Back-to-school season is approaching, students and teachers are eagerly looking forward to the upcoming academic year. Parents, on the other hand, may be excited about their kids being fully engaged and occupied all day. But either way, it’s no secret with this excitement comes a list of expenses that can leave your wallet feeling empty. Let’s explore some effective ways to crush costs with our ultimate back-to-school tips.
1. Fast Cash When You Need It
Believe it or not, school supplies are becoming more expensive with each passing year. While this can put a major strain on your wallet, there are some things you can do when you find yourself in a pinch. One is using MoneyLion’s InstacashSM, where you can get a quick cash advance of up to $500 with no interest, hidden fees, or credit check. So when you see a pack of Pokemon themed erasers that cost over $40, you can access the funds you need—right at your fingertips.
2. Earn While You Shop
As you shop for supplies and other back-to-school needs, there’s an opportunity to earn extra rewards with MoneyLion Shake N’ Bank Rewards1. For every qualifying purchase of $10 or more made with your RoarMoney virtual card or MoneyLion Debit Mastercard®, you can earn up to $500. It’s a simple way to earn while shopping for those academic essentials. #LearnThat
3. Secure Your Educational Future
Have you looked up how much college costs? A college education will end up running you an average of $36,4362.
Opening a high-yield savings account is a great back-to-school tip for those preparing for big educational expenses ahead of time. With competitive interest rates, you can watch your savings grow up to 12 times faster3 than a traditional account—easing the stress of saving for your college future.
MoneyLion offers a convenient marketplace to compare high-yield savings accounts from our trusted partners that could help grow your money.
4. Lighten your Repayment Load
If you’re like many, you probably have a cloud of student debt above your head. Consider student loan refinancing as a way to reduce your monthly payments and save on interest. MoneyLion’s partners offer student loan refinancing options which allow you to combine existing loans into one. This can potentially secure you a lower interest rate and extend the repayment period—providing you financial relief and free up resources to cope with current schooling costs.
5. Learn, Earn, and Hack
If you’re looking for more back-to-school tips and tricks to make your money go further—you can download the MoneyLion app. There you’ll find more financial solutions and money hacks that’ll help you save and make money, like our side-hustle playlist. This is perfect for teachers and college students who are looking for an extra income, not to mention amazing deals and giveaways. Like getting a chance to earn up to $500 to help with school expenses.
Back-to-school costs can feel overwhelming, but with MoneyLion’s help you can confidently stay equipped to handle that while securing a bright educational future for yourself and your loved ones.
