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.
One of the ways to reduce financial stress in college, according to the likes of Bob Jain is by getting plenty of rest. Obviously, this won't magically solve your problems with money, but many people feel stressed because they aren't getting the rest they need. Sleepless nights due to extensive projects and upcoming exams shouldn't be commonplace. Focus on sleeping earlier so that you're more relaxed the following day.
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.
The source of your financial stress could be your job, too. It's possible that the drive from your home to your place of work is extensive, meaning that more money will have to be spent on resources like gas or fuel. Perhaps you're struggling with having your job coincide with your academic responsibilities. Issues like these can add to the financial stress you experience, so see if there are other options that are more flexible with regard to your education.
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.
One of the ways to reduce financial stress in college, according to the likes of Bob Jain is by getting plenty of rest. Obviously, this won't magically solve your problems with money, but many people feel stressed because they aren't getting the rest they need. Sleepless nights due to extensive projects and upcoming exams shouldn't be commonplace. Focus on sleeping earlier so that you're more relaxed the following day.
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.
The source of your financial stress could be your job, too. It's possible that the drive from your home to your place of work is extensive, meaning that more money will have to be spent on resources like gas or fuel. Perhaps you're struggling with having your job coincide with your academic responsibilities. Issues like these can add to the financial stress you experience, so see if there are other options that are more flexible with regard to your education.
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.
About the Author:
For further information regarding finance, feel free to consult Bobby Jain now.. Also published at Financial Stress & The Best Tips, By Robert Jain, For Every College Student.