Back to School WITHOUT Breaking the Bank | Networth & Chill with Your Rich BFF

About this Video

• Video Title: Back to School WITHOUT Breaking the Bank | Networth & Chill with Your Rich BFF
• Channel: Your Rich BFF
• Speakers: Vivian 2 (Your Rich BFF)
• Duration: 00:32:55

Introduction

This video provides advice for students and their parents on how to manage the rising costs of education. The host, Vivian 2, discusses strategies for budgeting, maximizing student discounts, and utilizing resources to reduce expenses related to tuition, textbooks, travel, and other essential needs. The video also covers 529 plans and offers insights on student loans and credit card debt management.

Key Takeaways

• Prioritize career prospects over passion when choosing a major: Consider the potential salary and job market outlook when selecting a field of study to ensure financial stability after graduation.
• Utilize student discounts: Explore platforms like Uni Days for discounts on various products and services.
• Save on travel costs: Use Kayak's student travel section (kayak.com/c/students) and take advantage of Amtrak discounts for those aged 17-24.
• Reduce textbook expenses: Rent or borrow textbooks from the library, buy used books, or explore alternative resources.
• Leverage subscription service discounts: Take advantage of student discounts for services like Amazon Prime and Spotify/Hulu bundles.
• Explore free resources: Utilize library perks, including access to software like Adobe Creative Suite.
• Save money through secondhand and community resources: Join Buy Nothing groups and participate in community swaps.
• Maximize 529 plan benefits: Start saving early for education expenses; these plans offer tax advantages and flexibility.
• Manage credit card debt before taking on additional loans: Pay off high-interest debt before incurring more student loan debt.
• Consider loan forgiveness programs: Explore options like Public Service Loan Forgiveness (PSLF) if pursuing a career in the public sector.