The 5 financial tips for the second week of September 2013 are given below.

Tip no 1: It is very much possible to be a graduate without a student loan. All you need to do is get scholarships and grants.

The rising tuition cost has made it extremely tough for the students to be a graduate without taking out student loans. However, it is not completely impossible to be a graduate without being immersed into debt problems. You can apply for scholarships and grants to get financial aid. There's no rule which says that you need to have A+ grades in order to be eligible for scholarships. All you need to have is dedication, hard work and patience. There are thousands of students who have received grants and scholarships without being an exemplary student. If they can get scholarships, there's no question why you shouldn't qualify for them.

Tip no 2: Don't be disappointed if you're unsuccessful in creating a perfect budget. A little bit of practice will help you craft the best budget plan. Have patience.

Don't feel depressed if you're unable to create the perfect budget in your first attempt. Usually, people are able to craft a good budget plan only after numerous attempts. So, you're not the only one who are making mistakes while creating a budget. Take a positive attitude and try to learn from the mistakes. For instance, if you have not been able to save money as you've allocated a huge amount of money for expenditures, then try to avoid repeating the same mistake next time. Revise your budget plan and allocate a small amount for expenditures. Stick to this plan and you'll see that your savings have increased significantly.

Tip no 3: The biggest surprise you'll get after creating a budget is that you've more money suddenly.

It is not easy to live on a budget. You've to make so many changes in your lifestyle. You have to spend every penny after thinking carefully. You've to give up the expensive dinners, clothes, accessories, vacations, etc. However, there's a big benefit of following a budget. You'll save a substantial amount every month. As a result, there will be more money in your checking account than what you had in the past months. This will give you a psychological boost. You'll have a greater cash-reserve. You can use the money for having a better financial future.

Tip no 4: If you're sad and depressed, then avoid going for shopping. It won't give you the ultimate bliss. Your soul won't be satisfied.

Shopping can only help to forget your grief for a short period of time. It won't actually help to resolve the problem that made you sad in the first place. So, you won't be happy in the long run. Moreover, you'll only stash a couple of new credit card bills into your wallet.

If you're sad and depressed, then watch out for the other ways to change your mood. For instance, you can watch T.V or read a good book. You can also cook to release your stress. However, the best option will be to find out the real reason behind your depression and work on it.

Tip no 5: You can forget about getting rid of debt without having a strong control on your income. Make more money than what you spend to become debt free.

Money gives you the ultimate power in the modern life. You can bring positive changes in your life with money. If you want to get out of debt and get a complete control over your financial life, then try to make as much money as possible. There are hundreds of ways to increase your income. All you need to do is find out the right way for yourself.

Make more money and spend less in your life. The wider the gap between your income and expenses, the better for your financial life. For instance, if your monthly income is $5000 and your expense is $2000, then it means you're saving $3000. You can use this money to get a debt free life. However, if your net monthly expense is $5000, then you're actually not saving any money. As such it will be very difficult for you to get out of debt.