For those that are either attending or have graduated from college, there are many challenges to be encountered. Many of these are tied, to some degree or another, to finance. This goes far beyond not buying a costly latte or purchasing a new car without the funds, just to name a few instances. For those that are experiencing financial stress in school, you're not alone. The following tips by Robert Jain will ease your concerns.
To start reducing financial stress in college, focus on getting more rest. If you spend late nights cramming for exams or finishing papers, getting substantial sleep will be a challenge. It doesn't help that a lack of rest will result in you becoming anxious about certain aspects of life, including your finances. Reputable authorities on finance like Bob Jain will recommend rest for this reason, not to mention that it will make you more attentive, engaged student.
Another way to keep financial stress to a minimum is by measuring needs versus wants. If you're commuting to school, gas for your car would be considered a need. However, if your current car is perfectly operational and still desire a brand-new ride, this would be seen as a want. Understanding both categories will help you determine where to invest your money, which will make for smarter savings and less stress alike.
Your job may also be causing you financial stress. Perhaps you're not as concerned about what you earn but instead how it fits into your overall schedule. Not only should your job coincide with your courses, but you should leave time to enjoy your personal life. Otherwise, you will end up with little to no downtime to speak of. Land a job that will be flexible enough for you to fulfill and account for other responsibilities in life.
Lastly, it may be in your best interest to build an emergency savings account early on. The best thing about this is that you don't have to sacrifice too much money; a few dollars each week will do the trick. As time goes on and more money is saved, you're able to develop an account that can be used in case the unexpected arises. What this means is that you won't have to worry about paying for much out of your own pocket.
To start reducing financial stress in college, focus on getting more rest. If you spend late nights cramming for exams or finishing papers, getting substantial sleep will be a challenge. It doesn't help that a lack of rest will result in you becoming anxious about certain aspects of life, including your finances. Reputable authorities on finance like Bob Jain will recommend rest for this reason, not to mention that it will make you more attentive, engaged student.
Another way to keep financial stress to a minimum is by measuring needs versus wants. If you're commuting to school, gas for your car would be considered a need. However, if your current car is perfectly operational and still desire a brand-new ride, this would be seen as a want. Understanding both categories will help you determine where to invest your money, which will make for smarter savings and less stress alike.
Your job may also be causing you financial stress. Perhaps you're not as concerned about what you earn but instead how it fits into your overall schedule. Not only should your job coincide with your courses, but you should leave time to enjoy your personal life. Otherwise, you will end up with little to no downtime to speak of. Land a job that will be flexible enough for you to fulfill and account for other responsibilities in life.
Lastly, it may be in your best interest to build an emergency savings account early on. The best thing about this is that you don't have to sacrifice too much money; a few dollars each week will do the trick. As time goes on and more money is saved, you're able to develop an account that can be used in case the unexpected arises. What this means is that you won't have to worry about paying for much out of your own pocket.
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For more information regarding finance, feel free to consult Bobby Jain today.. Unique version for reprint here: How To Reduce Financial Stress In College, By Robert Jain.
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