Campus Budgeting 101
What’s it called when you keep track of your money coming in and going out?
Budgeting
What three-digit number do banks use to judge if you pay bills on time?
Credit Score
What card gets you discounts at restaurants, stores, and on streaming services?
Your student ID card
What’s the safest place to keep your savings: a shoebox or a bank account?
A bank account
Name one bill you may have for the first time in college.
Phone, laundry, streaming services, groceries
True or False: A $7 coffee every day for a semester costs less than $200.
False — it’s over $1,000!
True or False: Your student loan money is free to spend on anything.
False — it must be paid back with interest.
True or False: Buying textbooks used or renting them is usually cheaper than buying new.
True
True or False: You have to save hundreds of dollars at once for it to matter.
False — small amounts add up fast.
What’s a “paycheck stub” used for?
To see wages earned, hours worked, and taxes taken out
If your weekly allowance is $50 and you spend $40, how much can you save each week?
$10
What’s one good way to avoid credit card debt as a first year?
Pay your balance in full, use it for emergencies only, or avoid opening one until you’re ready
What’s one way to save money on transportation around campus or town?
Use the safe ride, Silver line, or UNE bikes
What’s it called when your money earns interest on top of interest?
Compound interest
If you earn $12/hour and work 5 hours, what’s your pay before taxes?
$60
Name one way to spend less on food without skipping meals.
Will accept: Use your meal plan, buy in bulk, cook in dorm kitchen, split groceries, or other
What happens if you miss a student loan payment?
It can hurt your credit score and add late fees
Name one place to get free or discounted school supplies on campus
SASC, RA events, UNE Swap shop
If you want to save $200 for spring break and have 10 weeks, how much should you save weekly?
$20 per week
What’s renter’s insurance for?
Protects your belongings if they’re stolen or damaged
What’s the “50-30-20 rule” for budgeting your money?
50% needs, 30% wants, 20% savings/debt
If you borrow $5,000 with 5% interest, will you pay back more or less than $5,000?
More — because of interest
What’s a good rule before making a big purchase — wait how long to see if you still want it?
24 hours (the “cool-off rule”)
What’s a short-term savings goal that makes sense for a first-year?
Books next semester, concert tickets, emergency cash, holiday gifts
What’s it called when you put money aside for yourself before spending on anything else?
Paying yourself first