Pursuing an education is a significant opportunity with a long list of responsibilities and deadlines.
When you’re balancing a part-time or full-time job on top of your schoolwork, it can take a toll on your finances and your ability to sustain a healthy budget.
With these three comprehensive tips, you can take steps to balance your work life, school projects, and your overall finances.
1. Look for Scholarship Opportunities
It doesn’t matter what age you’re attending classes; the costs of education can still feel overwhelming.
If you’re balancing professional responsibilities, your finances will likely go towards a home or additional living expenses — leaving you unable to make tuition payments.
While most students look for loan opportunities first, there are often several grants and scholarships available for almost every major.
If you’re able to acquire free money, you can put a greater emphasis on your studies and your workload, giving your budget a much-needed breather.
2. Understand Your Lending Options
If you’re unable to collect a grant or scholarship, it’s essential to know where your lending options fall so you can make the responsible choice.
Depending on your courses, you might find that your textbook costs or equipment expenses are far greater than you anticipated.
This is when it’s important to know where you can access funds efficiently — because when you’re juggling work and school, you don’t have time to wait for traditional lenders to approve your application.
Reaching out to alternative, direct lenders opens a new set of doors for short-term financial relief. When those urgent expenses arise, online installment loans from GoDay are available quickly and efficiently — with a few clicks, you’ll have the money you need to get back on track.
As long as you have a realistic payback plan in place, you could significantly benefit from utilizing these types of easy loans.
3. Save with Student Discounts
Even though you’re a working professional, if you’re attending school in an in-person or virtual capacity, you’re eligible for student discounts.
It’s one of the most straightforward tools to saving money that you can take advantage of, even as you balance part-time or full-time employment. Accredited colleges, universities, and trade schools will often offer various discounted rates for their students to access.
Subscription services can run you hundreds of dollars every year if you’re paying full price.
Whether you’re using these services for deliveries or to watch your favorite programs, if you have a valid student ID, you can access the same content for a discounted rate. As a bonus, if you can share the account with a friend and split the costs, then you’ve doubled your savings.
Restaurants, retail chains, and even your local city transportation offer student rates for their services. So even though you’re employed and earning a steady income, you can reduce your yearly expenses — with the freedom to redistribute the money to the areas of your life that will benefit from a bigger budget.