Why It Matters: Financial Management
College life comes with a lot of expenses, like the cost of courses, supplies, and books, as well as costs like rent, food, clothing, transportation, and medical care. Do you experience issues with managing your finances?
Learn how to balance costs and to spend your money well. Learn, too, about financial aid options like scholarships and student loans.
College life comes with a lot of expenses. Students must balance the cost of courses, supplies, and books—as well as the costs of living like rent, food, clothing, transportation, and medical care. And we have not even mentioned leisure activities yet, which can add up quickly. Watch this interview with two college students and a financial adviser. Do their situations seem familiar? Are you facing any of the same issues?
The students in the video above struggled to keep track of their money and to keep their spending in check. One of the first—and easiest—steps in financial management is to simply pay attention to your money: record (or look back to see) where and how you are spending it. Once you know where your money is currently going, you can figure out what steps to take next.
In this section, we discuss how to balance these costs and spend money well. We also explore about financial aid options, such as scholarships and student loans, and where these aid options are most effective.
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