Financial Planning for College Students

financial planning tools

Student is someone who is still studying at university. They will look for any knowledge provided by the lecturer. However, they also can seek knowledge outside of learning activities on campus. Basically we can learn the things around us. There are a lot of learning outside the university. Related to learning is costly. If you want to create a good work, definitely requires a lot of costs, research costs, travel expenses, and other. Students should be forced to be more creative in order to compete with other students. If you are already no longer ask for an allowance to your parents. You have to work hard to meet the needs of every day. Cost of the meal, the cost of books learning, transportation costs, and others. Have owned allowance has run out in the middle of the month? But you've worked hard for no longer ask the parents. This is an exceptional measure. You go to college and trying to find the money. You do need a reliable financial planning consultant that is your own. However, there are mostly students who still rely on an allowance from parents also never feel it. If this continues, it will probably distract us as a learning and student achievement. You are trained to be a good financial planner so that you pocket money to meet your needs every day. Managing finances is a must for you, because it can manage the amount of income and expenses properly.

Financial Planning Tips
You can classify expenditures. You can see some financial planning articles in newspapers or magazines business. A student usually has monthly expenses, such as paying rent, the need to eat, and books. In addition to this, there are also non-routine expenses such as the cost of traveling, buying magazines, the internet, and others. Each student must have a different type of expenditure with other students. You can record the type of expenditure on paper. Furthermore, you can enter the amount of money into an envelope to distinguish routine expenses and expenditures are not routine. In addition, you should try not to buy consumer goods that are not needed by you. You can restrict it. For this type of routine expenditure, it will keep its value every month. However, for non-routine expenses such, you should be able to set it with discipline. If you don’t do it correctly, it can result in cost will be lost at any time and is not in accordance with the plans that have been made by you. To set the irregular expenditure, you can make a priority. If you are happy to get together with your friends in cafes or other eating places, watching movies, and to the tourist attractions, you have to think clearly so that your finances will not be shaken. If you have grouped these costs for a vacation with friends it would be better. You can refresh your mind from your daily routine.

In addition to classifying the type of expenditure, you also have to start saving for your future. You can read financial planning books in library or bookstore. You can set aside money for savings of your pocket. But there are other alternatives, you can spend your money to buy an insurance product that has a cash value or buy mutual funds (if you really like to invest). If you have a part-time job or are still receiving an allowance from their parents. You can set aside an allowance at the time you receive it. You can adjust the amount of savings in accordance of the amount of pocket money. Ideally, you can set aside an allowance of 5% of that amount. Indeed the amount is not much. But if done regularly every month, then after a few years that number has considerable value. These savings can be used as an emergency fund if you do need funds in the future. However, it must be remembered, an emergency fund is only used only in emergency situations only. You should not use the funds to buy the latest gadget, or even for a holiday with friends. In the future, you can use these funds to start a business.

You should be able to distinguish between needs and wants. You may have a good plan to finance. But suddenly there is a need that must be met. Plan only a "financial planning checklist" shopping needs can not be sustained by you. Moreover, there is the latest gadget or the latest fashion that is good, you immediately buy it. If you've done this, you should have a list of needs and wants. In addition, if you have a lot of bank accounts. You have to separate them between personal accounts with other accounts. As a student, have in some bank account is not wrong. Each of the economy would have to use banking services. If you save money in the bank, your money can be stored securely in place. In addition, each transaction will be easier. But the ease provided by the bank, it will make you more flexible. Most importantly, you can resist the urge to spend money you do not excessively. If you already have a business, it must be distinguished between personal account to a business account. It would be more efficient in managing your finances. You can become a reliable financial planner. Bad things that might happen if you combine both these accounts, you will feel confused to set the type of personal expenses with business expenses that are owned by you.

Financial planning guide that is as it should be known by you. I look forward to you to manage your finances well. You as a financial planner for yourself.


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