Time to Get Financially Fit

by ursavoice

Nasreen B. Zia
Director of Financial Aid

Happy New Year—Time to get Financially Fit!

Now that the holidays have passed and Spring 2011 semester is upon us, many students may begin to feel the financial stress and worry about how to pay for summer expenses. Summer Financial Aid will not be available unless you are enrolled in at least 6 semester units during summer. You can lessen the anxiety you may feel during this time of the year by planning ahead. You may consider the following tips for a more enjoyable Spring 2011 semester:

• Start saving now! Put aside a little each month through the semester.

• The more money you save, the less you will have to borrow now and the less you will have to pay back later.

• Small savings add up.

• The sooner you start making conscious decisions about spending money, the sooner you will be in control.

• Do not wait till the last minute, if you spread your expenses over several weeks or months, you will not have to come up with so much money at once.

• Planning and sticking to a monthly budget will help you avoid piling on more debt.

• Determine how much you are planning to spend during spring semester in order to save for summer. If this figure seems too high, make adjustments.

• Be creative with your budget; try to minimize your expenses.

• Low or no-cost budgeting software and web based tools are available online: http://www.mint.com, http://www.finaid.org/calculators, http://www.aie.org.

Now is the time to get organized, and remember, your choices make a difference. Do not forget to stop by the UCI Law Financial Aid office to discuss your plans for Summer 2011.

Again, Happy New Year and good luck with the Spring 2011 semester.