Reading Time: 5 minutes Want to buy a car? Lease an apartment? Get a mortgage for a house one day? First you’ll need good credit. In this article, we cover 6 key ways to start building your credit score right now.

Reading Time: 11 minutes We’re all pretty familiar with credit cards (at least, in theory), but what about credit scores, credit reports, and what it means to be deemed “creditworthy”?

1. Buying new books is a rookie move

Who knew books could be so expensive? Oh, wait—we did. But that doesn’t mean you have to buy into the idea that new is better. In most cases, new is unnecessary. Go for used or even rentals, which you can get from your library for free or online at a lower cost. And don’t count out e-books. These are often more affordable and have the added bonus of being environmentally friendly. Just make sure the e-book includes all the pieces you’ll need, such as a digital access code for supplemental online content.

Before you shell out $500 for a new bio book, check out the best sites for book deals, recommended by students like you:

• Chegg
• Campus Book Rentals
• Textbooks.com

2. Decorating your space is an interpretive art

That picturesque collection of extra-long sheets and coordinating lampshades is lying to you. You can get just as much use out of a Craigslist desk and Grandma’s throw pillows—and you might even get more friends because of it. The point here is that your ideal room or apartment décor might be better suited for your first paycheck after graduation. That doesn’t mean you can’t make your space feel like home; you just need to be a little flexible doing it.

Shop around on sites like Craigslist and OfferUp (but make sure you’re putting safety before a good deal here because this can get weird—try to meet in a neutral, public location and take a roommate, friend, or bodyguard with you). And don’t discount Facebook Marketplace or other social media groups where students can buy, sell, and trade old stuff. Your school might have one just for students looking for the futon of their dreams. Check it out.

“My first couch was threadbare and hideous, but it was free, and a neutral slipcover made it work in my apartment.”
—Emily, fourth-year undergraduate, University of Windsor, Canada

3. Stick it out for sales

If you can swing it, hold off on buying supplies—sans the essentials, of course—for the first few weeks of the semester. A lot of stores put office, desk, and room supplies on sale after the big rush, and that means you can get a lot more goods for your green. So treat yourself to that extra-plush body pillow; your patience paid off.

4. Move beyond the microwave—or learn to cook with it

Those double XL coffees from the café add up fast, and those meal plans can be expensive. We’re talking $1,000 to $3,500 per semester expensive depending on your school, according to a 2015 NBC News report. Ouch. Many schools offer a range of meal plan options, and choosing a smaller one might save you some money. You still have to eat, though, so shrinking your meal plan goes along with expanding your kitchen skills.

Before we lose you completely, this is an awesome time in your life to learn to make some basics, like pasta, tacos, roasted vegetables, and killer quiches. You don’t even need to make peace with the oven to get going here. Check out our article on five recipes you can make in a microwave to get started.

• Microwave-friendly meals
• More easy eats for your busy life

5. Where you live matters

First year on campus? You’re probably hanging out with some roommates in a res hall. But that might not be the most financially savvy option for all four years. “Depending on where you go to school, living off campus with a few roommates could be less expensive than living in a [residence hall]. At other campuses, [residence halls] are the best value,” says Amy Marty Conrad, director of the CashCourse program, part of the National Endowment for Financial Education that helps students plan how to pay for college.

Bottom line: Do your research. The default option isn’t always the most affordable option, and you owe it to yourself to figure that out. Check with your school too—some colleges require students to live on campus for a certain amount of time. And don’t forget about the live-at-home option. It may not be your fav now, but the financial freedom you’ll have after graduation could get you closer to the life you want. It’s all about those goals.

“Bulletin boards on the school campus always offer different options for housing like renting a room, needing a roommate, [and] cheaper apartments or studios.”
—Alexander, fourth-year undergraduate, College of the Desert, California

6. Your student ID is a magical, money-saving thing

Your student ID is so much more than a close-up of your face on your first day on campus. It’s essentially gold—and it can save you some too. Businesses want your business any way they can get it, and that usually means that they’ll cut you some slack in your student years. But you have to know what it gets you, and you have to be willing to ask. Some retailers might not advertise discounts, and others might only grant them to the brave few willing to ask the question. It’s worth it to do so, even if they say no.

And remember, this applies to way more than just clothes and food. Car insurance, flights back home, and an evening at the museum are all things you can save on with proof of your student status. Use it before you graduate and take a moment of silence for all the money you save. Or don’t.

What can a student discount do for you? Check out some of the deals here.

Bonus tip: Build (and stick to) a budget

While we’re here, be sure you’re sticking to your budget by having one in the first place. It’s OK if you’re new to tracking your finances; in fact, that’s the best place to start. Try a budgeting app like Mint and see where you can make adjustments. Remember, small tweaks can mean big savings. You got this.

• Budget basics that work
• Interactive modules on money stuff: FoolProof Financial Education Systems

Doing stuff is better than buying stuff

Ultimately, we all get to choose how we spend our disposable income, even if there’s not much of it. And it’s our experiences, not our possessions, that are our main source of happiness and our sense of who we are, research shows. “Nobody would say that your identity is the kind of car you drive,” says Dr. Sonja Lyubomirsky, a social psychologist at the University of California, Riverside, and author of The Myths of Happiness (Penguin, 2013). “Who you are as a person is more about all the experiences you’ve had throughout your life.” In a 2009 study, students reported that experiences made them feel more alive than possessions did, according to the Journal of Positive Psychology.

OK, we get it: The thrill of the climbing wall trumps the new jeans. Being suspended in the air with the adrenaline junkies is what will shape you, help you connect with others, and leave you with stories worth sharing. And that’s just the beginning. For nine ways to spend your money (and your time) on what will expand your identity and happiness, instead of your clutter, read on.[/vc_column_text][vc_tta_accordion style=”modern” shape=”square” color=”mulled-wine” c_icon=”chevron” active_section=”0″ collapsible_all=”true”][vc_tta_section title=”How to up your happy” tab_id=”1508974305161-741a462d-b016″][vc_column_text]More good news: Happiness is accessible, and the college years are the perfect time to go get it.

How? By gathering experiences, not stuff. Why? A bunch of reasons:

• We are our experiences

“Who you are is the sum of your experiences but not the sum of your things,” says Dr. Sonja Lyubomirsky, a social psychologist at the University of California, Riverside.

• We value our experiences

“Even when an experience goes wrong, we appreciate it. “People tend to focus on what they learned or how they grew as a result of something negative,” says Dr. Lyubomirsky.

• Experiences have staying power

“Even though [our things] last physically, it’s our experiences that live on in the identity we form and the connections we make,” says Dr. Thomas Gilovich, happiness researcher and professor of psychology at Cornell University, New York.

• We don’t harshly compare experiences

A 2010 analysis of eight studies confirmed that we tend to ruminate on and compare the stuff we buy more than we doubt the value of our experiences (Journal of Personality and Social Psychology).

• Experiences help us relate

Experiences often strengthen our relationships. “The social aspect is really one of the keys to happiness. Shared experiences can do a lot, and people can anticipate and reminisce about them together,” says Dr. Lyubomirsky.

9 ways to stop buying stuff you don’t need

1. Choose experiences that contribute to your awesomeness

Trying something new, pushing yourself, developing a skill—these experiences are usually worth the investment. Your everyday blah has less to give you, experts say. “Think about the experience of watching TV and having an identity of ‘I’m a TV watcher.’ How gratifying is that? Not terribly,” says Dr. Thomas Gilovich, happiness researcher and professor of psychology at Cornell University, New York. “But if you’re out in the wilderness camping with friends and have the identity of ‘I’m adventurous,’ that’s likely to be very gratifying.”

2. Look for ways to connect IRL

Start a hiking group that meets on weekends, or join a tennis league. If you’re a big reader, try a book club to add the social element. Sometimes, we need to purchase items in order to access formative experiences. Those hiking boots or the latest J. K. Rowling novel will set you up for self-discovery and maybe new friends.

3. Cherish the good times

This is totally free and can up your happy. Record your thoughts, insights, memories, and stories in a place you can revisit—like a journal, blog, or note-keeping app. Print some of your photos (yes, you can still do that) and keep them visible so you recall those good times.

4. Value experiences that don’t cost a whole lot

Good news: “A lot of experiences that provide happiness aren’t very expensive,” says Dr. Gilovich.

• Look within and beyond your campus walls: Find parks, trails, beaches, pools, PokéStops, and so on. “Take advantage of these settings for a gratifying break from the grind that school can be,” says Dr. Gilovich.

• Can’t go rock-climbing in the Peruvian mountains? Reading about an experience looks much the same on brain scans as actually having that experience, according to a 2011 study in the Annual Review of Psychology. Bonus points: Reading builds our empathy (enhancing our relationships) and emotional health, and puts us into a relaxed, meditative state, studies show.

5. Before you swipe, ask yourself three questions

• Shape: How likely is it that this purchase will shape who I am, help me grow and learn, or help me see myself in a positive way?
• Connect: How likely is it that this purchase will expand my crew or strengthen my relationships?
• Share: How likely is it that I will remember and tell epic stories about this purchase?

6. Are you pumped up, bummed out, intoxicated, cranky, or bored?

Then be wary of going near your Amazon wishlist—you’re more likely to make impulsive purchases and experience buyer’s remorse, according to a 2014 survey (CreditCards.com). Shopping is best done with a calm mind.

7. Consider the downsides of stuff

• Possessions cost time, as in the time you had to work to make the money to pay for them.
• Stuff can happen to stuff: iPhones fall in toilets, jeans rip in unfortunate places, and flat screens mysteriously go missing. Which is all pretty stressful.
• The pleasure of new items fades quickly, according to a 2009 study in the Journal of Positive Psychology.
• Possessions may become associated with regret, negative comparisons, and envy.
• Possessions may become clutter. In a study involving 60 women, clutter was associated with higher levels of cortisol, a stress hormone, and a depressed mood, according to the Journal of Personality and Social Psychology (2010).

8. Do your research before you buy

OK, fine, you do need some things, like pants. When students researched a product before buying, they experienced less buyer’s remorse, in a study by a researcher at Kansas State University (2011).

9. Declutter

The pleasure of clean, organized space may make it easier to stop buying things you don’t need. Marie Kondo, author of the bestselling book, The Life-Changing Magic of Tidying Up (Ten Speed Press, 2014), recommends pulling out everything you own and asking yourself, “Does it spark joy?” Yes? Keep. No? Donate, recycle, or toss.[/vc_column_text][vc_tta_accordion shape=”square” color=”black” c_icon=”chevron” active_section=”0″ collapsible_all=”true”][vc_tta_section title=”Why happy matters” tab_id=”1508973412401-dc7774db-f2f4″][vc_column_text]So we can’t buy happiness—fine. But let’s not pretend money is irrelevant. Really, we’re talking about having a good life in ways you can sustain. And that’s important, because expanding your happy expands a whole lot of other things too, like your resilience—your ability to deal with the not-so-good stuff.

Research suggests that “in-the-moment positive emotions” (such as affection, curiosity, compassion, love, and amusement) build our coping resources—our ability to handle challenges and stress. This in turn gives us access to a more satisfying life.

“Happier people are healthier, more productive, more creative, and more charitable. They have more successful relationships and make more money. The evidence is pretty strong that good things come to those who are happier.”
—Dr. Sonja Lyubomirsky, social psychologist, University of California, Riverside, and author of The Myths of Happiness (Penguin, 2013)[/vc_column_text][/vc_tta_section][/vc_tta_accordion][vc_column_text]

“There are so many other things I could spend my hard-earned money on. But will I remember the feel of a shiny new car, or the tears of joy as I paraglided through the Swiss Alps? I spend my money on experiences that make me feel alive.”
—Kira Collings, second-year dietetics student, Utah State University

Follow us on Instagram, and don’t forget to use the hashtag #happyspending

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Having a hard time dressing without stressing about debt? Four inspired undergrads demo how it’s done.

Bianca Cooper

Fourth-year undergraduate majoring in environmental biology at Towson University in Baltimore, Maryland

“I love this outfit because I’ve put my twist on almost everything. I distressed the pants with a cheese grater and used a seam ripper to make the holes. The patterned tights are for the peekaboo effect. The tank top was originally a onesie; I cut off the snaps and sewed the hem. I took in the waist of the shirt and cut off the sleeves. I love feeling feminine while also being comfortable and realistic. I feel better about the day when I’m excited about my outfit. Shoes are the one thing I spend money on. I’ve had these for more than eight years.”

Collared shirt: $9, The Gap men’s sale rack
Sweater: $15, The Gap
Tank top: $10, Urban Outfitters, sale rack
Tights: $5, Marshalls
White pants: $20
Frye boots: $200

Clothes spending per semester: $50–75

Jaysel Shah

Fourth-year undergraduate majoring in biology at Temple University in Philadelphia, Pennsylvania

“This is the first blazer I ever bought, and it was to wear on my 21st birthday. I had a good time that night because I knew I was stylish and felt good about myself. I was one of the best dressed people out that night, but I didn’t spend a fortune.”

Blazer: $9, Everbuying.net
Shirt: $5, Champs Sports
Jeans: $17, Walmart

Clothes spending per semester:  $250–300

Connie Moreland

Fourth-year undergraduate majoring in economics at Eastern Kentucky University in Richmond

“In Korea it’s trendy to wear any item of clothing with English written on it. The funny thing is that some of the English words and sentences don’t make any sense! I went from Korea to Chile, where I was honked and whistled at on the street for wearing this tunic. They’re not used to seeing women wear short dresses.”

Tunic: $30, Street shop in Seoul where she studied abroad
Shorts: $25, H&M
Tights: $5, WalMart

Clothes spending per semester: $300

Betty Yu

Third-year undergraduate majoring in biochemistry & molecular biology at Lewis & Clark College, Portland, Oregon

“I would never have gone into those thrift stores that hipsters always rave about. But I fell in love with a morbidly overpriced velvet skirt at Urban Outfitters and thought I might be able to find something similar. After visiting two thrift stores I found something just like what I’d seen, and bought several bags of other cool items for the same price I would have spent on one skirt.”

Shawl: $5, World Market
Velvet skirt: $8, Portland thrift store
Socks: $6, Sock Dreams
Shoes: $28, Target

Clothes spending per semester: $150

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Where the money goes is a brutal mystery—unless we plan and track our spending. In a recent CampusWell survey, 91 percent of students thought keeping a budget would help them better manage their personal finances. These six concepts are the key to making sure you’ve got the dough for pizza night, spring break, or grad school. To put them into practice, use a digital tool like Mint.com or your bank or credit union app.

EXPERTS

• BRYAN ASHTON, BSBA, assistant director, Student Life Student Wellness Center, The Ohio State University, Columbus
• LARRY PIKE, CFA, financial planner and principal of Client Priority Financial Advisors LLC, Needham, Massachusetts

1. Know the importance of a spending plan

“The biggest challenge to budgeting is the idea that because students have limited resources, they don’t need to take steps to take control of their finances. They do.” —BA

2. Know your current spending

“The most important step is to understand where your money really is going. If you can’t get a handle on your spending, it will be difficult to take control and make changes.” —LP

3. Know which choices you want to prioritize

“Some choices or goals aren’t strictly financial but have significant financial implications. How much should you allocate each month to meet these goals?” —BA

Examples of spending choices or goals

Maybe your short-term goal is to have enough money for late-night pizza tomorrow. What could you do throughout the month that will help ensure that you get your pizza splurge and make it to February without going into debt?

4. Know your wants vs. your needs

“The key is to be realistic about what you need versus what you want. The greatest value in making a budget is seeing where your actual dollars have gone. Then we realize how much of our spending is discretionary.” —LP

5. Know the cost of convenience

“Eating out is more expensive than making your own meals, and buying coffee is more expensive than brewing your own. This is where any student has the ability to really affect their budget.” —BA

6. Know how to use your bank accounts to your advantage

Use your checking account for your current costs. Keep larger sums in your savings account for future expenses. This way, you won’t spend your tuition money on pizza.

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The college or university years are typically our first experience of managing (or blowing) adult finances. The responsibility can be empowering, but greater control over our finances calls for conscious planning. In a recent CampusWell survey, 91 percent of student respondents thought keeping a budget would help them better manage their personal finances. But wouldn’t most of us rather drink the latte and eat the pizza than track their prices?

Our spending habits have consequences that go beyond our immediate financial dilemmas (can I afford to go out tonight?) and reverberate through our futures. “You either have enough to pay the rent or you don’t. The payment either arrives on time or it doesn’t,” says Gail Cunningham, chief spokesperson for the National Foundation for Credit Counseling, based in Washington DC.

We asked three undergraduates to estimate their weekly expenditures during the semester. Then we crunched the numbers to see what they’d actually spent and how that matched up with their own estimates.

Financial expert:
Leslie H. Tayne, Esq., attorney specializing in debt-related services, New York City

Which would you cut? utlities v. celebrations

Korena H. is a fourth-year student at California State University, Sacramento.

If this were a typical week, Korena’s extra spending per calendar year would be around $2,300.

Korena’s reaction
“I was really surprised with my personal expenses. I did not take into account all the birthdays I buy for. I don’t generally handle the utilities bill so I’m not super-familiar with it.”

Expert’s reaction
The key issue Tracking costs

“This student is living close to the edge and over budget on some things. Try and break it down to see where you’re spending the most money. With your utilities, if it’s your electric, see if you can conserve power by unplugging things you aren’t using and turning off lights and electronics. If it’s other areas, consider calling the companies and asking for a student discount. You may be surprised at their response.”

Student budget tools

Can you afford school supplies and eating out?

Alice R. is a fourth-year student at the University of Utah, Salt Lake City.

If this were a typical week, Alice’s extra spending per calendar year would be around $3,330.

Alice’s reaction
“I was surprised by the amount I spent on food. I didn’t take into account that I went out of town, forcing me to purchase more meals at restaurants. It is shocking to see how eating out can add up.

“This is a reality check about where my money is being spent. The amount that one overspends in a year could be enough to pay the bills for several months.”

Expert’s reaction
The key issue Budgeting for variable expenses

“This student has a great sense of fixed expenses but is not budgeting for the variable expenses, such as academics, personal items, and food. This can result in her having less money to pay fixed obligations such as rent. It’s also important to keep some money aside for the unexpected.

“I suggest budgeting each week and trying to break down the categories and see where you are overspending. Maybe you can switch to generic for certain items or cook more at home.”

The case study no one expected

Charlie R. is a fourth-year student at St. John Fisher College, Rochester, New York.

If this were a typical week, Charlie’s savings per calendar year would be around $1,700.

Charlie’s reaction
“I think I spend more than I actually do, which is surprising. On average my costs are low, but when I’m busy, I tend to get fast food or buy food more often, increasing my spending. Overspending, especially on a limited income, makes everything more stressful and definitely makes purchasing even food tough. Saving helps relieve that stress but can also open up temptation to spend on things that aren’t required but just wanted.”

Expert’s reaction
The key issue Making the most of savings

“This is great! This student is really cutting costs and able to save money. My suggestion would be to put all this money aside in case you go over on expenses one month or something unexpected comes up. Any money left over can be put towards loans or saving for the upcoming semesters.”

10 tips for having a blast on a budget

1. Carry cash
2. Necessity or luxury?
3. Carpool, bike, bus
4. Separate checks
5. Student ID
6. Group discounts
7. Clubs
8. Community events
9. School events
10. Plan ahead