While in college money management is a difficult subject to tackle. Most of us are not working full time jobs and we may be paying for our education. Regardless of these deterrents, it is important that at an early age we are taking control of our financial future. This may be a familiar sentiment, as the pressures of saving and investing early are common. Unfortunately, beginning to plan and maintain finances can be a confusing subject, but hopefully this blog will be able to provide you with a resource to take on this challenge.
I have found that CNN has some great financial literature published online at http://money.cnn.com/magazines/moneymag/money101/. This site can act as a great resource for those who are unfamiliar with typical investing and budgeting strategies. Be prepared to look up just a few financial terms in order to read the content with clarity.
After reading this content, do not be intimidated, be inspired! It can be daunting to read so much about your finances that is not immediately actionable, but don't let that stand in the way of you developing good money habits. Sit down and create a budget for the money that you do have now, so that when you have more you will be responsible then as well. One way to start a personal budget is to carry a small notebook with you for one week and track all expenses. Once you have done this you can project your monthly expenses and compare it to your income.
It is important to remember that good money-sense does not automatically come with the first big paycheck, we have to be learning and developing that now.