Long-term, successful money management involves balance, mindfulness, and passion driven decision making. This kind of dialogue not only overlooks significant systemic issues within higher education that cause financial hardship, but also can lead to restrictive and unrealistic budgeting expectations. While the focus on budgeting isn't an issue in and of itself, the way budgeting is talked about to the student population typically comes with assumptions and condescending remarks, almost always insinuating that the cause of students' financial hardships is solely caused by overspending on expensive coffee and having one too many streaming services. Oftentimes when college students first engage with Personal Finance subject matter, messaging about the importance of budgeting tends to be the dominant theme. You may not feel like you need to stick to a strict budget while in school, but getting into the habit of using a spending plan as a student can make it easier to manage your money as your finances continue to get more complex. While each individual's budget may look different, the steps in creating your spending plan are fairly universal: When you actually see the breakdown of your expenses, you may be surprised by what you find this process is essential to fully grasp how all of your spending decisions can impact you. ![]() Planning and monitoring your budget will help you identify unnecessary expenditures, allow you to adapt quickly if your financial situation changes, and make you more likely to achieve your financial goals. Regardless of what method you use or how much money you have to work with, a budget will help to keep you organized, give you a better idea of your financial situation, and allow you to feel more confident in the financial decisions you make. Budgets can be made using a spreadsheet, online tool, or just a pen and a piece of paper.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |