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College is a bit of a paradoxical situation-the main reason for attending is to escape the lifelong fate of minimum wage jobs. However, while you’re in college, you may have to learn to get by on minimum wage in the meantime. Most college students come out of high school with little or no work experience. Couple that with a lowly high school diploma, and your earning potential during your college years may look pretty bleak. Though it may not be easy, it is still possible to get by with minimum wage earnings during college. In this post, we’ll give you pointers on how to make it through four years of your life on minimum wage.
When you are in school full-time, it can be difficult to try to work in a job. When you’re earning minimum wage, though, the more hours you can work, the more likely you’ll be able to earn a paycheck that’s substantial. Try to find a job that allows you to work evenings or weekends to avoid a conflict with school. You might even try to kill two birds with one stone by trying to find paid positions for which you also get school credit or research experience. That way, you’re earning more than just minimum wage when you factor in the perks. Similarly, take advantage of your summers. If you’re not in summer school, you would do well to work full-time. Minimum wage may not seem like a lot, but if you save diligently over three months while working full-time, you’d be surprised how much you can amass. These savings can then serve as a cushion during the school year when you are limited in how much you can work.
A job is a great way to cover the cost of your education, but often times there are easier ways to get money. For instance, if you do some research, you can find a plethora of scholarships and grants that basically offer free money. Your best bet in getting these types of awards is to fill out the FAFSA and look into scholarships online and at your college. If your earnings and scholarships still aren’t enough for you to get by, rely on student loans before you whip out your credit card. Student loans have much more reasonable interest rates, will not have to be paid usually until you graduate, and have more flexibility in repayment. Credit card debt may seem like a tempting way to enhance your minimum-wage lifestyle, but it will come back to haunt you later. Stick to low-interest federal loans instead.
