Off-Campus Financial Resources

Financial independence is often part of the decision to live off-campus. Think about all the things that start adding up that you may not have thought about: rent, internet, cable, utilities, groceries, tuition, car payments and insurance, entertainment expenses, clothes… long list! Living off campus is a learning process, and there are lots of resources designed to make that transition easier:

• On- vs Off-Campus Comparison Chart: Helpful chart that compares on-campus vs off-campus living choices and considerations.

• Housing Budget Worksheet: Keep track of all the expenses for the housing options you are considering.

• MSU's Financial Aid Website: Apply for financial aid, create a budget, apply for scholarships, and more.

RENTERS INSURANCE

We highly recommend purchasing renter’s insurance.

Renters insurance covers your personal belongings and provides liability coverage—in case of say, a fire or theft— when you’re living in an apartment, house or condo that you don’t own.

Here is a helpful guide to learn more about renter’s insurance.

Avoid Credit Card Debt

Whatever you do, don’t get into huge credit card debt. Keep in mind many credit cards have annual fees and late fees. All credit cards have annual percentage rates be responsible with your balance and payments!

These tips from thebalance.com provide some important things to keep in mind with credit cards:

1. Select the credit card that is best for you.

2. One credit card is enough.

3. Only charge what you can afford to pay.

4. Pay your balance in full every month.

5. Don't even think about a cash advance.

6. Stay under your credit limit.

7. Make your friends get their own credit card.

8. Don't be afraid to close the card.

9. Don't expect your parents to bail you out.