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Oklahoma State University
Student Affairs


Making Your Money Work for You

Wednesday, November 29, 2017

Pistol Pete stares you down.


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How do you budget?

Do you have a high-yield savings account?

Do you even have a savings account?

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If you don’t have the answers to these, you’re in the majority of college students. The good news is there are ways to manage your money that don’t require a business degree.

As always, we’re here to help you with them. Listen up, y’all.


The simplest solution is usually the best solution.

Stop spending money on things you don’t need. Instead of buying ANOTHER pair of shoes, make a pair you already have work for the occasion or borrow from a friend.

Mr Bean makes pouty face

A good trick to keep yourself from doing this is to budget. It doesn’t have to be rocket science.

Just lay out the money you think you’ll be making in the positives column and then fixed expenses in the negatives column. HINT: These are things like rent, groceries and car insurance.

Whatever you have left, use for fun things or better yet, put it in savings. Just don’t #treatyoself too hard and end up with more negative than positive.

Need some extra help? Here are some templates for budgeting.


Save your pennies.

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You are more likely to spend money when it’s an “abstract” concept, so putting your money in an account and swiping a card is a lot easier than handing someone cold, hard cash.

Keep some ca$h on you so you can’t spend it all in one place.

PRO TIP: Saving change can actually help a ton. Just put a bowl by your front door and rack it up when you come home. When it’s full, bring your change to the bank or an automatic teller and make 💰💰💰.

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Don’t borrow money from yourself.

If you don’t know what we mean, this might not be an issue for you yet. #GoYou

FYI, borrowing from your savings account to use for things you want to buy right now is only going to cause you pain in the future. When you put something in savings, LEAVE IT THERE.

Also, choose a high-yield savings account for a higher interest rate. The pennies really add up.


Don’t take a holiday from being smart.

You get a homemade gift, you get a homemade gift, you get a homemade gift...

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We’ve got news for you. Your mom is going to love you even if you don’t buy her that really expensive jewelry.

Instead, pay for an experience such as a sleigh ride or a night out at the movies with some popcorn. #yum

For holiday parties, White Elephant is a blessing in itself. Everyone draws one name and buys for that person. Win-win: Everyone gets a present, and you don’t have to smash your metaphorical piggy bank.

Check back next week as we get ready for finals. Have a great week, Cowboys!

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