Amanda, A Working College Student
Amanda goes to college downtown and works uptown as a waitress. Between school supplies, transportation, hanging out with her friends and shopping for groceries and other necessities, she averages 20 debit transactions a month.
Amanda has taken out a student loan to help her with her studies but to avoid borrowing too much, she works to pay rent and earns $1,000 each month. Durring the 4 months she has off in the late spring and summer, Amanda is able to work full time but finds that she spends more too. To help her stick to her savings goals she signed on to the Invest the Rest Savings Plan and was able to make the next school year a little easier. This is how she did it:
Chosen rounding increment per transaction: $2
Saves between $35 and $40 each month
At the end of one year Amanda has saved $435
How Amanda allocated her savings:
With the full time hours she worked during the summer Amanda was not only able to save enough to pay much of her monthly rent for the following school year but she was able to treat herself with a spring break getaway with her school friends.
More details on the Invest the Rest Savings Plan
