LIFESTYLE & TRAVELCOLLEGEBUDGETING

Three Tips for Traveling as a College Student

Many college students hope to travel. Luckily, there are many opportunities that aid students in reaching their wanderlust goals. Some include opening a vacation savings account at their on-campus financial institution, utilizing student discounts, and partaking in study abroad programs to help make their travel dreams come true. Read on to learn how you can affordably take your dream trip while working toward your degree.

Tip 1: ## Study Abroad

One option available to college students is participating in a study abroad program. This allows you to travel to your dream destinations while gaining credits towards your degree. Even better, they often have options to help with financing, such as scholarships or financial aid through your university. Consider speaking with your financial aid office about financing options. Keep in mind that after paying your program fees and tuition, you’ll likely be responsible for covering supplemental costs such as your flights, meals and souvenirs. Be sure to budget for these additional costs ahead of time to avoid further debt.

Tip 2: Student Discounts

As a college student there are many student discounts available to you. Typically you must present a student identification card to receive a discount, or use a college email account to partake in online offers. To learn of existing programs or discounts, check your college or university’s website. There are more general discounts available to college students too! One you could take advantage of is the Amazon Prime Student membership, which could help you save money on travel items and school supplies.

In addition, look into rewards cards at your financial institution. If you plan to go abroad, look for a card that offers no international transaction fees and cash back rewards. Some cards offer cash back on all purchases, like the Credit Union’s Platinum Plus Visa, whereas others offer cashback based on what you are purchasing, like the Credit Union’s Visa Signature card. Research your options to find the rewards card that will work best for you! You may even qualify for the lowest interest rate available as a college student!

Tip 3: Save with Intention

When planning for your dream trip, it’s important to note anticipated expenses so you can adequately prepare. Do your research to determine the average cost of transportation, lodging, meals and experiences at your destination. Use this information to set your savings goal. Then use your budget to determine how much you can save and how long it will take. To cut costs, consider inviting a companion! After you have taken these steps you will have a SMART goal, one that is specific, measurable, attainable, realistic, and time-based, and will prepare you to make your dream trip a reality!

Now that you have determined your monthly savings goal, talk to your financial institution about ways they can help you save. Your financial institution may offer a savings account specifically for vacation savings. You can also try an account that earns a higher percentage of dividends on your money than a standard savings account. Lastly, consider setting up automatic transfers to make saving even easier! Oftentimes, you can do this right from your financial institution’s mobile app. Saving with intention and utilizing savings options will allow you to take your dream trip sooner!

Traveling in college can be difficult, but there are lots of ways to make it possible! Studying abroad, utilizing student discounts, and asking your financial institution about products or services that can help are all great ways to get you off campus and exploring. Decide on an option that works for you and enjoy your dream trip!

Sources:

• https://educationabroad.isp.msu.edu/
• https://oakland.edu/ie/studyabroad/
• https://www.cnbc.com/select/where-to-find-use-college-student-discounts/
• https://www.msufcu.org/visa?gad=1&gclid=CjwKCAjw6IiiBhAOEiwALNqnceiVPlKqT2dY45P_oDcqIzcmj-s8TjIH2Wicw8A2mmYfE0WHfp0OCRoCT90QAvD_BwE
• https://www.oucreditunion.org/visa
• https://www.msufcu.org/savings
• https://www.oucreditunion.org/savings