How Can College Students Manage Their Money Essay

How Can College Students Manage Their Money - Essay ExampleA student should also be able to separate wants from needs and prioritize the most significant things. Scholarships.com explains that a good plan must be arrogate into action after identifying the differences between wants and needs (Web). Understanding wants and needs helps in tracking a students spending and making sure that a student has sufficient resources in the event of an emergency and enhances making informed money management decisions. Moreover, a student whitethorn opt for a checking level that reduces fees on withdrawals or fund transfer and therefore shopping around to find a bank with convenient ATMs near campus may hugely reduce some unnecessary costs. Just in line with the banking, a student should be able to keep an eye on the pecker balance before spending against it thus reducing cases where a student budgets for money that is perhaps not existing. Additionally, most students misuse credit cards indeed attracting dangerous financial position.Many students currently use credit cards in carrying out their transactions thus making it easier to amass a life-sized amount of debt while in college. A student should go easy with the credit cards and understand that the easiest way of spending beyond ones means is charging the credit card (Scholarships.com Web). Students should, therefore, use credit cards sparingly and avoid paying interest on even simple things such as on a bag of chips.