By Nickie Pulsone Courier Staff
Dashing through the mall with a huge credit card debt this holiday season? It doesn’t have to be that way this year Centennial students! We spoke to Lise Andreana, a Certified Financial Planner (CFP), about what students can do to not only financially survive this holiday season, but come back to school in January with some extra change. She recently wrote “No more mac ‘n’ cheese,” a book about how 20-somethings can manage their money and be financially independent. Take the advice of Andreana and watch your bank account soar.
1) Timing is everything
A large issue students face when on holidays is spending their time amidst all those wonderful people in their lives. You have no money and friends beg you to go shopping or invite you to the pub last minute. “Structure their time in advance,” Andreana said. Before settling into your deserved time off, you can set aside time to go skating or watch a cozy at home movie with them.
Dividing your saving and spending money will really help, when shopping for those holiday gifts. Andreana says looking online helps to get an idea of what you will dish out. “Spend time before hitting stores doing price shopping comparisons and making a list. That way you can differentiate from your needs and wants,” Andreana said. Always be aware of the amount you are spending!
3) Get crafty
You aren’t making those serious six figure paycheques- yet. Gifts can cost a mother-lode and sometimes the best gifts require a little creativity. “Homemade gifts, like making a cookie mix and placing it in a jar” Andreana said. These gifts show your loved ones how much you truly care because you made it especially for them.
Start thinking of paying off that student loan…now. “Students don’t think of long term, you won’t have more time when you get a career,” Andreana said . She advises that the sooner you create a plan to pay off that debt, the better.