Most students are “literally dying” to get the newest iPhone. We spend much of our hard-earned money on ourselves, and some of us are blessed enough to have parents who provide us with an allowance or who can send money when we are lacking.
Some of us get care packages, surprise gifts, random deposits or reimbursements on what we pay to travel to work from good old mom and dad.
Whether we are in a situation where your parents can help financially, learning how to budget and understanding the greater scope of financial struggles that most of the country, and probably most of our peers, are experiencing is a crucial part of the learning experience in college.
The spending habits and fiscal education we gain now will shape our perspectives on the real world.
Understanding finances goes further than keeping our bank account balances higher than $20.
Whether it’s balancing our weekly usage of Pirate Bucks so that they will last until December, or saving part of our paycheck to pay for next semester’s books or tuition, we all need to be more educated about how much the economy effects.
You may struggle to pay or to understand increases in tuition, but you should do the math while balancing your budget and calculate exactly how much debt you might be in at another school, or without our financial aid package and scholarships if you receive them.
Educating ourselves on what a term such as “return on investment” means will help us prepare for our futures financially and appreciate the steps our professors and administrators have taken to prepare us for the future overall.