Tips on making money to support college costs

Whether you’re a parent of a third level student, in college yourself or trying to save towards supporting yourself or a family member through further education, here’s some suggestions on how selling items on DoneDeal can ease the burden Ireland may have free education, but there is still a cost of going to third level shared by both parents and their college-going children. And of course there are costs that mature students and adults returning to education have to carry. According to 2014 Irish League of Credit Unions Cost of Third Level Education’ study, four in five parents in Ireland are contributing to supporting a child through college. The average they are paying out is €428 per month per child. According to the study: 64% of all parents struggle in some way with the costs of college. 39% of parents say it is really hard and feel the costs are constantly increasing. 18% feel that they will not be able to manage college related costs for their children at all. Where people get the money Savings (47%) Monthly income (46%) Credit Union loan (29%) Other (grant, allowance) (12%) Credit card (6%) Bank loan (3%) Money lender (1%) An easy way to contribute towards that extra €428 a month or save for it is to advertise items for sale on DoneDeal. Your key steps to saving for college with DoneDeal Calculate the cost of going to college (food, rent, bills, transport, study materials, entertainment) Set a financial target you want to save per year/per month Open up a bank or credit union savings account Find items to sell Set up a DoneDeal account and post ads Deposit the cash straight into your savings account Review your savings goals regularly Only spend the money when it’s needed Tips for all adults saving for college See your whole home as a store room or showroom where you’re just holding items to sell on to buyers. It’s like ‘display items’ in a shop – once you have enough of something you can sell it on before it gets too much wear and tear. If you’re doing a bit of a redecoration sell on items rather than giving away or putting them in the attic. Save the proceeds. Tips for parents of secondary school pupils You can start saving now towards future expected education costs for your growing family. Parent of a school leaver Finishing school and starting college means that your child is well on the road to adulthood. While their bedroom at home no doubt contains the trappings of teenagehood, it may also have quite a few remnants of childhood, and things they’ve grown out of. Chat to your son or daughter about how you can clear out their rooms without them feeling they’re being asked to ‘clear off’. Take the opportunity to get your own house in order and sell all the stuff you don’t like or use. Students (over 18s) Chances are you grew up during the boom and while you may worry about your prospects, you could be sitting on a goldmine. Here’s some ideas on how to turn that ‘gold’ into ‘cash’ Who knows your old clothes could be another student’s dream or older pieces may be vintage or retro. See our Fashion section. Have an amazing set of tamagotchis? Advertise these in Collectibles and Toys Outgrown the games consoles? Sell these in Gaming Snapchat or Instagram a screenshot of your ad to get it out to your friends or share the links direct to Twitter and Facebook What not to do It is not okay to sell items that are not yours – not your grandparents or your parents or brothers and sisters stuff. Parents: check with your kids or teens or partner before selling on items. Even if you bought them and they don’t use them it could cause a bit of heartbreak and upset if you sell stuff they have an emotional attachment to. Remember, always ask! #College #Finances #MakeMoney #Students