Topic > Financial Planning for Students - 1021

Financial planning for a student is vital to the successful completion of a degree and continued success after college. The goal of this assignment is to evaluate four ways someone in my position could save money and budget. By carefully planning finances, a student can avoid a lull in learning due to financial issues and set themselves up for success after college. In the list provided below I will provide four tips that I will use to circumvent the possible financial danger facing every student.1. Track it. According to Lucy Lazarony of Bankrate.com, tracking expenses for as little as two to four weeks can help a student understand where their money is going. I agree. It presents the question, “Are four trips to Starbucks a week really necessary?” in an effort to remind students of the need for financial reflection. Lazarony quotes Vickie Hampton, a financial planner and associate professor at Texas Tech University in Lubbuck, Texas: "They don't realize how much they spend on little things... [t]hat's the most common revelation." Lazarony adds what Mark Oleson, director of a financial counseling clinic at Iowa State University, said: "Usually, by simply tracking your spending, you'll start to curb it" ("Saving: Money Management Tips for College Students" ). As stated above, expense tracking can give students insight into what they are actually spending their money on. This provides valuable data that can then be analyzed and help determine what their priorities are. The downside to expense tracking is clearly the time it takes and its repetitive nature. I believe this is why a limited time is recommended in the article. However, I was able to repeat this exercise from time to time…halfway through the paper…five for each area of ​​their life during and after college. Every student should know how to avoid obstacles on the crucial path to their success. Sound financial planning and helping you stick to your budget from the start are critical to long-term financial stability. True scholars will always benefit from some advice. Works Cited Lazarony, Lucy. “Saving: Money Management Tips for College Students.” Mortgage Rates Credit Cards Refinance Home CD Rates from Bankrate.com. Np, 22 August 2008. Web. 15 June 2011.RC. “25 Smart Budgeting and Money Saving Tips for College Students.” Think about your path to wealth. Np, August 22, 2008. Web. June 15, 2011. Robison, Tamara. "10 Budgeting Tips for Students | Handbook Made." Mademan.com. Np, 3 May 2010. Web. 15 June 2011. Siddons, Sarah. “10 Tips for Sticking to Your Budget.” How things work "Business and money". Np, nd Web. June 15 2011.