Financially Savvy Resources

Save Money and Build a Solid Financial Foundation

We get it: the financial struggle is REAL at times! Taking out student loans, paying bills, managing expenses and saving money all require strategic planning and decision making.

The resources below may help you in your overall spending and set a foundation for future savings.

UMBC Office of Financial Aid & Scholarships
Financial aid can come in the form of grants, work study, student loans, parent loans, scholarships and other awards. A counselor is available to help walk you through your options.

UMBC’s Payment Plan
UMBC’s Monthly Payment Plan (MPP) can help you budget your out of pocket costs not covered by financial aid. The plan enables you to pay tuition and fees as well as university room and board on an installment basis.

Students who attend UMBC full-time may consider enrolling in (and finishing) 15 credits per fall and spring semester. Not only will this plan help students graduate within a timely fashion, it also yields other financial benefits such as lower overall tuition/educational expenses and lower student loan debt.

This site provides students with information on finance-related topics such as credit, investing, job seeking, and budgeting.

Speaking of budget, we encourage you to check out our new MyBudgetCoach program. This online platform allows you to work closely with a trained coach who will help you make informed decisions and develop a budget to meet your financial goals.

For ongoing announcements and updates on financial education and literacy opportunities at UMBC, join the Financial Smarts myUMBC Group.

Rent your textbooks
Not all textbooks are available to rent, but for those that are, this can significantly cut down on your book budget for the semester! Renting can often be a good option for your non-major courses.

• Using an app to manage your money – There’s an app for that! Online Banking, websites like, and budgeting spreadsheets can provide you with plenty of ways to keep your finances organized.
• Keeping an eye out for student discounts – From museums, to movie theater tickets, to cell phone plans — don’t hesitate to ask retailers and businesses if they offer student discounts!
• Planning for big expenses in advance – Putting a little money aside each pay check will help you avoid the strain of having to decide between splurging on an afternoon at the mall or paying for school expenses such as text books or meal plans.
• Being conservative with credit cards – Having a credit card or two can be good if you use them strategically. Start by maintaining one card and make at least one charge to it every month, such as gas or groceries.

And for fun, check out Baltimore College Town for your weekly run-down of free and affordable entertainment in the area!

Do you have some financially savvy ideas you would like to share? Feel free to email to share!