Summer 2023 Issue #14

5 WAYS COLLEGE STUDENTS CAN SAVE MONEY IN NYC THIS YEAR With the cost of college rising over the past 40 years, it ’ s more important than ever to be smart about saving for and during the school year. And when you go to school in one of the most expensive cities in the world, living on the cheap is challenging, but possible. That ’ s why we ’ ve compiled a list of the top five financial tips for college students, centered around New York City. Get a debit card that gives back. 1 If your account doesn ’ t earn interest or give you deals and discounts, or if it comes loaded with monthly fees and ATM fees, then you ’ re losing a lot of value. For alums and fans of St. John ’ s University, the Johnny Card provides two different saving options, depending on the checking account you choose : PERKS CHECKING INTEREST CHECKING Become a budget and discount wizard. 2 Budget your expenses for the school year and track your spending. Include everything : rent, utilities, transit, school supplies, party money, dining out, groceries, makeup, toiletries, etc. and identify a number to stay under every month. A good bank account will provide you tools to see your spend, receive alerts, avoid overdrafts and manage your account online. Through MFS online and mobile banking, you have the capability to set card alerts, set transaction limits, create savings goals and get insights on how you spend. Look for ways to bring money in. 4 If you haven ’ t done so yet, fill out a Free Application for Federal Student Aid (FAFSA) form to determine your eligibility for financial aid. Next, make a habit out of hunting for scholarship opportunities, which you can do year round. College life is busy, but chances are you ’ ll have time to earn money on the side. If you can manage a part - time job, go for it. Maspeth Federal Savings is always looking for candidates and we have a variety of positions available. Learn a few cheap and easy meals to make regularly. 3 Indulging in takeout and delivery often can do some damage to your budget. Stick to your dining plan to maximize your time and savings. If you don ’ t have a dining plan and have access to a kitchen in your dorm room or apartment, pick four to five meals you love and make them part of your weekly routine. Check out maspethfederal.com for current openings. Attend a financial literacy session. 5 Maspeth Federal Savings holds regular financial literacy sessions at local schools and college campuses, where we teach students about saving, budgeting and credit in addition to answering questions. Follow us on Instagram to find out where the next one is, or reach out to us via email to request a seminar at your school. @maspethfederalsavings finlit@maspethfederal.com 4