Have a Balanced Budget
One of the biggest obstacles facing college-bound teenagers today is the price tag. Many high school graduates believe that they can’t attend any post-secondary institution for fear of being crippled with debt. This can be true if students do not wisely manage their money throughout their time in college. There are multiple, and relatively simple, ways that college students can easily keep a financial balance and avoid the crippling debt after graduation.
Some money saving tips may seem easy and simple, but applying that knowledge can be a little more difficult. One of the most common pieces of financial advice that students receive is that they should rent or borrow expensive textbooks instead of buying them. Another common piece of advice is to make coffee at home in the morning instead of over-paying at a local shop every morning. These pieces of advice are just two examples of what college students can try, but it all really comes down to one thing: a budget. This is the most important thing for any college students to create and then follow.
Having a balanced budget can make all the difference both while a student is in college and after graduation. It’s important for students to understand how much money they really spend each month, or even each week. This can help the student take any money they shouldn’t be spending and save it away for emergencies or for use after graduation. While a budget may seem like a simple idea, if every college student used a balanced budget, there would be significantly fewer in this crippling debt that is keeping so many out of college completely.
Catherine English, John Overton Comprehensive High School