If you are motivated to reach your college goal good Now look closely at your

If you are motivated to reach your college goal good

This preview shows page 473 - 475 out of 541 pages.

If you are motivated to reach your college goal, good! Now look closely at your budget to determine what ’s needed. If you can’t solve the budget shortfall by cutting back on opti onal” expenses, then you need more dramatic changes. Are you paying a high rent because your apartment is spacious or near campus? Can you move a little farther away and get by temporarily in a smaller place, if the difference in rent makes a big difference in your overall finances? If you’re spending a lot on your car, can you sell it and get by with public transportation for a year or two? Play with the numbers for such items in your budget and see how you can cut expenses to stay in college without getting deeply in debt. If you worry you won’t be as happy if you change your lifestyle, remember that money problems are a key source of stress for many college students and that stress affects your happiness as well as how well you do in college. I t’s worth the effort to work on your budget and prevent this stress. If all else fails, see a financial aid counselor at your college. Don’t wait until you’re in real financial trouble before talking to someone who may be able to offer help. Why People Spend Too Much, Even on a Budget Old habits die hard. Keep monitoring your spending habits and watch for things you’re spending money on without really thinking about it. Credit cards. Never use them if at all possible. They make it easy to spend too much or not see how much you’re spending. Save them for emergencies. Easy access to cash. Just put your card in an ATM and get some cash! I t’s so easy to do, and an automatic habit for so many, that i t’s easy to bust your budget with small amounts daily. Temptations are everywhere. Even when we re careful, w e’re often easily influenced by friends to go out or spend in other ways. Remember why you made your budget in the first place and keep your priorities in mind. The guilt you’ll feel tomorrow about spending a whole week ’s food budget on one expensive dinner out probably isn’t worth the pleasure of it!
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Saylor URL: Saylor.org 468 We buy things to feel good. If that ’s been a longtime habit for you, it will be hard to break. Often i t’s better to find small things that make you feel good rather than trying to go without everything. Rewarding yourself with an ice cream treat for a week ’s budgeting success won’t break your budget. What If You Get in Financial Trouble? People often do n’t admit to themselves that they have a problem until it becomes unmanageable. We human beings are very good at rationalizing and making excuses to ourselves! Here are some warning signs of sliding into financial trouble: For two or three months in a row, your budget is unbalanced because yo u’ re spending more than you are bringing in.
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