Personal finance is a neglected topic of study for college students. Universities are great about requiring English, Humanities and Science classes; however, they neglect to teach you about simple habits that will ultimately determine your financial well-being.
When you graduate from college, you might have debt in the form of student loans. Do you know how much you have? Are you aware of when your payments are due? Do you know what a deferment period is? There isn’t an exit interview in college that teaches you how to tackle all of the debt you will come into upon graduation. Considering that the average student loan debt by recent graduates is at an all-time high of over $30,000 it seems like it should be a focus topic.
If you are lucky enough to get a good job after college do you know where your paycheck is going? Every single dollar should be accounted for. It’s easy to neglect this aspect. After all, you just spent thousands of dollars and now it is finally paying off in your first bit of earned income. Spending the first paycheck just seems like a rite of passage, new clothes, drinks with friends, etc.
Business Insider recently released an article of 11 poor money habits that people in their 20’s might have. Are you a victim of some of these? If so, what can you do to correct your faults. Maybe it is creating a budget or finding out the best way to tackle student loan debt. See what traps you have fallen into and how you can correct your mismanaged money ways.
Budget Smart, Invest Wise