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Practicing law will earn you gobs of money some day. Professional lawyers don’t need to beg their way through life. As a law student, you already know that good things are headed your way.
But what about the here and now? Students usually don’t have a lot of money, and law students do not have the time to devote themselves to jobs that require longer shifts. You can’t pay your bills with future cash. The grocery store won’t take IOUs. But don’t lose hope! If you can’t earn lots of money, you can at least do your best to save what you’ve got. There are a few ways to accomplish this. Here are a few of them.
Work Your Way Through School
No matter what kind of hot shot student you are, you’re not above finding work at the local department store. Get a regular job. Working at the your corner grocery shop or coffee house might seem like small potatoes, but that money adds up (additionally, it gets you some serious work experience). That extra ten to twenty thousand dollars a year is ten to twenty thousand dollars a year less that you’ll need to pay off later. That’s a significant amount of money. Relying entirely on student loans is a terrible idea. Once you get that cushy lawyer gig, you don’t want to spend your first two decades of wages paying back your financial aid, do you?
Shop Around For Schools
Don’t throw away a fortune just for the name recognition of a so-called top college. Law school is law school. As long as your institution is accredited, you’ll be getting a top notch education. All law professors have years of experience and have worked their ways up to their jobs. And you’ll be surrounded by other students accepted into law school. There are smart people everywhere. Take advantage of your institution’s library services, which will give you access to the work of the top scholars of all time.
Don’t Live Alone
Have roommates. Yes, living with other people can be incredibly irritating, but splitting your rent four ways can, well, split your personal costs four ways. You’ll end up making lifelong friends and have a tight support group to help you through the tense times. (And law school can definitely give you some tense times.)
The time for excitement is later. There’s no need to party big all the time. You don’t need a new car or a luxe apartment. Skip elaborate vacations. Laying low and playing it cool is the way to go. Play the long game. It may be a cliche, but “The Tortoise and The Hare” contains some eternal truth. Keep quiet and serious to build your long-term dream life. Too many people get carried away with their dreams before they’ve put the work in to build them. Moreover, learning to stay frugal now will help you develop lifelong responsible habits. People who know how to save during their twenties should have no problem watching their wallets during their forties.