Source: Fortune.com
Summary
College students can benefit from learning how to manage their finances effectively. Experts recommend starting to build credit, budgeting, saving, and having a plan for student loans. Additionally, being open with friends about financial priorities and taking advantage of campus resources can also help. It’s also important to remember that mistakes will happen, but learning from them is key. By following these tips, students can set themselves up for financial stability after graduation.
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The announcement sounds familiar.
Experts are urging college students to take control of their finances. Sara Wilson, director of product innovation at Student Connections, emphasizes the importance of considering the financial decisions made in college, as they impact future financial security. Courtney Alev, consumer financial advocate at Credit Karma, recommends starting to build credit with secured credit cards or student credit cards. Lindsay Bryan-Podvin, financial therapist, suggests dividing monthly bills by four to manage inconsistent income. Phil Schuman, executive director at the Higher Education Financial Wellness Alliance, encourages students to take advantage of campus resources.
The strategy enters a familiar phase. Students are being told to be responsible with their finances, but the reality is that many will still struggle with debt and financial insecurity after graduation. The numbers tell one story, but the real story is how students will navigate the complex financial landscape.
Author: Evan Null
