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A Good Steward
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Money Matters in College
by Kathy
Miller
Many adults have trouble managing their money. When you
graduate your degree will help you get a job in the field of your choice, but a
good income does not guarantee financial success. Following are the most common
reasons students give for not managing their money along with strategies for
getting beyond them to take charge of your money -- and your
life.
"I'm too lazy."
You are not! When you have a full
schedule you may let some things slide. That does not mean you are lazy. You
may be stressed out, overworked, overtired or overwhelmed, but lazy people do
not put forth the effort it takes to go to college.
Solution: Think
about what motivates you. What do you make sure you do every day, no matter
what? What do you make sure you do every week, no matter what? Imagine how
managing your money could help you get what you really want and add it to the
list of things that really matter.
"I don't have any
money."
Believe it or not, it is easier to learn how to manage your
money when you do not have very much. Then when you do get more money it will
not disappear too quickly.
Solution: The less money you have, the more
important it is to prioritize your spending. For one month write down every
purchase you make whether you use a credit or debit card, cash, or check. At
the end of the month put your purchases into categories to see where your money
is really going. Any changes that need to be made will become clear. Looking at
the facts might even motivate you to find a way to increase your
income.
"It's too hard."
It's true, if you are trying to use a
system that does not work for you, it will not be easy. Most money management
systems were designed by accountants for people who think like accountants. If
you are not in that group, it's okay. You just need a system that will work for
you.
Solution: Experts recommend you create a routine and keep things as
simple as possible. Find a system that feels comfortable for you, or make one.
Books like
Money
Management for the Creative Person and The Too
Busy to Budget Financial Organizing System, available at your campus
bookstore, can help you gain control of your finances.
"There's no
way out."
This one's a red flag. If you're feeling hopeless about your
situation, about any situation, it's time to reach out for
help.
Solution: It takes strength and courage to ask for assistance, and
you will feel much better when you talk to someone who can help. Find a
resource on campus or online at
www.campusblues.com,
www.debtorsanonymous.org or
www.gamblersanonymous.org.
Kathy Miller,
Author of "Too Busy to Budget," helps people prosper by providing information
and inspiration for resolving "real life" money issues. Visit her on the web at
www.TooBusyToBudget.com.
Copyright
©2004 Permission is granted to reprint this article in print or on your
web site so long as the paragraph above is included and contact information is
provided to www.agoodsteward.net.
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