I’m simply sharing my personal experiences and what I wish someone had taught me about money as a college student. Always do your own research or talk to a licensed financial professional before making decisions about your money.
Money Tip for College Students #1: Budgeting
I get it—budgeting sounds boring. But if you want to take control of your finances and set yourself up for success, learning to track what you spend, save, and invest is essential.
And don’t worry—this isn’t about depriving yourself or never buying that iced coffee again. I’m all for treating yourself once in a while—you only live once, and financial wellness doesn’t mean you can’t enjoy life.
So, What Is Budgeting, Really?
Budgeting doesn’t have to be complicated. At its core, it’s just knowing:
- What’s coming in (your income)
- What’s going out (your expenses)
You don’t have to track every single line item unless you feel like you’re spending more than you should—or want to see where you can cut back.
Budgeting helps you:
- See where your money’s going
- Know if you’re overspending
- Understand what you can save—or even invest
My Experience with Budgeting as a College Student
For me, budgeting actually became a little therapeutic. I used to think I was spending too much, especially since my work-study job paid me just once a month. But once I sat down and plugged my numbers into a budget template, I realized—I was fine. And that gave me peace of mind I didn’t expect.
Budgeting Tools That Help
You can use budgeting apps like:
- YNAB (You Need a Budget) – Great for goal-setting and building habits
- Mint – Simple and free to get started
I created this simple, beginner-friendly budget tracker based on what I actually used in college.
It’s made for students, fully customizable, and works in Google Sheets — so you can budget straight from your laptop or phone.
Remember, you can always make your own budget tracker—and there’s no such thing as a ‘bad’ one. If it works for you, shows you exactly where you stand financially, and helps you hold yourself accountable by filling it out consistently, then it’s doing its job.
Money Tip for College Students #2: Picking the Right Bank Account
As a college student, one of the best financial moves you can make is choosing the right checking and savings accounts—ones that don’t eat into your already-limited funds.
A lot of students (and honestly, even adults) don’t realize that some banks charge monthly maintenance fees or require a direct deposit to avoid getting charged. And that can be a problem when you’re in school and don’t have a steady job yet.
Like… imagine having $50 left in your account, trying to make it last until payday, and then getting hit with a $10 fee just for having an account.
Checking Accounts for College Students
Luckily, some banks offer student-friendly accounts that:
- Don’t require direct deposit
- Don’t charge monthly maintenance fees
- Offer mobile banking + app compatibility
Tip: Look for banks that work well with Venmo, Zelle, and Cash App—those will make your life a lot easier when splitting food or rent with friends.
If you’re not sure where to start, NerdWallet has a reliable list of the best bank accounts for college students. Brows the list and choose what works best for you!
Why You Should Open a High-Yield Savings Account (HYSA)
When it comes to savings, I highly recommend opening a High-Yield Savings Account (HYSA). Unlike a regular savings account, an HYSA earns much more interest, which means your money actually grows—even while it just sits there.
Some benefits:
- Passive growth without needing to invest
- Flexible access to your money
- No account minimums with some banks
Most of the time, you earn 10x more interest than with a traditional savings account
Check out NerdWallet again for the best current HYSA options—HYSA update rates regularly based on the economy.
Quick Tip: HYSA Interest is Taxable
One thing to keep in mind: the interest you earn on a HYSA is considered taxable income, which means you may need to report it when filing taxes. But don’t stress—this usually only becomes significant if you’re saving a lot (which is a good problem to have!).
Bottom line: an HYSA is still way better than keeping your money in a traditional savings account that earns little to no interest.
Money Tip For College Students #3: Mindset
I know as a college student, your time is limited — between classes, assignments, and just trying to survive the chaos of college life, finding time for a job can feel impossible. But who says you have to wait for the “perfect” term or a lighter class load to start earning money?
You can create a side hustle that works around your schedule. I know people who started their hustle in college and are still doing it three years after we graduated — not because they have to, but because they genuinely love it. If you need ideas to get started, check out my blog post on side hustles that are flexible and student-friendly!
Another thing I want to bring up — don’t compare yourself to others, especially when it comes to money. You really don’t know someone’s financial situation unless they tell you — and let’s be honest, most people won’t, because in our society, money talk is taboo.
Just because someone is always dressed in the latest trends or flying out for vacations doesn’t mean they’ve “got it like that.” Maybe their parents help out. Maybe they’re racking up credit card debt. I’ve even seen people complain about being broke while DoorDashing twice a day — with a full meal plan already paid for!
For My First-Gen Fam
As a first-gen college student, I didn’t realize how financially lacking my background was until I started socializing with classmates who had way more. It was humbling — and honestly, kind of a shock. But I don’t see it as a disadvantage. Growing up with less made me creative, resourceful, and gave me the drive to break generational barriers.
I’m proud to be the first in my family to go to college — not just to get a degree, but to create better opportunities, like a career that pays more than minimum wage and gives me the life my family never had.
This post is all about money tips for college students. I’m not a financial advisor, and this isn’t financial advice—just real personal experiences from one college student (now young adult) to another.
For my first-gen folks especially, I get it. A lot of our parents pushed us to go to college (with love), but they didn’t always have the tools or knowledge to teach us the other adult things—like budgeting, saving, credit, and long-term planning—because they didn’t grow up with that information either. That’s what inspired me to write this post and share money tips for college students — in hopes that it helps someone who needs it.
Your financial health is one of those topics society avoids—whether it’s from generational silence, broken education systems, or just not knowing where to start. But I believe financial literacy is one of the most important tools to survive and thrive. That’s why I try to be transparent about what’s worked for me, in hopes it helps someone else feel more confident and in control.
If you found this post about money tips for college students helpful, make sure to check out my other blog posts about money—they’re all written with college students and first-gen readers in mind.