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We are excited to announce the February 2025 Financial Goals Scholarship winner is Chante! Congratulations!
"I feel so thankful to have received the 1st Financial Bank USA Financial Goals Scholarship. It allowed me to reflect on my spending and find more ways to save. I can’t wait to use this towards my education. Thank you so much!!!" - Chante Z.
Saving money as a student isn’t always the most exciting, but it is important for your future. Whether it’s keeping every $5 bill you come across, committing to a no-spend challenge, or asking a friend to be your accountability partner, you can find some pretty creative ways to save money while in school. In her essay, Chante shares the best savings method that she has found so far.
"Saving money as a first-generation college student was initially a challenge, especially while trying to balance school, working over breaks, and all the pressures of college life. But I’ve found that saving does not have to be a daunting task. One thing that’s really helped me is doing a no-spend challenge.
For one week, I commit to not spending money on anything that’s not essential. So no getting matcha tea, no eating out, and no impulse buys. At first, it was tough. I realized just how often I’d spend money without even thinking about it. But as the week went on, it actually got easier, and I started to enjoy it. I began cooking more at home, hanging out with friends in the dorm instead of going out, and finding other ways to pass the time that didn’t cost anything.
What surprised me the most was how much it relieved my stress. When I wasn’t spending money, I felt more in control of my finances. I no longer felt like I was constantly running out of money, and I didn’t have to worry about overspending. It also made me realize how many things I didn’t really need to buy in the first place. It was a big wake-up call, and now I’m more thoughtful about my purchases.
Another thing I loved about the challenge was how it showed me that I could still have fun and connect with others without spending money. Before, I always thought I needed to spend money to enjoy myself. But during my no-spend week, I found plenty of ways to have a good time without reaching for my wallet—whether it was watching movies with friends, going for a walk, or just studying together. By the end of the week, I felt proud—not just because I saved some money, but because I realized I could have a full and enjoyable life without spending all the time.
Even though I’ve only done a few no-spend weeks, it’s already had a big impact on how I manage my money. It’s helped me become more mindful of where my money goes, and I’ve realized that saving doesn’t always have to be a big, complicated thing. Sometimes, it’s just about taking a step back and being intentional with your spending. I plan to keep doing no-spend challenges throughout the semester, and I’m excited to see how it continues to help me feel more in control of my finances. It might not be the most exciting thing, but it’s definitely been worth it for my peace of mind.”
Established in the year 1910, 1st Financial Bank USA (1FBUSA) provides quality community banking services in South Dakota, credit card and other financial services to college students and college graduates, and construction lending to builders, developers, and investors from coast to coast. 1FBUSA will award a $2,000 scholarship to a new winner each month. View full rules and eligibility at 1fbusascholarship.com.
