Money Management for College Students

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Name: Teera S. Harryram Subject: English Usage Assignment: How college students can manage their money? The moment a person steps into, what I refer to as, ‘college life,’ he or she flexes his or her muscles in order to prepare for a new phase in life. This can be an exciting time, as well as one of the greatest joys in life for those fortunate enough to attend. However, while parents and college administrators do a good job in preparing students for all kinds of social and academic challenges, rarely do they receive information on how to manage their finances while away. There are few but important ways to manage money in college; two being budgeting and by the use of student coupons and discounts. One major way for college students to manage money is by budgeting. For students, establishing and managing a budget is always a good idea. A budget is often an estimate of expected income, saving and expense for a specific period of time. In college, students are on their own free will, meaning they do what they want, when they want and how they want; and the one main asset which drives them is ‘money.’ In this level of education, students should plan how they will gain revenue whether it’s from their parents in the form of allowances or earned from being employed. They should also plan how they will manage their spending. For instance, how much money will go towards food, transport, books and the like. Once a student prepare a well-organized budget and practice it, he or she would be able to manage their money well. Another way of managing money at college level is by the use of student coupons and discounts. Most colleges, if not all, provide a huge benefit to their students by providing them with coupons and student discounts. This helps in managing money since some costs may be lowered and the money put aside can be saved or used for something more

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