Budgeting is #1 Skill.
College is the most important factor of most anyone’s career future. That being said, it is also one of the most expensive investments one can make. With such a large investment, it is easy to spiral down the path of debt. I believe that every college student should make it their goal to graduate debt free. It sounds like a difficult task, but I believe it can be accomplished by being smart with my money. The number one skill I plan on using in college in order to manage my money is budgeting. Budgeting will keep me down to earth with my money and allow me to internalize exactly how much I have, how much I should spend, and how much should be saved for future needs. To create an efficient budget plan, I plan on first calculating a range of how much income I make over a certain period of time. Budgeting on a smaller scale makes management much easier; I can estimate what I will need for a week much more accurately than for an entire year. Once I have a calculated range of income, then I will calculate how much money I need for necessities such as food, rent, transportation, and emergency money. Any money left over after calculating the price of necessities should be used to pay off any student loans or put into savings. With a solid plan made to fit my income and spending needs, I will be able to pay off student loans steadily while also practicing money management techniques to start off on the right foot financially after graduation.
Anna E. Hodges, Nashville School of the Arts