The holiday season is a wonderful time for giving, celebrating, and connecting with loved ones. But this time can also be a financial challenge, especially for students on a tight budget. Red Kite is here to help you ease the financial stress of the season.
Let’s get into some tips on how to manage your expenses without breaking the bank:
How to Budget for Winter Break:
Calculate Your Funds
- Add up any money you have from savings, holiday gifts, or part-time jobs.
Plan Your Spending
- Determine how much you can afford to spend overall during the holidays. Be realistic and stick to this limit to avoid overspending.
Use Budgeting Apps
- Apps like YNAB (You Need A Budget), or PocketGuard can help students track expenses, create budgets, and manage savings.
Declutter and Sell Unused Items
- Sell old clothes, textbooks, or electronics through online platforms to make some extra money.
- Usually, most sites offer shipping options, like Poshmark or Facebook Marketplace. Try to avoid meeting up with buyers in person, or if necessary, bring a friend along for safety.
Start a Savings Account
- If you’re earning extra cash over the break, consider opening a student savings account. Setting aside a small portion of your income will help build your savings.
- Look for accounts with no fees or minimum balance requirements.
Apply for Scholarships and Grants at Red Kite
It takes just 6 minutes to sign up for Red Kite and discover your personalized scholarship list. These opportunities will help ease your future financial burdens. We’ll search through over $25 billion in compiled aid, then carefully curate it just for you!
Fill Out the FAFSA Form
FAFSA is a Smart Step to Reduce Debt
- By completing the FAFSA, you become eligible for need-based grants, such as the Federal Pell Grant, which is free money you don’t have to repay. It also helps you qualify for work-study programs that allow you to earn money while attending school.
- Additionally, the FAFSA gives access to federal student loans, which often have lower interest rates and more flexible repayment options than private loans.
- Find out everything you need to know at the FAFSA Help Center.
Wishing you a fulfilling winter break filled with smart financial choices and memorable moments!
The Red Kite Team
